Ujjivan Small Finance Bank has received regulatory approval to appoint Carol Furtado as its interim Chief Executive Officer. The Reserve Bank of India cleared her appointment on September 1, 2026, for three months, the lender said in a stock exchange filing.
Furtado will hold the post until a regular Managing Director and CEO is appointed, whichever comes earlier. She was serving as Executive Director at the bank before this appointment.
Ujjivan Small Finance Bank CEO Sanjeev Nautiyal’s Exit
The move follows the early retirement of Sanjeev Nautiyal, who had been Managing Director and CEO of the bank for a little over two years. Nautiyal informed the board of his decision through an email on August 31, citing health reasons, and sought retirement with three months’ notice.
The board met the same day and accepted his request. Nautiyal went on leave from September 1 and will formally retire from the bank on November 30, once his notice period ends. He ceased to be MD and CEO, as well as Key Managerial Personnel, with immediate effect from September 1.
The board acknowledged Nautiyal’s contribution during his tenure. It pointed to growth in the bank’s secured loan book, a stronger deposit franchise, and improvements in digital and risk management systems during his stint.
Who is Carol Furtado, Ujjivan SFB’s Interim CEO?
Furtado was named acting MD and CEO on September 1 itself, based on a recommendation from the Nomination and Remuneration Committee. That appointment was subject to RBI clearance, which came through later the same day.
She has over three decades of banking experience across business, strategy, operations and institutional functions. According to the bank, she was part of the founding leadership team that built Ujjivan from its early days.
The bank said its succession planning and leadership development processes would help it manage the transition without disruption. The board also said it would begin the process of identifying a permanent successor to Nautiyal and submit its recommendation to the RBI in due course.
Ujjivan Small Finance Bank Q1 FY27 Results
The leadership change comes shortly after Ujjivan reported its first-quarter results for FY27. The bank posted a net profit of Rs 317 crore for the quarter ended June 2026. Net interest income for the quarter stood at Rs 1,186 crore. Pre-provision operating profit also touched a record of Rs 548 crore.
Deposits grew 24.6% year-on-year to Rs 48,129 crore, while the gross loan book rose 28.9% to Rs 42,903 crore. The bank’s secured loan portfolio, which includes housing, vehicle and gold loans, now makes up just over half of its total loan book.
On the back of this performance, the bank had revised its return on assets guidance for FY27 upward to a range of 1.8% to 2.0%, and lowered its expected credit cost for the year.
Ujjivan Small Finance Bank Share Price Today
Ujjivan Small Finance Bank’s share price has been down almost 5% as of the market opening on September 2. The company’s share price has been down 12.62% in the past month. However, over the past year, Ujjivan Small Finance Bank’s share price has been up 44.12%.