Indian Bank appoints Binod Kumar as MD & CEO

Indian Bank said that its board has approved the appointment of Binod Kumar as a managing director (MD) and chief executive officer (CEO) of the company with effect from 16 January, 2025.

Binod Kumar is a Graduate in Science from Ranchi University and holds Post Graduate Diploma in Banking & Finance from NIBM, Financial Risk Manager (FRM) from GARP (USA) and a Certified Associate Member of Indian Institute of Bankers (CAIIB).

He started his banking career with PNB in 1994 and was elevated to the position of Executive Director in November 2022. With over three decades of experience in the banking sector, he has held various positions, including Chief General Manager (Corporate Credit), Zonal Manager, and served as CEO of PNB Operations at the Dubai International Financial Centre. He has also served as the nominee director on behalf of PNB on the Board of PNB Housing Finance and India SME Asset Reconstruction Company (ISARC).

Indian Bank is a public sector bank. The Government of India held a 73.84% stake in the bank as on 30 September 2024.

The banks net profit increased 36.2% to Rs 2706.44 crore on a 12.9% rise in total income to Rs 17,769.68 crore in Q2 FY25 as compared with Q2 FY24.

Shares of Indian Bank shed 0.73% to Rs 523.35 on the BSE.

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