Federal Bank appoints Cognizant's Rajesh Varrier as independent director
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Federal Bank on Friday appointed Rajesh Varrier as an independent director on its board for three years.
- ✓The bank also reported a 45% rise in net profit to Rs 1,386 crore for the September quarter.
- ✓Chief executive KVS Manian said, "We are growing faster while keeping the quality intact."
Story at a Glance
- Category
- MARKET
- Reported By
- Economic Times
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Federal Bank has appointed Rajesh Varrier as a non-executive independent director on its board. This decision follows the announcement of the bank's impressive financial results for the September quarter. Varrier previously served as president of global operations at Cognizant and brings extensive management experience. The bank reported a significant rise in net profit and net interest income in comparison to last year.
Bengaluru: Federal Bank on Friday appointed Rajesh Varrier, president of global operations at Cognizant, as an additional director (non-executive independent) on its board for three years, with immediate effect. The appointment comes as the Blackstone-backed lender announced its September quarter results.
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