Arvind Kapil Is New MD & CEO Of Poonawalla Fincorp

Poonawalla Fincorp prepares itself for the next level of growth

Adar Poonawalla, Chairman, Poonawalla Fincorp

FinTech BizNews Service 

Mumbai, March 19, 2024: Poonawalla Fincorp has had a notable journey in the last 3 years in terms of growth, strong asset quality, CRISIL AAA rating, superior profitability and diversifying portfolios of products reaching an AUM of more than Rs21,000 Crores, under the leadership of Abhay Bhutada, current Managing Director Poonawalla Fincorp.

Mr. Adar Poonawalla, Chairman, Poonawalla Fincorp said “As we continue to develop new business verticals and move towards our long-term vision of being the best-in-class organization, we hereby share that Mr. Arvind Kapil would be joining us as MD and CEO, to spearhead this transformation to the next level of growth. Mr. Kapil manages a book of over 7 Lakh Crores INR at HDFC Bank and has successfully handled the largest merger in the industry. Mr. Kapil, an alumnus of Harvard Business School, Postgraduate in Management and Engineer, has been known in the industry as a paradigm pioneer for leading digital lending innovations and has been an integral part of the HDFC Bank’s growth journey for over 25 years.”

Mr. Adar Poonawalla further added, “Given his leadership, execution skills and business acumen, Abhay Bhutada has been elevated to Group level and will be taking up strategic & larger role at the Cyrus Poonawalla Group for managing its strategy, investment & finance. He shall continue to be as Non-Executive Director on the Board of Poonawalla Fincorp Ltd.”

The Company has widespread coverage across 19 states. The Company’s financial services offerings include pre-owned car finance, personal loans, loan to professionals, business loans, loan against property, supply chain finance, machinery loans, medical equipment loans and consumer loans.

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