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As on 20-May-2022  09:57

Equitas SFB slumps after MD & CEO PN Vasudevan resigns

PN Vasudevan is the founder of Equitas. Equitas began its journey in 2007 starting off as a Micro finance institution and later converting into the bank in 2016.

He now wants to pursue a distinct set of goals, which he believes, will help him contribute further back to society, more than what he is doing now.

The bank's board, at its meeting held on 19 May 2022, accepted the resignation and wishes to place on record its deep appreciation of the contribution made by PN Vasudevan over the years.

Equitas Small Finance Bank is one of the largest small finance banks in India. It caters to individuals with limited access to formal financing channels, as well as affluent and mass affluent, Small & Medium Enterprises (SMEs) and corporates.

The bank's net profit rose 5.88% to Rs 119.51 crore on 4.74% increase in total income to Rs 1,043.98 crore in Q4 March 2022 over Q4 March 2021.

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