Who is current ceo of sbi

Mr. Dipak Kumar De, General Manager of State Bank of India, is currently the Managing Director & Chief Executive Officer of Nepal SBI Bank Ltd. (NSBL). NSBL is the only listed subsidiary of State Bank of India (SBI) abroad and it is the largest set up of SBI outside India. NSBL was established in July 1993 and has emerged as one of the leading Banks of Nepal, with 921 skilled & dedicated local employees spread over 128 outlets - consists of 91 full-fledged branches, 21 extension counters, 8 Branch less Banking outlets, 7 Province offices and a Corporate Office. In addition, NSBL is also the first subsidiary of SBI to have a wholly owned merchant banking subsidiary “Nepal SBI Merchant Banking Limited”. Being the Head of the Management team, Mr. De is responsible for ensuring qualitative growth in business, improvement in efficiency parameters and enhancement of the value for the stakeholders of NSBL.

Mr. De started his career in 1995 as a Probationary Officer in SBI and has held diverse portfolios - Banking Operation, Branch Management, Credit Analyst, Trade Finance, International Banking, Transaction Banking, etc. During his illustrious career spanning over 26 years in State Bank of India, he has held several important positions viz. Assistant Manager (Trade Finance) at Antwerp, Belgium; Manager & Credit Analyst at MCG; Branch Manager at 4 different Branches; Head (New Business) at SBI DFHI Ltd. (a subsidiary of SBI); Vice President (Credit & OPS.) at Paris, Regional Manager in Kolkata and DGM (D&TB-CAG) at Corporate Centre, Mumbai.

Mr. De is the Administrative Head of NSBL, deputed under the Technical Services Agreement between NSBL and its foreign joint venture partner State Bank of India. He holds a Master’s degree in Science, Post Graduate in Executive Management Program (SPJIMR), Diploma in International Banking & Finance, Diploma in French Language, Diploma in Computer Application & COBOL, Certified Associate of Indian Institute of Bankers (CAIIB) and also a Certified Anti-Money Laundering Specialist (CAMS). He is an alumnus of prestigious S. P. Jain Institute of Management & Research.

Private non-life insurer SBI General Insurance on Thursday said it has appointed Paritosh Tripathi as Managing Director and Chief Executive Officer, effective July 5. He succeeds P C Kandpal, who has been posted as Deputy Managing Director (DMD)-(P&RE) at the Corporate Center, (SBI). Tripathi has over 32-years banking experience and has worked in various departments including MSME, mid-corporate segment, international banking and bancassurance, a release said.

Before joining

From 2017 to 2020, he was head - bancassurance, firstly with SBI Mutual Fund and then with SBI General Insurance. He was the CEO of SBI DIFC branch in Dubai.

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  Rajnish Kumar, Managing Director of State Bank of India (SBI), was appointed the next chairman of the largest public sector bank today.

  He will succeed Arundhati Bhattacharya, who is at present serving her one-year extension, that ends on Friday.

  The Appointments Committee of the Cabinet has approved the appointment of Kumar for a period of three years from October 7, according to an order issued by the Department of Personnel and Training (DoPT).

India’s largest lender State Bank of India (SBI) has appointed Alok Kumar Choudhary as its new Managing Director (MD) with effect from June 7, 2022. He has replaced former MD Ashwani Bhatia, who took charge as the whole-time member of the Securities and Exchange Board of India (SEBI).

“The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Financial Services for appointment of Shri Alok Kumar Choudhary, Deputy Managing Director (DMD), State Bank of India (SBI) as Managing Director (MD) in SBI with effect from the date of assumption of office and up to the date of his superannuation (i.e., 30. 06.2024), or until further orders, whichever is earlier," said SBI in a statement.

Apart from Choudhary, SBI with this appointment will have 4 MDs - CS Setty, MD in charge of retail banking; Swaminathan Janakiraman, MD in charge of stressed assets, risk and compliance; and Ashwini Kumar Tewari, MD in charge of international banking - led by the chairman Dinesh Kumar Khara.

Choudhary, who was previously Deputy Managing Director (Finance) at the bank, as the new MD of SBI will be handling the Retail Business & Operations of the lender. He has been associated with SBI for three and a half decades and started his career with the bank in 1987 as a Probationary Officer.

Choudhary, before becoming the DMD (Finance), has worked as DMD (HR) & Corporate Development Officer at SBI. He also had a stint as the Chief General Manager (CGM) of the SBI’s Delhi Circle for three years.

His past roles and profiles at SBI include GM, Network I, Ahmedabad; DGM, B&O, Delhi; as well as DGM & CDO, North-East Circle.

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SBI General Insurance Company Ltd. has announced Paritosh Tripathi as managing director and chief executive officer, effective 5 July. He was nominated by the parent company, State Bank of India, for the post and succeeds P.C. Kandpal.

Tripathi is in-charge of the SBI General Insurance’s overall business strategy & growth, operations, budgets, and strategic growth. He has over 32 years of banking experience. In the first half of his banking career, he had worked primarily in the MSME and mid-corporate segment, shifting international banking and Bancassurance later.

Before joining SBI General Insurance, Tripathi was general manager, operations, internal banking group, with State Bank of India and was also on the Board of Sterling Bank, Nigeria, and SBI Canada. 

From 2017 to 2020, he was Head Bancassurance, firstly with SBI Mutual Fund and then with SBI General Insurance. Prior to that, he was Head FI Relationship (East Asia) in Hong Kong and CEO SBI DIFC Branch in Dubai. Before taking up these international roles, he was with SBI Delhi Circle where he handled various assignments in the bank.

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State Bank of India (SBI) chairman Dinesh Kumar Khara takes home more than ₹34.42 lakh for the financial year, rising by 13.4% from his predecessor Rajnish Kumar. While the bank's four managing directors earned from ₹31.66 lakh to over ₹32.62 lakh.

SBI has announced its annual report for FY22. In the statement, SBI revealed that Khara's basic salary in FY22 stood at ₹27 lakh while dearness allowance stood at ₹7,42,500. Thereby, his total salary was at ₹34,42,500 for April 2021 to March 2022 period.

Khara took charge of SBI as chairman in October 2020. Before that, Khara served as the Managing Director (Global Banking & Subsidiaries) of SBI. Khara joined SBI as Probationary Officer in 1984 and has around 38 years of rich experience in all facets of Banking.

Dinesh Khara's salary jumped by at least 13.45% from the salary of his predecessor Rajnish Kumar at ₹30.34 lakh.

In FY21, Khara took home ₹38.12 lakh, out of which, ₹4 lakh were as incentives.

Meanwhile, SBI's managing directors Challa Sreenivasulu Setty earned over ₹32.62 lakh, Ashwani Bhatia took home ₹32.15 lakh, and Swaminathan Janakiraman bagged ₹31.74 lakh, and Ashwini Kumar Tewari earned ₹31.66 lakh.

In FY22, SBI paid around ₹1.52 crore to directors for attending meetings of the central board and board-level committees. SBI pays sitting fees of ₹70,000 to directors for attending Central board meetings, while the fee is ₹30,000 for attending the meetings of other Board-level Committees.

In the annual report, Khara said, "With the gradual improvement in economic activity, your Bank’s business has continued to show double-digit growth in FY2022."

On the outlook ahead, Khara said, "The time is, therefore, opportune to undertake the much-needed transformation of the Bank with an eye on emerging trends in banking, especially in India. Your Bank will thus continue to accelerate its digital agenda both in front and back offices. The scope and reach of SBI YONO will be expanded further and with an enhanced user experience. In business operations, your Bank will leverage advanced analytics for deeper insights on internal data and its best possible usage. Mutually beneficial partnerships with fin-techs and NBFCs will be explored further to increase penetration and reach of the Bank."

He also said that SBI is comfortably placed in terms of growth capital in the current year. He said opportunities for lending in promising sectors such as sectors identified under the PLI scheme and renewables as well as electric mobility will be explored to diversify the portfolio.

"Summing up, despite the economic headwinds, your Bank has adapted well to the challenges posed by the operating environment. I am more than hopeful that the performance achieved in FY2022 will show further improvement in FY2023," Khara added.

Unlike Khara, other government-owned banks' CEOs and MDs received more salary than him in FY22. Canara Bank MD and CEO, L V Prabhakar earned ₹36.89 lakh salary, while Bank of Baroda's MD and CEO Sanjiv Chadha received ₹40.46 lakh for FY22.

Meanwhile, the annual compensation to Khara is lower compared to chiefs of private banks for the financial year FY21. These private banks are yet to announce their annual report for FY22.

In FY21, the current CEO of HDFC Bank, Sashidhar Jagdishan earned ₹4.77 crore while his predecessor Aditya Puri withdrew ₹13.82 crore in the same fiscal. Further, Axis Bank's CEO and MD Amitabh Chaudhry took home ₹6.52 crore, while ICICI Bank's Sandeep Bakhshi's salary stood at ₹1.01 crore which is after voluntarily relinquishing his fixed compensation due to the pandemic.

Kotak Mahindra Bank's Uday Kotak took a salary of Re 1 in FY21 due to the pandemic, however, his salary was at ₹2.65 crore in FY20.

On BSE, SBI shares closed at ₹463.55 apiece flat compared to the previous closing. At the closing price, SBI's market cap stood at ₹4,13,700.37 crore.

In its research note post Q4, Geojit said, "SBI has shown a strong overall financial performance with a revival on retail loan book. Asset quality has also improved over the quarters. Management expects to have firm growth in the coming quarters despite rising inflation and input costs. SBIN is moving ahead with healthy PCR and capitalization and a positive outlook in Indian economy. Hence, we reiterate our BUY rating on the stock, with a revised target price of ₹606 using the SOTP methodology."

SBI is India’s largest bank. The bank operates 22,224 branches globally and has a vast network of 63,906 ATMs/CDMs. It provides a wide range of financial services, such as insurance, credit cards, and asset management, through its subsidiaries.

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