PNB Housing Finance appoints Hardayal Prasad as new MD & CEO

Prasad will assume the charge on August 10, the bank said.

PNB Housing Finance on Thursday announced that Hardayal Prasad, the former SBI Card head who left the card issuer company last month, has been appointed as its new MD and CEO. The housing finance arm, promoted by country’s second largest state-owned Punjab National Bank (PNB), currently has Neeraj Vyas as its interim chief.

“Following an extensive executive search that considered internal and external candidates, its board of directors has appointed Hardayal Prasad as Managing Director and Chief Executive Officer of PNB Housing Finance Ltd,” it said in a release.

Prasad will assume the charge on August 10, the bank said.

Neeraj Vyas, the current interim managing director and chief executive officer of the company, will step down from the position on August 10, it added. Prasad, a seasoned banker with experience in banking, international operations at SBI and later with SBI Card, had last month resigned as the MD and CEO of SBI Card pursuant to voluntary retirement from SBI, the promoter of the company.