Partha Pratim Sengupta appointed new MD, CEO of Indian Overseas Bank

Source :ANI
Author :ANI
Last Updated: Sat, Jul 25th, 2020, 11:23:07hrs
The bank has about 3,400 domestic and six foreign branches

Chennai (Tamil Nadu) [India], July 25 (ANI): Partha Pratim Sengupta, Deputy Managing Director and Chief Credit Officer at State Bank of India, has been appointed as the new Managing Director and Chief Executive Officer of Indian Overseas Bank.

His appointment will be up to date of attaining the age of superannuation which is December 31, 2022 or until further orders whichever is earlier, the bank said in regulatory filings at stock exchanges.
The post fell vacant after the superannuation of Karnam Sekar who retired on June 30. Sengupta has also resigned from the position of Non-Executive Director of Yes Bank.
Under a government-approved reconstruction scheme, Yes Bank had received equity of Rs 10,000 crore from State Bank of India which is now holding 48.2 per cent stake and other domestic financial institutions.
During his over three decades of experience with State Bank of India, Sengupta served in various capacities across different geographies. He has hands-on experience in both retail and corporate banking.