IndusInd Bank Appoints Santosh Kumar as Deputy CFO
Apr 17, 2025 20:17
IndusInd Bank has appointed Santosh Kumar, its Chief Accountant, as Deputy Chief Financial Officer. Kumar will take over the finance and accounts functions until a full-time CFO is appointed.
New Delhi, Apr 17 (PTI) IndusInd Bank on Thursday appointed its Chief Accountant Santosh Kumar as a Deputy Chief Financial Officer (CFO).
In a regulatory filing, IndusInd Bank said Whole-time Director (Executive Director) & Dy CEO Arun Khurana will be relieved from the additional charge of CFO.
"The Board of Directors at their meeting held today i.e. April 17, 2025 approved elevation of Santosh Kumar, Chief Accountant as Deputy Chief Financial Officer and Special Officer - Finance & Accounts and designated him as a 'Key Managerial Personnel' of the Bank, with effect from Friday, April 18, 2025," IndusInd Bank said.
Kumar is authorised to head the finance and accounts functions of the bank till a full-time CFO is appointed, it added.
Kumar, a qualified Chartered Accountant & Cost Accountant with over 20 years of experience in the field of Finance & Accounting, primarily focusing on planning & budgeting, taxation, reporting and cost management.
Currently in his role as Chief Accountant with IndusInd Bank, he is concentrating on streamlining costs and ease of reporting.
Prior to joining Indusind Bank Ltd., he was with ICICI Bank as Head - Financial Accounting and Reporting.
He has also worked with PwC, where he participated in consulting assignments with large corporates in all areas of finance, process control, risk assessment and compliance.
"The Board thanks Arun Khurana for discharging additional responsibility of CFO since January 21, 2025 and at the aforesaid meeting, relieved Khurana from this additional responsibility, with effect from close of business hours on April 17, 2025," IndusInd Bank said.
Last month, IndusInd Bank had reported accounting lapses in the derivative portfolio, which is estimated to have an adverse impact of approximately 2.35 per cent of the bank's net worth as of December 2024.
External agency PwC, which was appointed to assess the impact of the lapses on the bank's balance sheet, has quantified the negative impact of the above as of June 30, 2024, at Rs 1,979 crore in line with market estimates.
Shares of IndusInd Bank closed at Rs 794.40 apiece, up 0.78 per cent over the previous close on BSE.
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