Non-banking financial company Fullerton India Credit Company Ltd has appointed a new CEO and MD, it said on Tuesday.
Shantanu Mitra will take up his new role with effect from April, Fullerton India said in a statement. This will not be Mitra’s first stint with the NBFC, including in these positions; previously, he was associated with the Temasek-owned firm between 2010 and 2017.
Initially, Mitra served as head of consumer risk for parent company Fullerton Financial Holdings, following which he took up the role of CEO and MD with Fullerton India.
Fullerton India Credit Company board chairman Shirish Apte said his appointment will help the company grow its businesses and deepen its position in key products and geographical areas.
Mitra has over 40 years of experience in the financial services sector, including more than 20 years at Standard Chartered and Citibank across the India, Singapore and Thailand business regions.
Fullerton India began operations in 2007, and is registered as an NBFC - Investment and Credit Company with the Reserve Bank of India. The company is a wholly owned subsidiary of Fullerton Financial Holdings Pte Ltd, which itself is fully owned by Singapore state investment firm Temasek.
The company says it operates in verticals including personal and business loans, SME loans, and housing finance. It has more than 14,000 employees who serve over 3.6 million customers across the country.
According to VCCEdge, the company reported consolidated net sales of Rs 5,808.51 crore for the 2019-’20 financial year, with post-tax profits of Rs 760.44 crore for the same period.
In 2016, Fullerton India launched home financing unit Fullerton India Home Finance Company Ltd, which operates under the Grihashakti brand. In November last year, VCCircle exclusively reported that its parent had received interest from private equity firms to buy the housing arm.