Business

Indusind Bank appoints Gobind Jain as new CFO

MUMBAI :

IndusInd Bank on Thursday said that SV Zaregaonkar has resigned as the chief financial officer with effect from 30 September. In his place, Gobind Jain has been appointed as the new CFO. 

In a statement to the exchanges, the private sector bank said that Zaregaonkar has stepped down to take over other responsibilities until the date of his superannuation. Zaregaonkar started his career as a lecturer in commerce before he joined Dena Bank as a specialist in middle management cadre as ‘Chartered Accountant’ in 1980. He worked in Dena bank for 15 years in different roles such as credit analyst, in charge of branch operations and finally as Chief -Accounts officer at the headquarters in Mumbai. From there he joined Indusind Bank where he served for 26 years and rose to the ranks of chief financial officer and executive vice president.  

The new CFO Jain is a chartered accountant, chartered financial analyst, certified financial planner and financial risk management with 29 years of experience in accounting and finance management. His last assignment was with a leading private sector Bank, prior to which he had worked with foreign Banks in India and also with one large private sector Bank. 

Indusind Bank had reported a 99% year-on-year rise in consolidated net profit at ₹1,016 crore for the quarter ended June 30. The lender had posted a net profit of ₹510 crore in the corresponding quarter last year. Net interest income for the quarter was at ₹3,564 crore as against ₹3,309 crore a year ago. 

Indusind Bank shares ended 2.2% down at ₹1209 per share. 

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