SBI appoints Alok Kumar as new Managing Director; stock marginally up

8 Jun 2022 , 09:55 AM

State Bank of India has appointed Alok Kumar Choudhary as the new Managing Director effective from the date of assumption of office and up to the date of his superannuation.

Alok has assumed the office of Managing Director effective from June 7, 2022.

This appointment has been made in pursuance of the notification issued by the Department of Financial Services, Ministry of Finance, Government of India.

Alok joined the State Bank of India as a Probationary officer in 1987 and has worked across multiple domains including Retail Banking, MSME, Commercial Banking, Agri & Rural Business, Human Resources, Branch Management, and Finance.

He has a rich experience of over 35 years in various leadership and functional capacities at Branches, Regional Offices, Zonal Offices, Local Head Offices, and Corporate Office levels.

Prior to his appointment as Managing Director, Alok was the head of the finance vertical of the Bank working as Deputy Managing Director (Finance).

He has also headed the HR vertical of the Bank leading multiple, complex, and high-impact initiatives.

State Bank of India is currently trading at Rs464.95 up by Rs1.6 or 0.35% from its previous closing of Rs463.35 on the BSE. The scrip opened at Rs467.40 and has touched intraday high and low of Rs467.40 and Rs464 respectively.