On May 1, 2025, Equitas Small Finance Bank Limited (ESFBL) made an important announcement regarding the change in its senior management personnel. The appointment of Mr. Jagadesh J as the new Head-Assets was officially disclosed in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and related SEBI circulars. This decision follows the recommendation of the Nomination and Remuneration Committee and the approval of the Bank’s Board of Directors.

Details of the Appointment

The appointment of Mr. Jagadesh J, effective May 1, 2025, is a significant step for Equitas Small Finance Bank, as he will be succeeding Mr. Rohit Phadke, the current Head-Assets, who will retire on June 30, 2025. This strategic change is in line with the Bank's succession planning to ensure continuity in leadership and operational stability within the organization.

Professional Background of Mr. Jagadesh J

Mr. Jagadesh J is a seasoned banking executive with an impressive career spanning 23 years, 15 of which have been dedicated to his role at Equitas Small Finance Bank. He holds a management degree from BIM, Trichy, and has a broad range of experience in various banking sectors, including Sales, Receivables, Credit, and Process Control. His expertise has been instrumental in the establishment of the Bank's Small Business Loan vertical.

Before his tenure with Equitas, Mr. Jagadesh J held significant roles at several reputed organizations, such as HLL, Apollo Tyres, and ICICI Lombard. His depth of experience, combined with his knowledge of banking operations and credit management, will be pivotal as he steps into his new role at Equitas.

Impact on the Bank’s Operations

The appointment of Mr. Jagadesh J to the position of Head-Assets is expected to bring continuity and enhanced leadership to Equitas Small Finance Bank's strategic direction. His extensive experience within the Bank and his successful track record in various functions provide a solid foundation for driving growth and innovation in the Bank’s assets and credit divisions.

Equitas Small Finance Bank’s leadership transition also ensures a seamless shift in key responsibilities ahead of Mr. Phadke’s retirement. The Bank remains committed to maintaining its operational excellence and meeting the needs of its stakeholders throughout this change in senior management.

Regulatory Compliance and Disclosure

In line with the SEBI regulations, the Bank has disclosed the details of this appointment, including Mr. Jagadesh J's professional profile and the effective date of his appointment. This move is in accordance with the requirements of SEBI’s Circular No. SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123, issued on July 13, 2023, ensuring full transparency in the Bank's senior leadership changes.

Conclusion

Equitas Small Finance Bank's appointment of Mr. Jagadesh J as Head-Assets reflects the Bank’s commitment to leadership excellence and operational continuity. With his vast experience and deep knowledge of the Bank’s operations, Mr. Jagadesh J is poised to contribute significantly to the Bank’s future growth. As the Bank prepares for the retirement of Mr. Rohit Phadke, this leadership transition underscores Equitas’s ongoing commitment to maintaining stability while driving innovation within the financial sector.

This disclosure reinforces Equitas Small Finance Bank's commitment to transparency and regulatory compliance, ensuring that shareholders and other stakeholders are kept informed of key changes in the Bank’s leadership structure.

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