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Rajnish Kumar says SBI will transform in three years

THE ASIAN AGE.
Published : Oct 5, 2017, 12:55 pm IST
Updated : Oct 5, 2017, 2:40 pm IST

Kumar was on Wednesday appointed new SBI chairman after appointments committee cleared is name.

SBI chairman designate Rajnish Kumar.
 SBI chairman designate Rajnish Kumar.

Mumbai: A day after he was named new chairman of State Bank of India, SBI, Rajnish Kumar on Thursday in an address to the media said that he will work towards transforming country's largest public sector lender.

"In 3 years, you will see a bank which has completely transformed itself. We have 420 million customers, news agency ANI quoted Kumar as saying. Kumar is all set to take over from incumbent Arundhati Bhattacharya who has been occupying the post since 2013.

 Kumar has been heading National Banking Group unit as managing director and CEO at the SBI. His name was finalised by the Cabinet's appointments committee on Wednesday. Earlier, Banks Board Bureau along with Kumar had interviewed three other managing directors at the SBI.

In October 2016, Bhattacharya was given a year's extension to complete the pending merger of its five sister banks and newly formed Bharatiya Mahila Bank. The coming together of all these banks has landed the SBI in the league of global top lenders. SBI now ranks 45 among world's top banks.

From April this year, all the five SBI associate banks -- State Bank of Bikaner and Jaipur, State Bank of Hyderabad, Sate Bank of Mysore, State Bank of Patiala and State Bank of Travancore -- officially merged with SBI.

Tags: sbi, state bank of india, rajnish kumar, sbi new chairman, arundhati bhattacharya
Location: India, Maharashtra, Mumbai (Bombay)