Thursday, February 1, 2024

Banking Luminary L V Prabhakar - Former MD & CEO of Canara Bank, Joins Capri Global Capital Board

Capri Global Capital Ltd, a leading non-banking financial company, has strengthened its Board of Directors with the appointment of Mr. L V Prabhakar, former MD & CEO of Canara Bank, along with distinguished leaders Mr. Shishir Priyadarshi and Ms. Nupur Mukherjee as additional independent directors.

This strategic move, subject to shareholder approval, enhances the Board's strength to 9 independent directors, contributing to a diverse and robust leadership team in a Board comprising 10 directors, including the MD & CEO.

Mr. Rajesh Sharma, the Managing Director of Capri Global Capital Ltd, expressed enthusiasm about the prestigious appointments, stating, "We are honoured to welcome Mr. L V Prabhakar, Mr. Shishir Priyadarshi, and Ms. Nupur Mukherjee as additional independent directors. Their vast experience across the financial services ecosystem will significantly benefit Capri Global as we embark on our next phase of growth. Their rich and diverse backgrounds in banking, finance, technology, and ESG bring a fresh perspective to our deliberations. This appointment aligns with our commitment to fortify the Board and enhance its independence."

Brief Profile of New Board Members:

Mr. L V Prabhakar, former MD & CEO of Canara Bank, brings a rich experience in banking and finance, having held pivotal roles in public sector banks, AMCs, and insurance companies. He has been appointed for a period of 5 years.

Mr. Shishir Priyadarshi, a veteran bureaucrat, and the First Indian civil servant to serve as Director of WTO, adds a wealth of experience to the Board with over four decades in various national and global institutions, bringing a unique perspective. He has been appointed for a period of 3 years.

Ms. Nupur Mukherjee, a technology leader with a focus on data-driven solutions, cloud, and AI technologies, brings valuable experience from top Indian technology companies, serving as the Global Managing Director at Standard Chartered Bank and Barclays. She has been appointed for a period of 3 years.

This dynamic trio of new Board members underscores Capri Global's dedication to harness diverse expertise for sustained growth in the financial sector.

About Capri Global Capital Ltd:

Capri Global Capital Limited (CGCL) is a diversified Non-Banking Financial Company (NBFC) listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) and is part of the NIFTY Small cap 250 Index. The Company operates in high-growth segments such as MSME Loans, Affordable Housing Finance, Gold Loan, and Construction Finance. The Company also acts as a corporate distributor for car loan products of six leading commercial banks. CGCL offers its loan products to the unbanked and underserved masses across Northern and Western geographies of the country, through its strong network of 700+ branches spread across 12 States and Union Territories. The tech-enabled processes and recently introduced business analytics ensure that CGCL offers products tailored to meet the requirements of borrowers with a solid governance and risk-control framework. CGCL enjoys a robust credit rating of ‘CARE A+ (Outlook Stable)’ for its long-term borrowing program and NCDs and the highest rating of ‘IVR A1+’ for its short-term borrowing program. The Housing Finance business is rated ‘CARE A+ (Outlook Stable)’ for its long-term borrowing program. The Company has bagged ‘Best BFSI Brand 2021’ by The Economic Times and received certification as a Great Place to Work from Great Place to Work Institute for 2023-24 for a second consecutive year.

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