Central Bank of India

Union Bank of India and Central Bank of India have announced appointments for their new Managing Directors (MDs), marking a strategic shift in leadership for the two state-owned banks. These appointments come amid a focus on strengthening governance, enhancing operational efficiency, and accelerating growth in retail and corporate banking segments. The newly appointed MDs bring extensive experience in financial management, risk assessment, and strategic planning, signaling the banks’ commitment to robust leadership and sustainable growth.

Union Bank of India and Central Bank of India have appointed new Managing Directors (MDs), marking a significant leadership transition within two of India’s major public sector banks. The appointments aim to strengthen governance, enhance operational efficiency, and support strategic growth initiatives. The new MDs bring extensive experience in banking, finance, and risk management, positioning both banks to navigate evolving market dynamics, regulatory requirements, and digital transformation efforts.

Central Bank of India reported a strong financial performance for the first quarter of FY25, posting a 33% year-on-year increase in net profit to Rs. 1,169 crore. This growth was supported by healthy expansion in net interest income, improved asset quality, and a decline in provisions. The state-owned lender’s operating metrics continue to show a positive trajectory, reflecting a strategic focus on retail lending, digital banking, and prudent risk management.