IndusInd Bank on Thursday named Santosh Kumar as its deputy CFO, with effect from April 18.
Kumar will head the finance and accounts functions till IndusInd appoints a full-time CFO, the lender said, after deputy CEO Arun Khurana's term as finance chief ends.
IndusInd, India's fifth-largest private lender by assets, has been grappling with elevated bad loans in the microfinance segment, leading to a drop in profit in the last two quarters.
Its shares have fallen 15% since March 10, when the bank reported an accounting discrepancy in the way it booked currency derivatives stretching back at least six years, with an estimated impact of $175 million.
Kumar will head the finance and accounts functions till IndusInd appoints a full-time CFO, the lender said, after deputy CEO Arun Khurana's term as finance chief ends.
IndusInd, India's fifth-largest private lender by assets, has been grappling with elevated bad loans in the microfinance segment, leading to a drop in profit in the last two quarters.
Its shares have fallen 15% since March 10, when the bank reported an accounting discrepancy in the way it booked currency derivatives stretching back at least six years, with an estimated impact of $175 million.
