Equitas Small Finance Bank on December 12 announced the appointment of its senior managerial personnel Ashwini Biswal as its next chief compliance officer (CCO).
Biswal will take over the role on January 28, 2024, for five years, the microfinance lender said in an exchange filing.
"...the Board of Directors of the Bank at its meeting held today i.e., December 12, 2023, has inter-alia considered and approved the appointment of Ashwini Biswal as Chief Compliance Officer of the Bank," the regulatory filing noted.
Biswal will replace Srinivasan Krishnamurthy Purohit, whose tenure as the CCO will expire on January 27. The bank said he would be assigned a new charge following the completion of his term.
Notably, Biswal has been associated with Equitas since April 2017 and is currently in senior vice president grade.
The industry veteran has over 18 years of work experience in the banking sector, in the areas of audit, compliance, operations and quality assurance.
Notably, Equitas had reported a net profit of Rs 198 crore in the second quarter of the fiscal year 2023-24, higher by 70 percent as against Rs 116.4 crore in the corresponding year-ago period. The Chennai-based private lender's net interest income had grown by 25 percent on-year to Rs 765.6 crore.
In the trading session on December 12, the bank's shares surged on the stock markets. The scrip settled at Rs 103.95 on the BSE, up 10 percent as against the previous day's close.
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