Microfinance outfit GFSPL appoints new CEO

Microfinance Focus, September 9, 2010: Bangalore (India) based NBFC microfinance institution, Grameen Financial Services Pvt Ltd (GFSPL) announces to appoint Mr. Udaya Kumar as the new Chief Executive Officer.  In his new role, He will be overlooking the activities of GFSPL and its business divisions – Grameen Koota and Maarg.

Mr.Uday Kumar, CEO,GFSPL

Mr.Udaya Kumar is a veteran with experience of 25 years in the field of banking and finance sector. He has previously worked with ICICI Bank for over 12 years; he rose up the ladder from an Officer to a Zonal Head for Southern Region in his tenure. Prior to joining Grameen Financial Services, he was also spearheading the commercial, payment and branch operation at Barclay’s bank.

GFSPL has a portfolio outstanding of INR 330.17 crore (approx USD 70 mn) with a client base of half a million spread across 37 districts in Southern Indian states , Karnataka, Maharashtra and Tami Nadu.  The company aims to reach a client base of 2 million in seven states in the next two years.

Mr. Suresh Krishna, Managing Director, Grameen Financial Services says “We are very happy to have on board with us Mr.Udaya Kumar who possesses extensive expertise in the rural banking sector. I am sure his experience, insights and skills will help GFSPL reach newer heights. He will be leading our management team and assisting me in leading the company to success.

On being appointed as the CEO of Grameen Financial Services, Mr. Uday Kumar said; “I am proud to be associated with the mainstream social sector industry, which has been my long term personal goal.  Associating myself with GFSPL is a big positive change for me after serving 25 years in Banking Industry. I am excited to venture into this and explore my career and being positive about my contribution to take GFSPL to newer heights. My task will be to guide the team with my diverse experience and build on this strong foundation in developing an institution which will reach out to masses for their wellbeing”.

Mr. Udaya Kumar has a degree in Certified Associate of the Indian Institute of Bankers (CAIIB) and also  Graduate from the ‘Bank Operations and Technology’ conducted by Bank Administration Institute, USA apart from a Master’s Degree in Banking.

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