PNB Housing appoints Neeraj Vyas as interim CEO

KOLKATA: PNB Housing Finance CEO Sanjaya Gupta has resigned, one week before his planned retirement, after which an independent Manager of the company Neeraj Vyas taken charge as interim chief.

The company’s board of directors has initiated a process to find a new CEO with the CEO, it said in a regulatory filing.

“In light of the end of his term of office, which went up on May 4, Sanjaya is today deducted from his active duties and from his role as CEO and CEO of the company, which has its effect from closed hours on April 28 , ”the company said.

Vyas, a former deputy chief executive officer and chief executive of State Bank of India, will be leading the affairs for a period of eight months, effective April 28. I am a member of the Board of Directors for Mortgage Loans in 2019 and have also been a member of the Board’s Credit Committee since then.

“On behalf of the Board, I would like to thank Sanjaya for his dedication and commitment

PNB Housing Finance for the last 10 years, ” PNB Housing chaiman Mallikarjuna Rao was quoted as saying in a press release from the company.

PNB Housing Finance has gained a significant market share in recent years to become the fourth largest housing finance company in India in terms of advances and the second largest in deposits, Rao said. The company is in the process of raising up to Rs 1700 crore in the sale of shares to institutional investors.

Punjab National Bank (PNB), the promoter with 32.43 per cent. Share, will not participate in share sales. “We will not go below 26 percent. Our fire (PNB) will continue, and in case of demands, we will not hesitate to support,” Rao said.

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