Capital Small Finance Bank announced the appointment of Munish Jain as the whole time director (designated as executive director). The announcement came after the Reserve Bank of India approved his appointment as whole time director for a period of 3 years with effect from August 28, 2023. He has been associated with Capital Small Finance Bank since the year 2000, previously serving as the Chief Operating Officer.
“I am honored to take on the role of Executive Director at Capital Small Finance Bank. Having been a part of this institution for over two decades, I am excited to contribute to its strategic growth and further strengthen our commitment towards delivering exceptional financial services. I look forward to leveraging my experience and expertise to drive innovation and value for our customers, stakeholders, and the bank as a whole,” said Munish Jain.
Munish Jain has years of experience and expertise in the banking sector. He holds a bachelor’s degree in commerce and is a distinguished fellow member of both the Institute of Chartered Accountants of India and the Institute of Company Secretaries of India. He has an experience of 22 years in various facets of banking, including finance, compliance, treasury management, strategic decision-making, and the successful execution of strategic initiatives.
Capital Small Finance Bank Limited, earlier this month, announced its fiscal first quarter earnings wherein it said that the bank’s total business grew by 15.58 per cent to Rs 12,584 crore for the quarter ended June 2023. The Jalandhar-headquartered bank’s total business was Rs 10,888 crore during the first quarter of the last financial year. Its deposits grew by 14.64 per cent to Rs 7,064 crore and advances went up by 16.81 per cent to Rs 5,519 crore. The net worth of the bank increased by 28.81 per cent to Rs 691 crore during the first quarter of the current fiscal.