Banking News

SBM Bank India names Ashish Vijayakar MD & CEO


Private sector lender SBM Bank India Friday said it has appointed Ashish Vijayakar as managing director and chief executive officer.

The appointment is for three years starting February 17, the bank said in a statement.

Vijayakar is a veteran banker with a track record spanning around three decades in the banking and financial services sector.

“With his proven track record of driving business growth, leading transformational initiatives and fostering winning teams, Vijayakar’s leadership will propel SBM Bank India to new heights of success,” said Sattar Hajee Abdoula, chairman, SBM Bank India.

“We are confident that Ashish will, together with the existing management team, reinforce the existing bonds between the bank and its stakeholders, and provide seamless continuity to the service to our customers, while enhancing the spectrum of strategic endeavours of the bank with his expertise. His foresight and unwavering dedication to excellence perfectly align with our objectives and aspirations,” Abdoula said.

With a strong background in building and growing global businesses, Vijayakar has held key leadership positions across various geographies in Standard Chartered Bank. As co-head & MD at Standard Chartered Bank, he navigated complex market dynamics and delivered sustainable results, SBM Bank India said in the statement.“I look forward to working closely with the talented team at SBM Bank India to further enhance the robust groundwork established by my predecessors and foster sustainable growth that brings value to all stakeholders,” Vijayakar said.As a career banker, Vijayakar has expertise in the domains of business transformation, risk management, innovation and managing changing business environment processes, among other areas of operations.

His expertise lies in strategic planning, team leadership and fostering transformative partnerships to drive sustainable growth, according to the statement.

Vijayakar is a bachelor of commerce from Mumbai University, CA from the Institute of Chartered Accountants of India and an LLB (general) from Mumbai University.

SBM Bank India is the first bank to receive a universal banking licence from the Reserve Bank of India to set up and operate as a scheduled commercial bank under the wholly-owned subsidiary (WOS) mode offering banking services in India.

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