Indian Overseas Bank on Thursday appointed Partha Pratim Sengupta, deputy managing director and chief credit officer at State Bank of India, as managing director and chief executive officer (CEO). Mr Sengupta replaces Karnam Sekar, who retired on June 30. Mr Sengupta is a career banker with more than three decades of experience in SBI, Indian Overseas Bank said in a regulatory filing. The appointment of Mr Sengupta will be till the date of attaining superannuation, which is December 31, 2022, or until further orders, whichever is earlier.
Mr Sengupta has resigned from the position of non-executive director at Yes Bank. Under a government-approved reconstruction scheme, Yes Bank had received equity of Rs 10,000 crore from State Bank of India and other domestic financial institutions. State Bank of India now holds a 48.2 per cent stake in the private sector lender.
During his more than 30 years of experience with State Bank of India, Mr Sengupta served in various capacities across different geographies.
He joined SBI as a probationary officer in February 1987. Before assuming the role of deputy managing director and chief credit officer in September 2018, he was the chief general manager of SBI's Kolkata Circle.
Prior to that, he was general manger at SBI's mid-corporate regional office in Pune.