Indusind Bank Limited has informed the Exchange regarding Appointment of Mr Mr. Viral Damania as Chief Financial Officer of the company w.e.f. September 22, 2025.
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IndusInd Bank has appointed Mr. Viral Damania as its new Chief Financial Officer and Key Managerial Personnel, effective September 22, 2025. Mr. Damania is a qualified Chartered Accountant, Company Secretary, and Cost & Works Accountant with over 27 years of experience in banking and professional services. He most recently served as CFO of Bank of America India, overseeing both the bank branch entity and BofA Securities India Ltd, and also previously worked with Citibank N.A. and Price Waterhouse Coopers. As a result of this appointment, Mr. Santosh Kumar's additional role as Special Officer-Finance & Accounts and his KMP categorization have ceased with immediate effect, though he will continue as Deputy CFO of the Bank. The decision was approved by the Board at its meeting held the same day.
This is a positive signal for shareholders as the bank has brought in a seasoned external finance leader from a top global bank, which should help strengthen financial governance and rebuild credibility. The streamlined finance leadership structure with a clear CFO and Deputy CFO suggests improved accountability.