Mumbai-based asset finance company, Magma Fincorp Limited, announced the appointment of Deepak Patkar as its CEO ABF business.
Commenting on the appointment, Sanjay Chamria, Vice Chairman and Managing Director, Magma Fincorp Limited said, “Deepak has been working with us since Sep 2018 as Group Chief Risk Officer and has been a member of the strategic leadership committee (ExCom) for our financing businesses. I am confident that Deepak is the right leader to take Magma Fincorp’s ABF business into the next chapter. The board and management has complete faith in Deepak’s ability to lead the ABF business. He has necessary strategic leadership qualities required to guide the business on path of quality growth and ensure consistent returns to the shareholders.”
“I am humbled by the confidence posed by the board in me. It is an absolute honor to take up the responsibility of guiding the ABF business at Magma. I see a very strong and committed team which is confident of navigating these challenging times,” Deepak said. “Magma has embarked on a path to achieve consistent growth with emphasis on credit quality, through innovation and the use of Technology.”
Deepak Patkar has over 2 decades of professional experience across multiple disciplines including sales, collections, audit assurance and risk management across multiple industries including banking and non- banking financial services, manufacturing and IT. Deepak has understanding of how the urban and rural segment operates in the lending business for products like commercial vehicles, mortgages, MSME, microfinance, credit cards and other secured and unsecured loans and is a hands on professional with deep expertise. During various stages of his career, he has been instrumental in developing road maps for business strategy initiatives covering sales, credit and collections.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.