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DafriBank Names New Chief as it Explores Commercial Banking Role in Nigeria


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DafriBank, the South Africa-based borderless digital-only financial institution, has named a new chief executive officer. The new CEO Ramaswamy Easwara holds multiple academic degrees, including a Bachelor’s in Accountancy. He also holds an ACMA degree from the Institute of Cost Accounting of India (ICAI) and several certifications in blockchain technology, data analytics, and artificial intelligence.

He has over 18 years of experience working for blue-chip financial institutions such as HSBC; ABN Amro, BNP Paribas; and IndusInd Bank.

In a statement issued by Dafri Bank, the company said that Easwara whose appointment takes effect from 1 September, will lead the growth and sustainability ambition of the digital bank. He also worked in multiple large-scale projects and provided successful implementation, operations, solutions delivery and structuring deals, business management, which involved data analytics and presentation to the management team.

“Following a rigorous and extensive search process, we are pleased to have appointed someone of Easwaran calibre, experience, and ability to fill the important position,” said Xolane Ndhlovu, chairman, DafriGroup PLC. “Easwaran’s strong knowledge of digital banking and successful background in financial services put him in an excellent position to lead the growth and sustainability of DafriBank.”

DafriBank also announced that it had commissioned the construction of a new head office in Lagos, Nigeria as part of its plans to migrate from digital-only operations to commercial banking in 2023. The company has subsidiaries in Nigeria and a presence in 23 countries.

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