Less than two years into his job, the CEO has restored the regulator’s and investors’ confidence in the private sector lender. He now has new growth plans.It was certainly not the best of starts.
A week before R. Subramaniakumar was to take over as managing director and chief executive of RBL Bank in June 2022, the stock hit an all-time low, plunging 90% from May 2019 to Rs 77.
Subramaniakumar was roped in after former CEO Vishwavir Ahuja was nudged out by the central bank for falling short on expectations. The brief for the new CEO was clear: Boost the bank’s secured retail loan book and retail deposits. But six months into his job, the needle hadn’t moved much on either…
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Source: https://themorningcontext.com/business/rbl-banks-subramaniakumar-weaves-his-magic