African Bank names group chief risk officer

Source: Supplied. Prishy Padayachee, African Bank's Group Chief Risk Officer.

Padayachee is a seasoned banking professional and leader, with considerable experience in risk management of retail, business and Corporate & Investment banking segments. He was previously the Head: Group Credit, Business and Commercial clients at Standard Bank.

“Sound risk management is a crucial element of our strategic journey,” says African Bank Group chief executive officer Kennedy G Bungane.

“We are the stewards of a banking legacy far greater than ourselves, and Prishy’s expertise is a welcome addition to our team as we strive to safeguard that legacy for the benefit of generations to come.”

Through an audacious strategy adopted in 2021, Excelerate25, African Bank has experienced significant growth in customer numbers and profitability, and the diversification of its revenue streams. As part of its strategic journey, the bank acquired both Grindrod Bank, and the assets and liabilities of Ubank in 2022, followed by the Capital Equipment Finance and Commercial Property Finance businesses of Sasfin Bank in 2023.

Guided by its vision of a bank for the people, by the people, serving the people, and inspired by its rich heritage, the bank is determined to leave a positive impact in the communities it serves, and in the South African economy as a whole.

“I’m delighted to be joining African Bank at such an exciting juncture,” says Padayachee. “This is a different kind of bank – a bank with a sense of purpose that transcends mere profit margins. I feel privileged to be able to play my part in the continued growth of African Bank and look forward to the many new developments and innovations already planned for 2025.”