Shivalik Small Finance Bank has appointed Anshul Swami as the bank’s managing director and chief executive officer effective from April 26, according to people familiar with the development. The Reserve Bank of India (RBI) has already approved the appointment of Swami, they said.
Swami replaces Suveer Kumar Gupta who co-founded the bank and led its transition from an urban co-operative bank to a small finance one. Gupta will now act as an adviser to the Board of Directors, sources said.
Swami has over 20 years of experience across various customer and geographic segments. He has worked across various customer segments like retail, MSME, microfinance and Agri.
Prior to Shivalik SFB, Swami was associated with RBL Bank as Head – Retail & Inclusion, Products. He has also held positions with Barclays, Citi Financial, and Britannia.
Swami will be tasked with leading the digital initiatives of the bank with focus on small businesses and expanding the bank's presence over the country.
Shivalik Small Finance Bank was the first one to convert from a Universal Cooperative Bank to a Small Finance Bank structure last year.
As of March end, the lender’s total advances stood at Rs 804.9 crore, up 12 percent year-on-year, while total deposits rose 9.2 percent on year to Rs 1,244.5 crore.As of September end, the bank’s gross and net NPA ratio stood at 3.71 percent and 1.91 percent, respectively. Capital adequacy ratio, as on September 30, stood at 17.93 percent.