Nilesh Shivji Vikamsey has been appointed as Part-Time Chairman of Federal Bank and the appointment has been approved by the Reserve Bank of India, the bank said.
CA. Vikamsey, who will assume office on 20th June 2015, succeeds Prof. Abraham Koshy, who retired from the Board of Federal Bank on 17th May 2015 on successful completion of his term of 8 years.
Vikamsey joined the Board of Directors of the Bank in June 2011 as an Independent Director.
“At Federal Bank, he was instrumental in ushering in professionalism and good governance in various areas more particularly to the Inspection, Audit, Accountancy and Credit practices,” the bank said. “The Bank also owes a lot to his erudition in improving a myriad of processes that are critical to the functioning of the Bank.”
A Chartered Accountant by profession, Nilesh Shivji Vikamsey is a member of the Central Council of the Institute of Chartered Accountants of India (ICAI) for the last 5 years, and also holds a Diploma in Information System Audit.
He has also done the Business Consultancy Studies Course of Jamnalal Bajaj Institute of Management Studies (JBIMS) jointly with Bombay Chartered Accountants Society. He is the senior partner of Khimji Kunverji & Co, a firm which has over 79 years of experience in the areas of Auditing, Taxation, Due Diligence, Valuations, Inspections, Investigations and Business Consulting and Advisory.
Federal Bank is a leading Private Sector Bank with a branch network of 1,247 branches and 1,497 ATMs spread across the country. The Bank’s total business mix (deposits + advances) stands at Rs 1.22 Lakh Crore as at March 31, 2015 and it has earned a net profit of Rs 1005.75 Crore.