Pankaj Kundra is the Regional Head of Payments at Mashreq UAE. In this role, he has overall P&L responsibility Mashreq’s Payments Business including Consumer Credit Cards, Commercial Cards, Debit Cards and the Merchant Acquiring business. He is also responsible for driving all Innovation-linked initiatives for the Payments business. Pankaj has 17 years of banking experience across various countries. He holds an M.B.A. from the University Of Chicago, Booth School of Business.
Prior to joining Mashreq Dubai, Pankaj was the Head of Retail Banking at Mashreq Egypt, where he led the turnaround of the retail bank from a loss-making to a profitable business franchise through increasing the revenue streams in a consistent and sustainable way. During his stint in Egypt, Pankaj managed to increase the Liabilities book by 200% and Asset book by 250% including an exponential growth in the Cards portfolio (300% growth in 24 months), 85% in loans through rapid customer expansion, launch of new products, straight through processing, investing in digital and social media marketing and improving the service culture. The main pillars of growth that he built for Mashreq Egypt were Cards, Personal Loans, Liabilities, SME and Mashreq Gold Business.
From 2007 to 2013 Pankaj was Sr. Vice President and Business Head – Mass Market Segment and Auto Business at Fullerton Financial Holdings in UAE. He was part of the founding team that set up and built a world class consumer finance company in the UAE from the ground up. He was involved in many aspects of the company including credit policy, product development, setting up the branch network, sales management, etc.
From 1999 to 2007, Pankaj worked at Citigroup in India, Bahrain and Egypt in various leadership roles. His last role was Cards Business Head for Citibank in Egypt.