Poonawalla Fincorp Appoints Arvind Kapil as MD & CEO

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.