Tag: ujjivan

Ujjivan Financial Services Q2 loss at Rs 68 cr, BFSI News, ET BFSI

Personal Finance

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Ujjivan Financial Services on Saturday reported a consolidated net loss of Rs 68.18 crore for September quarter 2021-22. It had posted a net profit of Rs 89.76 crore in the year-ago same period. Sequentially, the net loss narrowed from Rs 99.33 crore in quarter ended June 2021.

Total income was down at Rs 731.90 crore in the quarter under review as against Rs 828.47 crore in the year-ago period, Ujjivan said in a regulatory filing.

Expenses were higher at Rs 822.73 crore during the quarter. In the year-ago period, expenses stood at Rs 704.95 crore.

“Barun Kumar Agarwal, CFO of the company has tendered his resignation from the company to take up a senior position role in the finance department of the bank,” the filing further said.

His resignation from the company will be effective from November 15, 2021 (close of business hours), it said. Ujjivan Financial Services is the parent company of Ujjivan Small Finance Bank. PTI KPM ANU ANU

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Ujjivan Financial Services appoints Sanjeev Barnwal as CEO, effective Friday, BFSI News, ET BFSI

Banking & Finance

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Ujjivan Financial Services today appointed Sanjeev Barnwal as the company’s chief executive offer, with effect from Friday, the company said in an exchange filing.

Barnwal will continue to serve as the Company Secretary and Key Managerial Personnel, and was unanimously approved by the board’s Nomination and Remuneration Committee.

According to reports, the position at Ujjivan Financial Services was left vacant after Carol Furtado, who was appointed as the CEO on August 13, resigned to be the interim CEO of Ujjivan Small Finance Bank Limited, after Nitin Chugh‘s abrupt exit.

Nitin Chugh resigned from the position of Managing Director and CEO of Ujjivan Small Finance Bank on August 19 on account of personal reasons.

Also read : Nitin Chugh resigns as MD and CEO of Ujjivan SFB for personal reasons

Barnwal has been with the the company for over seven years and has played pivotal roles in key milestones including private equity raise, IPO and listing, banking licence application and processing, among others.

Prior to Ujjivan, Barnwal worked with SMC Capitals Limited as Associate Vice President and Company Secretary.

In April, shareholders of Ujjivan Financial Services had rejected a special resolution to appoint founder Samit Ghosh as managing director and CEO.

(The image was sourced from Google stock images)



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