SBI Card appoints Abhijit Chakravorty as MD & CEO for two years

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SBI cards and payment services (SBI Card), the country’s largest credit card issuer, has appointed Abhijit Chakravorty as Managing Director and Chief Executive Officer.

SBI Card said in a filing with the exchanges that Chakravorty, who is currently deputy managing director at SBI, will take over his new role on August 12.

He was appointed Managing Director and CEO of SBI Card for a period of two years.

Managing Director and CEO Rama Mohan Rao Amara has tendered his resignation due to his transfer to the SBI. Amara will leave office on August 11.

Amara has been appointed as the Managing Director and Chief Executive Officer SBI Card in January 2021.

Rich experience

Chakravorty will assume his new role at a time when the Indian credit card industry is showing strong growth in both volume and card spending.

Chakravorty started his career as a Probationary Officer with SBI in 1988 and has amassed over 34 years of rich experience in the Retail, Corporate, Offshore Operations and IT sectors of the Bank.

He also worked in a branch of the Hong Kong Bank. He had a long tenure in the Commercial Credit Group and was involved in high value corporate lending.

Chakravorty managed the SBI’s Bangladesh operations in his capacity as Chief Executive Officer and Country Head.

In his previous assignment as Chief Executive Officer (Channels & Operations) in the Bank’s Global IT Center, Chakravorty led the vertical charge of IT operations for customer-facing channels and payment systems.

He is a Graduate in Applied Chemistry and a Chartered Fellow of the Indian Institute of Bankers (CAIIB).

for the entire fiscal year 2022-23, You mentioned the SBI card 40 per cent increase in net profit at Rs. 2,258 crore (Rs. 1,616 crore). Total income grew by 26 per cent in 2022-23 to ₹14,286 crore (₹11,302 crores).