Ujjivan SFB to re-appoint Ittira Davis as MD and CEO for 2 years

Ujjivan Small Finance Bank (SFB) announced on December 9 that the Reserve Bank of India (RBI) has approved Ittira Davis' reappointment as managing director and chief executive officer for another two years.

Davis has been working with Ujjivan since March of 2015. According to the lender, he has over 40 years of work experience in India, the Middle East, and Europe.

B A Prabhakar, Chairman of Ujjivan Small Finance Bank, said, “We are very pleased with the re-appointment of Ittira Davis as our MD and CEO. He has been a catalyst in turning the bank around in record time and leading it towards a stronger future. He is an exceptional leader with extensive global banking experience, and we look forward to more success and glory under his wise guidance.”

Davis, an alumnus of the Indian Institute of Management-Ahmedabad, previously worked as the managing director at Europe Arab Bank in London before joining Ujjivan. He has also held senior positions with Arab Bank plc in Bahrain and Citibank in India.

The Bengaluru-based SFB previously announced its highest-ever quarterly profit for the September quarter of Rs 294 crore, driven by strong disbursal growth and a decline in bad loans.

In the same period last year, the bank reported a net loss of Rs 274 crore. However, when compared sequentially, the net profit increased from Rs 203 crore in the quarter that ended in June 2022 by almost 45 percent.