VMPL
New Delhi [India], November 26: Spandana Sphoorty Financial Limited announced the appointment of K. Venkatesh as its new Managing Director & Chief Executive Officer. This strategic leadership addition comes at a crucial time as the Company continues to demonstrate strong business momentum alongside sustained operational improvements. Over the past six months, Spandana has shown green shoots in its performance with month on month improvement across all key business metrics.
In his previous role, Venkatesh led and successfully revitalised HDFC Bank's sizable microfinance portfolio. With over three decades in financial services, he has held senior leadership positions at HSBC, IFMR, LT Insurance, and HDFC Bank. He brings deep sector expertise in retail lending, microfinance, rural markets and has successfully steered businesses across business cycles. His strong grounding in rural banking aligns closely with Spandana's focus on financial inclusion, positioning him well to drive the company's next phase of expansion and impact.
Speaking on his appointment, K. Venkatesh, MD & CEO of Spandana Sphoorty, stated, "I am truly honored to join Spandana at this pivotal moment. The company boasts a robust foundation, a resilient business model, and a profound connection with the communities it serves. I am confident in leading the business through a transformative journey towards becoming a high-quality lending franchise, supported by the Board and Kedaara".
Abanti Mitra, Chairperson, Spandana Sphoorty, stated "I am particularly excited to welcome Venkatesh to our leadership team. Having witnessed the evolution of microfinance over the years, I am confident that Venkatesh's deep expertise and strategic vision will propel Spandana to new heights."
As Spandana's promoter and largest shareholder, Kedaara Capital remains deeply committed to supporting its growth through its partnership-driven approach, including committing INR 200cr towards the recent rights issue by the Company.
Sunish Sharma, Founder & Managing Partner, Kedaara Capital, said: "Venkatesh's extensive sector experience and understanding of rural India's financial needs will be instrumental in strengthening Spandana's vision and execution. Kedaara is deeply committed to help Spandana realize its true potential".
With Venkatesh's appointment, Mr. Ashish Damani, who had been serving as Interim CEO, will cease to be the Interim CEO and continue in his position as President & Chief Financial Officer of the Company.
Notes to Editor:
About Spandana Sphoorty:
Founded in 1998, Spandana Sphoorty Financial Limited is a is a publicly listed microfinance institution (NBFC-MFI) with a robust presence across 20 states and union territories in India. With an extensive distribution network of approximately 1,700 branches, Spandana serves a dedicated customer base of 1.6 million women borrowers. The company specializes in providing microfinance loans, empowering women to achieve financial independence and improve their livelihoods.
As of September 30, 2025, Spandana Sphoorty boasts an Assets Under Management (AUM) of INR 4,088 crore, reflecting its commitment to fostering economic growth and financial inclusion.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same.)
