Poonawalla Fincorp, a notable NBFC, has chosen Arvind Kapil, a seasoned retail banking expert from HDFC Bank, as its new Managing Director & Chief Executive Officer. Kapil will commence his five-year term on June 24, 2024, succeeding Abhay Bhutada, who opted for early retirement.
Arvind Kapil’s Background
- Kapil currently serves as HDFC Bank’s Group Head, managing the mortgage banking division with a substantial book size of ₹7.5 lakh crore.
- With his extensive experience and expertise, Kapil is set to lead Poonawalla Fincorp into its next phase of growth and development.
Impact on Poonawalla Fincorp
- Poonawalla Fincorp shares have shown a remarkable uptrend, rising over 10% in 2024 and more than 67% over the past year.
- The appointment of Arvind Kapil signifies a strategic move by the NBFC to bolster its leadership and capitalize on his wealth of knowledge in the retail banking sector.
Transition from HDFC Bank
- Kapil’s decision to transition from HDFC Bank to Poonawalla Fincorp highlights the attractiveness and potential of the latter in the financial market.
- His appointment follows the departure of Abhay Bhutada, emphasizing a seamless leadership transition within the organization.
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