State Bank of Mauritius’ subsidiary SBM Bank India appoints Ashish Vijayakar as MD & CEO

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State Bank of Mauritius' subsidiary SBM Bank India appoints Ashish Vijayakar as MD & CEO
State Bank of Mauritius' subsidiary SBM Bank India appoints Ashish Vijayakar as MD & CEO

I extend my gratitude to the Board for entrusting me with the leadership responsibility for steering SBM Bank India towards the next phase of growth, says Ashish Vijayakar.

Ashish Vijayakar has been appointed as SBM Bank India’s Managing Director and Chief Executive Officer, effective February 17, for a term of three years. The announcement was made on Friday. SBM Bank India is a subsidiary of the State Bank of Mauritius.

According to a statement, the appointment was made in accordance with the approval granted by the Reserve Bank of India (RBI) in its letter dated February 6, 2024.

With almost thirty years of experience in the banking and financial services industry, Vijayakar is a seasoned banker. He was previously the MD and Co-Head of Standard Chartered Bank.

Sattar Hajee Abdoula, Chairman, SBM Bank India, said, “We are confident that Ashish will, together with the existing management team, reinforce the existing bonds between the bank and its stakeholders and provide seamless continuity to the service to our customers while enhancing the spectrum of strategic endeavours of the bank with his expertise. His foresight and unwavering dedication to excellence perfectly align with our objectives and aspirations.”

Ashish Vijayakar, MD & CEO, SBM Bank India, said, “I look forward to working closely with the talented team at SBM Bank India to further enhance the robust groundwork established by my predecessors and foster sustainable growth that brings value to all stakeholders. I extend my gratitude to the Board for entrusting me with the leadership responsibility for steering SBM Bank India towards the next phase of growth.”

Vijayakar graduated with an LLB (General) from Bombay University and a CA from the Institute of Chartered Accountants of India.

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