Bank of Baroda recently announced the appointment of Chayani Manoj Sundar as its chief financial officer (CFO), effective from June 21, 2024. Chayani Manoj Sundar, a Chartered Accountant and ICWA with a Bachelors degree in Commerce, brings with him approximately 19 years of experience working in the bank. He has a strong background in financial and credit operations.
Resignation of Desouza Ian Gerard
In light of pursuing a career opportunity outside the bank, Desouza Ian Gerard has resigned from the position of chief financial officer (CFO) at Bank of Baroda.
Overview of Bank of Baroda
Bank of Baroda is one of India’s largest banks, known for its strong domestic presence. It operates through a network of 8,243 branches and 11,033 ATMs and Cash Recyclers, supported by self-service channels. The bank also has a significant international presence, with 91 overseas offices spanning across 17 countries. As of March 31, 2024, the Government of India held a majority stake of 63.97% in the bank.
Financial Performance
In the fourth quarter of the fiscal year 2023-24, Bank of Baroda’s standalone net profit grew by 2.33% to Rs 4,886.49 crore, accompanied by a 15.18% rise in total income to Rs 33,774.87 crore, as compared to the same quarter of the previous fiscal year.
Stock Performance
On the Bombay Stock Exchange (BSE), the bank’s scrip experienced a slight decline of 0.19%, currently trading at Rs 284.65.
