Indian Overseas Bank Appoints SBI’s Partha Pratim Sengupta As CEO

Chennai:

Partha Pratim Sengupta, deputy managing director and chief credit score officer at State Bank of India, has been appointed as the brand new managing director and CEO of Indian Overseas Bank.

His appointment shall be updated of achieving the age of superannuation which is December 31, 2022 or till additional orders, whichever is earlier, the financial institution stated in regulatory filings to inventory exchanges.

The put up fell vacant after the superannuation of Karnam Sekar who retired on June 30. Mr Sengupta has additionally resigned from the place of non-executive director at Yes Bank.

Under a government-approved reconstruction scheme, Yes Bank had obtained fairness of Rs 10,000 crore from State Bank of India which is now holding 48.2 per cent stake and different home monetary establishments.

During his greater than three a long time of expertise with State Bank of India, Mr Sengupta served in numerous capacities throughout completely different geographies.

He has hands-on expertise in each retail and company banking.