Poonawalla Fincorp informed that its board has approved the appointment of Bhaskar Pandey as the new Chief Risk Officer (CRO) of the company, for a tenure of 5 years.
The firm informed that Bhaskar Pandey has already joined on 29 August 2024, as the CRO of the company.
Bhaskar Pandey is a postgraduate in business administration from Institute of Management Education from Pune. He is a seasoned credit and risk professional with over 23 years of experience with a leading bank & NBFCs, managing credit policy, credit underwriting, risk analytics, systems, and processes. He has been with HDFC Bank for over 21 years in various credit and risk roles with the bank.
Poonawalla Fincorp is a Cyrus Poonawalla group promoted non-deposit taking systemically important non-banking finance company (ND-SI-NBFC), registered with the Reserve Bank of India (RBI). The companys financial services offerings include pre-owned car finance, personal loans, loan to professionals, business loans, loan against property, supply chain finance, machinery loans, medical equipment loans and consumer loans.
The company's net profit grew 45.7% to Rs 291.64 crore on 39.8% increase in total income to Rs 995.86 crore in Q1 FY25 over Q1 FY24.
The scrip declined 1.83% to Rs 392.30 on the BSE.
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