The government has appointed Ashwani Kumar as managing director of UCO Bank in place of Soma Sankara Prasad whose terms comes to an end. Kumar is currently an executive director of Indian Bank and prior to this, he served as Chief General Manager of Punjab National Bank. The central government appoints Ashwani Kumar as managing director and chief executive officer in UCO Bank for a period of three years, the Finance Ministry said in a notification. The appointment comes into effect from the date of assumption of office on or after June 1, 2023 or until further orders.
Kumar, a chartered accountant, rose through ranks serving various offices of five public sector banks — Bank of Baroda, Corporation Bank, Oriental Bank of Commerce, Punjab National Bank and Indian Bank. His work experience includes working in wholesale banking division and as head of several branches (including Industrial Finance Branches). As general manager, he was heading mid corporate and large corporate verticals and was also chief financial officer.
Kumar, an experienced banker, succeeds S S Prasad as the MD and CEO of UCO Bank.
He had earlier worked in Bank of Baroda, Corporation Bank, Oriental Bank of Commerce, Punjab National Bank and Indian Bank.