Former CGM at Hyderabad SBI, Hardayal Prasad appointed as Managing Director & CEO of SBI Card

Hyderabad, February 5th, 2018: SBI Card, the country`s second largest credit card issuer, today announced the appointment of Mr Hardayal Prasad as the company`s new Managing Director and Chief Executive Officer. Mr. Prasad takes over from Mr. Vijay Jasuja who retired on January 31st, 2018, following a successful tenure with the company.

Mr Prasadjoined State Bank of India, India`s largest and oldest bank, as a ProbationaryOfficer in 1983. He has rich experience in many areas of banking and has servedin several geographical locations spread across different Circles and abroad.He has held multiple leadership positions at State Bank of India includingChief General Manager, LHO-Hyderabad; General Manager, LHO - Mumbai; DeputyGeneral Manager (B&O), Bareilly; Deputy General Manager (O&C), Lucknowand Vice President (Trade & Systems), Los Angeles Agency USA among others.

Commentingon the appointment, Mr. Dinesh Khara, MD (R,IT&S), State Bank of Indiasaid, “We are pleased to appoint Hardayal Prasad as the MD & CEO of SBICard. With his strong track record and extensive experience, we believe he isthe right person to lead the rapidly growing credit cards business. We are keento expand our marketshare in the credit card business and are confident thatHardayal will be able to build on the success that Mr. Vijay Jasuja helped thecompany to achieve.”

Mr HardayalPrasad, MD & CEO, SBI Card said, “SBI Card has seen robust growth over thelast few years and has become the fastest growing credit card issuer in thecountry. A wide portfolio of innovative products catering to diverse consumersegments, commitment to quality and a strong ethos of trust and transparencyhas resonated with our customers making us a trusted and preferred brand formillions of consumers across the country. This has catapulted SBI Card tonumber two position in the industry.

As Indiaprogresses rapidly towards a digital economy, our business is at an excitingstage.  We believe there is tremendous opportunity for further growth andinnovation at this time.  Going forward, constant innovation to developbest in class payments solutions that meet evolving consumer needs, coupledwith enhanced customer experience at every touch point, will fuel the nextphase of our growth. With customer centricity at our core and continued supportof our cardholders, we look forward to strengthening our footprint towardsmarket leadership position. As a leading card issuer with extensive reachacross the country, we believe we can contribute significantly to India`sdigital revolution. We are committed to partnering in the endeavour to create acashless society.”

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