Shares of Equitas Small Finance Bank were trading 3% higher and hit a 52-week high of Rs 107.90 on 13 December after the company announced a key change in the top management.

In its regulatory filing, the company said that they have appointed senior managerial personnel Ashwini Biswal as its next chief compliance officer.

Ashwini Biswal will be replacing Srinivasan Krishnamurthy Purohit, whose tenure as the Chief Compliance Officer is set to expire on 27 January 2024. Purohit will be assigned a new charge after the completion of his term.

Ashwin Biswai has been associated with the lender since April 2017 and is currently in the senior vice president grade.

In its quarterly report for July-September, the company reported a 70% year-on-year increase in its net profit to Rs 198 crore from Rs 116.4 crore reported in the same quarter last year. The company’s net interest income saw a 25% YoY increase to Rs 765.6 crore during the quarter under review.

At 3:30 pm, the shares of Equitas Small Finance Bank closed 0.29% higher at Rs 104.20 on NSE.