ESAF Small Finance Bank has announced the appointment of George Ittan Maramkandathil as a Non-Executive Director for a three-year term, following shareholder approval at the bank's 9th Annual General Meeting (AGM).

Key Details of the Appointment

• Term: November 18, 2025, to November 17, 2028
• Approval Date: September 24, 2025 (9th AGM)
• Position: Non-Executive Director
• Shareholding: 2.58% stake in the bank

About George Ittan Maramkandathil

George Ittan Maramkandathil brings a wealth of experience to his new role:

• Current Position: CEO and Founder of AST Group of Companies
• Professional Experience: 43 years
• Career Highlights:
  • Started as a CAD Team Leader at Rice Perry Ellis and Partners in 1982
  • Founded AST Group in 1985

Governance Aspects

• Maramkandathil is not related to any existing directors of ESAF Small Finance Bank.
• He will be subject to retirement by rotation as per the bank's Articles of Association.

Other AGM Outcomes

The 9th AGM of ESAF Small Finance Bank, held on September 24, 2025, also approved several other important resolutions:

1. Statutory Auditors: Appointment of M/s. Sundaram & Srinivasan, Chartered Accountants, as one of the Joint Statutory Auditors for a period of three consecutive financial years.

2. Secretarial Auditors: Appointment of M/s. SEP and Associates as the Secretarial Auditors for a period of five consecutive financial years.

3. Debt Securities: Approval for borrowing/raising funds through the issue of debt securities on a private placement basis.

Voting Results

The appointment of George Ittan Maramkandathil as Non-Executive Director received overwhelming support from shareholders:

This strong endorsement reflects shareholders' confidence in Maramkandathil's potential contributions to the bank's board.

ESAF Small Finance Bank's decision to bring Maramkandathil on board aligns with its commitment to strengthening corporate governance and leveraging diverse expertise for its growth strategy. As the bank continues to expand its operations, the addition of experienced professionals to its leadership team is likely to play a crucial role in shaping its future direction.

ESAF Small Finance Bank has announced significant strategic decisions aimed at strengthening its capital base and preparing for future growth. The bank's Board of Directors has approved several key measures in a meeting held on September 20, 2025.

Capital Raising Initiatives

The Board has given its approval for raising Tier I capital through the issuance of equity shares. This capital raise can be executed through various methods, including:

• Rights issue
• Preferential issue
• Private placement
• Qualified institutional placement

The bank may also opt for a combination of these methods, to be implemented in one or more tranches. This decision is subject to shareholder approval, highlighting the bank's commitment to transparent governance.

Increase in Authorised Capital

In a move to support its growth plans, ESAF Small Finance Bank has also approved an increase in its authorised capital. The proposal involves amending Clause V (Capital Clause) of the Bank's Memorandum of Association to raise the authorised capital from Rs. 600.00 crores to Rs. 1,000.00 crores. This significant 66.67% increase is pending approvals from both the Reserve Bank of India (RBI) and the bank's shareholders.

Management Changes

The bank has also announced a forthcoming change in its senior management. George Thomas, currently serving as the Executive Vice President of Human Resources, will be relieved from his responsibilities effective September 30, 2025. This decision comes before the completion of Thomas's contractual tenure and is attributed to personal reasons.

ESAF Small Finance Bank has assured stakeholders that suitable internal arrangements have been made to manage the transition in the Human Resources department.

Regulatory Compliance

In line with regulatory requirements, ESAF Small Finance Bank has made these disclosures under Regulation 30 and 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The bank has also confirmed that these announcements are available on its official website for public access.

The Board meeting where these decisions were made commenced at 9:30 A.M. and concluded at 12:15 P.M. on September 20, 2025.

These strategic moves by ESAF Small Finance Bank indicate its focus on strengthening its capital position and preparing for potential expansion opportunities in the evolving banking landscape.