Mr. PH Ravikumar takes charge as the Managing Director
Mr. PH Ravikumar has assumed charge of Money Matters Financial Services Ltd., a leading non banking finance company as the Managing Director. Mr. Ravikumar is driving the change in the business orientation of the NBFC, converting the Company from, a fee income earning entity to a lending entity.
- (1888PressRelease) May 11, 2013 - The new businesses being built are medium term loans for small enterprises (which rank as priority sector loans in banks books) for asset and capacity creation, smaller real estate project as sole lender; further current and emerging opportunities in housing including affordable housing and distressed asset sectors are being studied.
Regarded as a veteran in Indian banking and financial services industry, Mr. Ravikumar holds more than four decades of experience across areas of retail, corporate and treasury banking in India and abroad. His operational grounding was with Bank of India for over two decades. He was part of the core team that set up ICICI Bank Limited. During his association with ICICI Bank for over a decade, Mr. Ravikumar went on to play a pivotal role in conceptualizing and establishing National Commodities & Derivatives Exchange Ltd. (NCDEX), India's first commodity exchange. As Managing Director and CEO, Mr. Ravikumar made NCDEX profitable four years ahead of schedule and positioned it among the three largest agro-commodity exchanges globally. Prior to joining Money Matters, Mr. Ravikumar served as the CEO & Managing Director at Invent Asset Securitisation & Reconstruction P. Ltd for about four years, among the leading ARCs in the country, which he again established from inception.
Under the leadership of Mr. Ravikumar, Money Matters looks to build gradually a distribution set up in eight to ten chosen states. The intent is to emerge as the choice NBFCs for small enterprises. . He has succeeded Mr. Rajesh Sharma, erstwhile Chairman & Managing Director, who resigned to pave way for the building of a professionally managed organisation.
About Money Matters Financial Services Ltd
Money Matters Financial Services Limited (MMFSL) is a Non-Banking Finance Company (NBFC) focussed on wholesale and SME lending. As on December 31, 2012, MMFSL's consolidated net worth was approx. Rs. 884 crore. During last two years the company has disbursed loans aggregating (approx) Rs. 1,100 crore and the loan book outstanding as March 31, 2013 stood at approx. Rs. 410 crore. MMFSL is focused on the priority sector in the SME lending business providing loans for purchase of machinery and equipment, working capital, and for acquisition of real assets. In its wholesale lending business, MMFSL provides loans for project funding, acquisitions, structured debt financing and receivables discounting. For more information, visit www.money-matters.in
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