AU Small Finance Bank clarifies on recent executive exits, says asset quality improving
- ByAyushi Ray | September 1, 2021
AU Small Finance Bank clarifies on recent executive exits, says asset quality improving. “Mr. Sumit Dhir has expressed his desire to move back to his hometown Delhi due to changes in his personal circumstances following Covid 2nd wave. He continues to be on our rolls as Head of Internal Audit and we remain in discussions with him for a possible retention,” said the bank in an exchange notification. “These retention discussions are as per our usual HR practices and strategy which we follow for the entire senior management team to manage business continuity, confidentiality, and competitiveness,” the bank said.
“Role of Internal Audit function is around ensuring adherence to internal control & processes designed and approved by the Audit Committee and the Board of Directors. We have a full fledged Internal Audit team with ~50 members and 7 external concurrent audit firms which have remained stable over the last 4 years,” the bank added. Earlier, Alok Gupta, chief risk officer had resigned citing personal reasons. Subsequently, the bank had appointed Alok Jain as the new CRO. “Appointment of a new CRO is a disclosable event (as per RBI Circular No. DBR.BP.BC.No.65/21.04.103/2016-17 dated 27th April 2017) which requires disclosure of the appointment of new CRO at the earliest or the last day of existing CRO’s term, which we made within the regulatory timelines,” AU Bank said in the clarification.
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