In a significant change of policy, government has roped in private sector professional Rakesh Sharma as Managing Director and Chief Executive Officer to run one of its largest banks – Canara Bank (Nationalized in 1969).
Canara bank Headquarter – Bengaluru
Canara Bank Tagline – Together We Can
The move is seen as a part of process to reform the public sector banking industry, which accounts for over 70 per cent of the banking business, but struggling to deal with mounting non-performing assets (NPAs). Canara Bank reported a 41 per cent drop in net profit for the April-June quarter at ₹479 crore.
About Rakesh Sharma
- Before being appointed to head Canara Bank he was the MD and CEO of Lakshmi Vilas Bank since March 2014.
- Prior to his stint in Lakshmi Vilas Bank, Sharma served State Bank of India in various roles wherein he had raised to the level of Chief General Manager.
- SBI posted him in Tokyo, where he was in charge of overall functioning of SBI’s branches in Japan.
- Sharma’s main expertise lies in retail and wholesale banking, corporate credit, asset liability management, loan syndication, trade finance, industrial relations and human resources issues.
Canara Bank new Non-Executive Chairman – T N Manoharan