On Tuesday, Shares of Jaipur-based private lender AU Small Finance Bank tumbled in the rising market. The reports at early morning, that of another top-level exit from the bank, that of Sumit Dhir, its head of Internal Audit. 12.62 per cent down from the previous day’s close, the BSE scrip closed at Rs 1,130.75.
The bank said, “Mr Sumit Dhir has expressed his desire to move back to his hometown Delhi due to changes in his personal circumstances following Covid second wave.”
“He continues to be on our rolls as Head of Internal Audit and we remain in discussions with him for a possible retention,” added.
The bank has seven concurrent auditors, and about 50 members of the internal audit team, who have remained stable for the last four years.
AU Small Finance Bank disclosed on 29, August that Alok Gupta would be leaving his role as chief risk officer after he joined earlier this year. In July, Gupta resigned from his position however, the bank disclosed it last week.
The bank’s chief operating officer, Deepak Jain would take over as chief risk officer.
None of the other top 50 members of the bank’s management has resigned, according to the notification. The bank said, “Some challenges remain around Jaipur location which we are addressing by scaling up Mumbai and other regional offices at key cities (like Delhi, Pune, Indore, Chandigarh, etc).”
On Wednesday, the bank is also going to organize an investor call, in which the managing director and chief executive officer, the chairman of the board, and the chairman of the nomination and remuneration committee will address the call.
