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Rakesh Sharma took over as Managing Director and CEO of Bengaluru-headquartered Canara Bank on Friday.
Before being appointed by the Government to head Canara Bank, Sharma was the MD and CEO of Lakshmi Vilas Bank since March 2014, where, in a short span of 18 months, he helped the private sector lender excel in all parameters, an official statement said.
With over three decades of experience in the banking sector, 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.
Prior to his stint in Lakshmi Vilas Bank, Sharma served State Bank of India in various roles, including in Tokyo where he was in charge of the overall functioning of SBI branches in Japan. Sharma joins Canara Bank at a time when the public sector lender’s profitability has come under pressure amidst worsening asset quality. Canara Bank reported a 41 per cent drop in net profit for the April-June quarter at ₹479 crore over corresponding the period last year on higher provisioning.
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