<article>Zarin Daruwala will join as the India chief executive officer at <a style="color: #000080;" href="https://www.sc.com/in/" target="_blank">Standard Chartered Bank</a>, the international lender said in a statement on Tuesday.
Daruwala was president of the wholesale lending team at <a style="color: #000080;" href="http://www.icicibank.com/" target="_blank">ICICI Bank Ltd</a>. Daruwala will report to Ajay Kanwal, regional CEO, ASEAN &amp; South Asia at Standard Chartered.</article>

Zarin Daruwala will join as the India chief executive officer at <a style="color: #000080;" href="https://www.sc.com/in/" target="_blank">Standard Chartered Bank</a>, the international lender said in a statement on Tuesday.
Daruwala was president of the wholesale lending team at <a style="color: #000080;" href="http://www.icicibank.com/" target="_blank">ICICI Bank Ltd</a>. Daruwala will report to Ajay Kanwal, regional CEO, ASEAN &amp; South Asia at Standard Chartered.
In July, Standard Chartered had announced a revamp of its core management team. Sunil Kaushal, who was heading the India operations, was moved and appointed as regional chief for Africa and Middle East.
Daruwala, who had taken over as head of ICICI Bank’s wholesale banking team in July 2010, has led teams in corporate banking, project finance, structured finance, financial institutions, government and public sector banking, and has also helped build ICICI’s rural and agri-finance offering.
The private sector lender’s domestic corporate loan book contributed 28.4% to the Rs.4 trillion worth of advances as on 30 September, according to an analyst presentation by ICICI Bank.
On Monday, ICICI Bank said its board has appointed Vishakha Mulye as executive director. Mulye, who is managing director and chief executive officer of<a style="color: #000080;" href="http://www.iciciventure.com/" target="_blank"> ICICI Venture Funds Management Co</a>, will be in charge of the wholesale banking business at ICICI Bank, after her appointment.
An ICICI Bank spokesperson declined comment.
Daruwala takes over as the head of Standard Chartered’s India operations at a time when the lending is still struggling to clean up its balancesheet. While the bank showed strong growth in profitability for the year ended 31 March, it reported a further increase in bad loans.
The bank reported a gross non-performing assets (NPAs) ratio of 8.9% at the end of March compared with 7.82% at the end of March 2014. The bank had the second largest gross NPA ratio among Indian banks for the year.
However’s Standard Chartered’s net profit rose 93% to Rs.3,051 crore from Rs.1,584 crore in the previous financial year, helped by a drop in provisions as it kept expenses under check.
Provisions for NPAs dropped 24% to Rs.2,862 crore from Rs.3,743 crore in March 2014 and net NPAs as a percentage of net advances dropped to 0.34% from 0.45%.
The UK-based lender’s group executive Bill Winters earlier this month had said Standard Chartered would continue to cut down its exposure to commodities business in India, which includes companies involved in trading as well as mineral and oil extraction.
With 100 branches, Standard Chartered Bank has the largest network in the country among all foreign banks.
Also Read: <a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/standard-chartered-to-pare-commodity-business-in-india-china-says-chief-exec-bill-winters-18240/" target="_blank">Standard Chartered to pare commodity business in India, China, says chief exec Bill Winters</a>
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StanChart appoints former ICICI Bank exec Zarin Daruwala as new India CEO

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