RBL Bank's Chief Operations Officer Pankaj Sharma resigns

livemint.com:

RBL Bank's Chief Operations Officer (COO), Pankaj Sharma submitted his resignation to pursue avenues outside the bank, the private sector bank said in an exchange filing on Friday. The private lender in its filing said that following an internal discussion RBL Bank has accepted Pankaj Sharma's resignation. On September 20, 2023, after the end of business hours, the bank will relieve him from its duties.

Further, the bank has already appointed Alok Rastogi as Head – Corporate Centre to handle operations and other duties. "It is to further submit that during the financial year 2022-23, the Bank had already appointed a senior and experienced person Mr. Alok Rastogi as Head – Corporate Centre, who will now directly handle the Operations function, apart from other responsibilities," said RBL Bank in its filing.

In July, RBL Bank's net profit rose by 43% YoY to ₹288 crore in the first quarter of FY24 against ₹201 crore in Q1FY23. The private lender managed to perform above than market expectation. The bank managed to secure a decent imrpovement in its profit from previous quarter.

RBL Bank's net profit increased by 6.2 per cent sequentially from Rs. 271.05 crore in the fourth quarter of previous financial year (Q4FY23).Private lender's non-interest income increased significantly to ₹685.41 crores from ₹613.57 crore. The board of directors of the RBL Bank, in their meeting, also approved the re-appointment of Chief Compliance Officer of the Bank, Prakash Gupta, from 1 November.