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Sunday, June 13, 1999
IndusInd Bank appoints AG Asrani as new chairman
Paramvir Singh
Mumbai, June 12: Indusind Bank has promoted Arjun G Asrani to succeed Solomon Raj as the bank's chairman. Soloman Raj's term expired in April this year and he has since joined the IndusInd federation as its chairman. An IndusInd Bank spokesperson told The Financial Express that AG Asrani has been on the bank's board of directors as a founder director since the bank's inception in 1994 and his appointment as IndusInd Bank's chairman was ratified by the Reserve Bank of India (RBI) on Friday, June 11, 1999.The bank currently has eight members on its board of directors and AG Asrani's appointment as IndusInd chairman is for a period of three years. The bank registered a net profit of Rs 36.80 crore for fiscal year 1998-99, down 59.6 per cent from Rs 91.12 crore achieved in the previous year. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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