Now Reading: Manappuram names Ashish Singh CEO from January 2027
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Manappuram names Ashish Singh CEO from January 2027
Manappuram Finance has appointed Ashish Singh as its managing director and chief executive officer from January 1, 2027, for a five-year term. Singh, who has more than 25 years of retail banking…
The Story in Brief
Manappuram Finance has appointed Ashish Singh as its managing director and chief executive officer from January 1, 2027, for a five-year term. Singh, who has more than 25 years of retail banking experience, currently heads retail liabilities at IDFC FIRST Bank. He has also led Bharat Banking at the bank and held senior roles at Fullerton India and ICICI Bank.
V P Nandakumar will remain managing director and chairperson until December 31, 2026, before becoming non-executive chairperson. The change follows Bain Capital’s proposed Rs 4,385-crore investment and joint control of the Kerala-based lender. Rediff reports that Manappuram’s first-quarter FY27 net profit rose 341.4 per cent to Rs 585 crore, while assets under management grew 57.2 per cent to Rs 69,635 crore.
The Indian Opinion
The easy story is that a private equity investor is simply replacing a promoter with a professional manager. The facts are more measured: Nandakumar remains in charge until the end of 2026, and Bain’s eventual holding depends on the open offer and warrant conversion. The real test will be whether Singh can grow lending without weakening gold-loan risk controls. Quarterly profit and asset growth will matter less than asset quality and recoveries over the next year.
Sources (2): bfsi.economictimes.indiatimes.com, rediff.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
