SBI Card has announced the appointment of Mr. Hardayal Prasad as the new Managing Director and Chief Executive Officer of the comapny. Mr. Prasad takes over from Mr. Vijay Jasuja post his retirement on January 31st, 2018.
Commenting on the appointment, Mr. Dinesh Khara, MD (R,IT&S), State Bank of India said, “We are pleased to appoint Hardayal Prasad as the MD & CEO of SBI Card. With his strong track record and extensive experience, we believe he is the right person to lead the rapidly growing credit cards business. We are keen to expand our market share in the credit card business and are
confident that Hardayal will be able to build on the success that Mr. Vijay Jasuja helped the company to achieve.”
Mr Prasad joined State Bank of India as a Probationary Officer in 1983 and has held multiple leadership positions at State Bank of India. SBI Card is the joint venture between State Bank of India and GE Capital and is India’s second largest credit card issuer with a customer base of 50 lakh and also holds the second position with an average spend of INR 5,500 crore a month.
Mr Hardayal Prasad, MD & CEO, SBI Card said, “SBI Card has seen robust growth over the last few years and has become the fastest growing credit card issuer in the country. A wide portfolio of innovative products catering to diverse consumer segments, commitment to quality and a strong ethos of trust and transparency has resonated with our customers making us a trusted and preferred brand for millions of consumers across the country. This has catapulted SBI Card to number two position in the industry.
As India progresses rapidly towards a digital economy, our business is at an exciting stage. We believe there is tremendous opportunity for further growth and innovation at this time. Going forward, constant innovation to develop best in class payments solutions that meet evolving consumer needs, coupled with enhanced customer experience at every touch point, will fuel the next phase of our growth. With customer centricity at our core and continued support of our cardholders, we look forward to strengthening our footprint towards market leadership position. As a leading card issuer with extensive reach across the country, we believe we can contribute significantly to India`s digital revolution. We are committed to partnering in the endeavour to create a cashless society” adds Mr. Prasad.
About SBI Card
SBI Cards and Payment Services Private Limited (SBI Card) is an Indian financial services company to offer Indian consumers extensive access to a wide range of world-class, value-added payment products and services. Presently, the brand has a wide customer base of over 5.7 million. With a market share of 16%, SBI Card operates through over 100 locations in India.
SBI Card is based on the value proposition of “Make Life Simple” for its consumers and is committed to partnering the Digital India vision by extending best in class cashless payments solutions across the country.