SBI Cards and Payment Services said that its board approved re-appointment of Rama Mohan Rao Amara as managing director (MD) & chief executive officer (CEO) of the company for a further period of one year effective from 30 January 2023.
Rama Mohan Rao Amara has been nominated by State Bank of India for the re-appointment. It is however, subject to approval of shareholders and other necessary approvals as may be required.Rama Mohan Rao Amara is an engineering graduate, and also has renowned financial accreditations namely CFA and FRM and is a Certified Associate of Indian Institute of Bankers (CAIIB). Rao, deputy managing director in State Bank of India (SBI), took the helm at SBI Card on 30 January 2021.
SBI Cards and Payment Services is a non-banking financial company that offers extensive credit card portfolio to individual cardholders and corporate clients.
The company's net profit jumped 52.1% to Rs 525.64 crore on 28.1% rise in total income to Rs 3,453.32 crore in Q2 FY23 over Q2 FY22.
The scrip rose 0.24% to currently trade at Rs 775.70 on the BSE.
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