AU Small Finance Bank announced on Monday that its Board of Directors has approved the appointment of Anil Agarwal as Senior Executive Group Head for Commercial & Institutional Banking, effective 14 September 2026, following a recommendation from the bank's Nomination and Remuneration Committee.
The bank's press release announced Agarwal's appointment alongside that of Amol Padhye, who took charge as Chief Risk Officer on 1 September 2026 after the board approved his appointment in July. Both roles are categorised as Senior Management Personnel positions within the bank's leadership structure.
AGARWAL BRINGS TWO DECADES FROM AXIS BANK
Agarwal joins AU Small Finance Bank from Axis Bank, where he spent more than two decades prior to taking up his new role. Before Axis Bank he worked with IFCI in project finance and credit. The bank said his appointment is expected to further strengthen its Commercial & Institutional Banking franchise as it expands its national presence and institutional coverage capabilities.
The appointments come as AU Small Finance Bank, India's largest small finance bank, works to strengthen its leadership in commercial and institutional banking as well as risk management. The bank is also the first entity in over a decade to receive in-principle approval from the Reserve Bank of India to transition into a universal bank, and said the appointments strengthen its leadership as it prepares for that proposed transition.
FOUNDER CITES LEADERSHIP DEPTH
Founder, Managing Director and Chief Executive Officer Sanjay Agarwal said investing in leadership depth remained a key priority as the bank builds a future-ready institution balancing scale with sustainability and long-term value creation.
AU Small Finance Bank's shares trade on the NSE under the symbol AUBANK and on the BSE under code 540611.
Both appointments were approved by the Board of Directors on the recommendation of the Nomination and Remuneration Committee (Padhye's in July, alongside the Risk Management Committee).
The press release announcing the appointments linked the appointments to the bank's preparations for its proposed transition to a universal bank.
Padhye, a Chartered Accountant with over 23 years of experience in risk management, previously held senior leadership roles at HDFC Bank and EY.
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