RBI Extends Vasudevan P N's CEO Term at Equitas SFB Amid Strong Results

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AuthorAarav Shah|Published at:
RBI Extends Vasudevan P N's CEO Term at Equitas SFB Amid Strong Results
Overview

The Reserve Bank of India has approved Vasudevan P N's reappointment as Equitas Small Finance Bank's Managing Director and CEO for a three-year term starting July 23, 2026. This follows a strong performance for the quarter and fiscal year ending March 31, 2026, which saw net profit surge 35.8% to ₹90 crore and loan disbursements hit an all-time high. Equitas SFB shares closed up 1.33% on April 23, 2026.

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RBI Approves Vasudevan P N's Third Term as Equitas SFB MD & CEO

The Reserve Bank of India has approved Vasudevan P N's reappointment as Managing Director and Chief Executive Officer of Equitas Small Finance Bank. The approval, granted on April 23, 2026, secures a fresh three-year term for Mr. Vasudevan, effective July 23, 2026.

Bank Reports Strong Financials for FY26

Equitas Small Finance Bank reported strong financial results for the quarter and fiscal year ended March 31, 2026. Net profit increased by 35.8% year-on-year to ₹90 crore, compared to ₹66.3 crore in the previous year. Total revenue saw a modest rise of 4.1% to ₹851.6 crore.

Improved Asset Quality and Record Loan Growth

The bank's asset quality improved, with gross non-performing assets (NPAs) falling to 2.75% from 2.92% in the previous quarter. Net NPAs also eased to 0.92%. Credit costs decreased significantly to 1.88%. Loan disbursements reached an all-time high of ₹6,557 crore, a 28% increase year-on-year, driven by strong growth across various loan segments.

Equitas SFB Shares Rise on News

Shares of Equitas Small Finance Bank Ltd closed at ₹66.10 on the NSE on April 23, 2026, up 1.33% for the day. The rise reflected positive investor sentiment following the announcement of the reappointment and the bank's strong financial performance.

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