The Appointment of Satish Kumar Kalra as Interim MD & CEO at North East Small Finance Bank

The recent announcement from North East Small Finance Bank (NESFB) regarding the appointment of Satish Kumar Kalra as its interim Managing Director and Chief Executive Officer has been met with approval from the Reserve Bank of India.

Satish Kumar Kalra brings a wealth of experience to this new role, having previously served as the Managing Director & CEO (In-charge) and Executive Director of Andhra Bank from 2012 to 2017. Additionally, he held the position of an independent director at Lakshmi Vilas Bank from Dec 2019 to May 2021, and currently serves as an independent director at Can Fin Homes Limited.

In a statement released by NESFB, Kalra’s tenure at Andhra Bank was highlighted, where he drove significant growth, achieving a 13% compound annual growth rate in credit and adding over 1200 branches worldwide. His extensive experience as an independent director at several institutions further underscores his deep expertise in the industry.

NESFB has expressed confidence in Kalra’s ability to lead the bank towards growth and stability, noting that his expertise will be pivotal in enhancing branch management and the bank’s asset base. He will also be overseeing strategic growth and business directives in line with the highest governance and regulatory standards.

Kalra’s role will be instrumental in leading the ongoing merger process between slice and NESFB. The focus will be on optimizing bank operations and ensuring a seamless cultural integration of the two entities.

In October of this year, NESFB had announced its merger with fintech unicorn slice, in order to accelerate their joint vision of expanding tech-enabled financial accessibility across the country. Slice, a consumer payments and credit company, has raised $290 million in its series A, B, and C rounds, and is backed by leading investors such as Tiger Global, Insight Partners, and Advent International.

The appointment of Satish Kumar Kalra as the interim MD & CEO at NESFB marks a significant development for the bank, and his leadership is expected to drive the institution towards further success in the future.

Source: Living Media India Limited