99.94 percent of the shareholders have approved the reappointment Vishwavir Ahuja As Managing Director and Chief Executive for the fourth term starting from June this year. Ahuja joined the bank in 2010 Bank of America And has been the force behind the lender’s successful listing in August 2016 and growing its balance sheet manifold.

Though the board in January this year approved his fourth three-year term till June 2024, in June the Reserve Bank approved his reappointment for only one year starting from June 2021.

According to voting results held at the September 21 annual general meeting, 99.94 percent of voting participants supported his reappointment as the mid-sized lender’s managing director and chief executive.

A veteran with over 35 years of experience, Ahuja joined RBL in 2010 and has been able to transform it into a vibrant, new age bank. Before joining the bank, he headed Bank of America India from 2001 to 2009.

Under his leadership at RBL, its business has grown 46 times and advanced more than 50 times, and its net profit has grown from Rs 12 crore in FY2011 to Rs 508 crore in FY21, while the subscriber base is only 2.5 increased by a million. FY11 around 1 crore now.

The bank now employs 17,000 people, which was over 700 when he took over.

The RBL counter on the BSE closed over 1.8 per cent higher at Rs 179, with its benchmark falling marginally.