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RBL Bank has financial strength, capital for growth ahead: Interim CEO Rajeev Ahuja

"RBI has given me the assurance that they are comfortable with performance of the bank," RBL Bank interim CEO Rajeev Ahuja told CNBC-TV18.

December 27, 2021 / 10:45 AM IST

RBL Bank's interim CEO Rajeev Ahuja has said that the bank has the financial strength and capital for growth ahead. Ahuja refused to speculate on the reason for former MD and CEO Vishwawir Ahuja’s exit and said that the RBI is comfortable with the performance of the bank.

"RBI has given me the assurance that they are comfortable with performance of the bank," Ahuja told CNBC-TV18.

Read | RBL Bank shares hit 52-week low post RBI action; what should investors do?

The interim CEO further said that the transition of leadership was well underway and now that the "incident has happened, we need to move on".

"RBI has tasked me to continue focus on day to day operations. I see a much better Q3FY22 and Q4FY22 will get us back to normalisation," Ahuja said, adding that "risk disclosures have been made at regular intervals".

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"The trajectory of profitability has been established. Growth is back and some businesses will take a while," he added.

Also Read - RBL Bank's interim CEO Rajeev Ahuja says bank has full support of RBI, asset quality issues addressed

Addressing a press conference on December 26, Ahuja sought to allay concerns around the health of the private sector lender, stressing that the events over the weekend are not linked to quality of advances or asset quality.

Ahuja, an executive director with the lender, was elevated by the board after his predecessor Vishwavir Ahuja went on leave following the appointment of an additional director by the RBI on the bank.

Also Read - RBI action against RBL Bank: What we know so far

He claimed that the board of the bank had already chosen him as the successor to Vishwavir, and RBI-appointed additional director Yogesh Dayal also voted for his appointment as MD and CEO at a meeting held over the weekend. The central bank is fully behind the bank and its strategy, he added.

Vishwavir Ahuja, who's leave announcement came after the RBI move and six months before the end of his term, had to do so on medical grounds, his successor said, without sharing the details.
Moneycontrol News
first published: Dec 27, 2021 10:09 am
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