Public sector UCO Bank Limited announced that Soma Sankara Prasad has resigned from the role of Managing Director and Chief Executive Officer of the bank, with effect from May 31, 2023.
According to the Bank’s exchange filing, “We hereby inform that Shri Soma Sankara Prasad who was appointed on the Board of our Bank as Managing Director & Chief Executive Officer vide Government of India notification eF.No.4/1/2021- BO.I dated 28.12.2021 under Section 9(3)(a) of Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, demitted his office on 31.05.2023 on completion of his tenure.”
Soma Sankara Prasad assumed the office of Managing Director & CEO of UCO Bank on 01.01.2022. Prior to this, he was holding the position of Deputy Managing Director and Group Compliance Officer at State Bank of India.
Prasad holds Master of Commerce degree and in his career spanning 35 years, he has held important assignments in various capacities in Treasury operations, Retail, Corporate Credit, Insurance and International Banking.
Prasad has had two stints abroad. He headed the Singapore Operations of State Bank of India, as Country Head from November 2014- April 2019. He was Manager (Credit and Operations) at Paris Branch of State Bank of India from September 2002 – November 2006.
He has also worked as Regional Manager at SBI Hyderabad, as Chief Financial Officer at SBI General Insurance Co. Ltd. and as MD & CEO at SBI Pension Funds Pvt Ltd.
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