The newly designated MD and CEO of the company Tewari was country head, United States of America (US) operations of SBI, before this assignment. He joined SBI as probationary officer in 1991.
SBI Cards and Payment Services reported a 66% year-on-year (y-o-y) decline in its net profit at Rs 84 crore for the March quarter.The architect of SBI Cards and Payment Services’ initial public offer (IPO), Hardayal Prasad, has stepped down as the managing director and chief executive officer of the company. He will cease to be the MD & CEO of the company from July 31, SBI Cards said in an stock exchange filing. The parent company, State Bank of India (SBI), has nominated Ashwini Kumar Tewari as the new MD and CEO, who will take charge from August 1,2020. SBI cards listed at stock exchanges on March 16 this year.
The board of directors of the company at its meeting held on July 15 has approved the resignation of Hardayal Prasad, SBI Cards said. Prasad has taken voluntary retirement from SBI, it added. A 1983 batch probationary officer in SBI, Prasad took over as MD and CEO of SBI Cards in February, 2018.
The newly designated MD and CEO of the company Tewari was country head, United States of America (US) operations of SBI, before this assignment. He joined SBI as probationary officer in 1991.
SBI Cards and Payment Services reported a 66% year-on-year (y-o-y) decline in its net profit at Rs 84 crore for the March quarter. The total expenses of the company jumped 42% to Rs 2,398 crore from Rs 1,691 crore (y-o-y).
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