Private sector lender RBL Bank on June 14 said the rumours linking the appointment of CEO R Subramaniakumar as with asset quality challenges for the bank were unfounded, baseless, and “purely speculative”. The lender told exchanges that it does not foresee any asset quality challenges and has built adequate provisions to tide against bad loans. Also Read | Rumors linking appointment of R Subramaniakumar with asset quality challenges unfounded: RBL Bank It remained well capitalised and post its recent Tier 2 capital raise on May 13, 2022, the capital adequacy ratio had increased to approximately 17.8 percent, the private lender said. What led to the speculation? Close The explanation from the private lender came a day after the shares of RBL Bank tanked 23 percent on June 13 following the announcement of R Subramaniakumar as new CEO for three years. Who is R Subramaniakumar? Subramaniakumar has been a banker for over 40 years. He was appointed the … [Read more...] about RBL Bank investors reading too much into Subramaniakumar’s DHFL stint?
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R Subramaniakumar, new RBL Bank chief (File image) R Subramaniakumar, a veteran banker with over four decades of experience, was on June 11 announced as the new managing director and chief executive officer of RBL Bank. The board of directors has confirmed his appointment as the MD and CEO of the bank for a "period of three years", the private lender informed the stock exchanges. The announcement came nearly six months after RBL's long-term head Vishwavir Ahuja stepped down , and the bank had to appoint Rajeev Ahuja at the helm for an interim period. Who is R Subramaniakumar? As a banker, Subramaniakumar began his career more than 40 years ago, in 1980, with the state-run Punjab National Bank (PNB). Close His tenure with the PNB lasted for 35 years, and he was eventually elevated as the bank's general manager -- a position he held for three years between 2013 and 2016. Subramaniakumar joined the Indian Overseas Bank in October 2016 as its MD and CEO … [Read more...] about Who is R Subramaniakumar, the new MD & CEO of RBL Bank?
Prateek Agrawal is the Business Head & CIO at ASK Investment Managers “Overall, I would stay focussed on earnings and valuations and policy making in India rather than what is happening elsewhere. This should be especially true because the influence of foreign capital on the Indian market is reducing," Prateek Agrawal - Business Head and Chief Investment Officer (CIO) of ASK Investment Managers, told Moneycontrol in an interview. Large FPI selling has been readily absorbed by MFs, insurance, Pension and PF funds and this is a structural change that has taken place, he believes. Agrawal's preferred valuation methodology, at present, is to look at 5-year PE averages and earnings yield to bond yield indicators. "These indicators point to an index target of 18,250 to 18,500 over 2022. This leaves just about 7 percent upside from the present levels," says Agrawal, who has over 27 years of experience in capital markets, with long, distinguished stints in sell side research, … [Read more...] about Daily Voice | With valuations no longer cheap, volatility could recur: Prateek Agrawal of ASK Investment Managers