Shubhalakshmi Panse took charge as chairman and managing director of state run Allahabad Bank replacing J P Dua who had retired in August.
Panse joined Bank of Maharashtra as probationary officer. In her last role she was executive director of Bangalore based Vijaya Bank from November 2009. At Vijaya Bank she handled all the portfolios as she was the only executive director in the bank. She has handled almost all the segments of banking in various capacities including recovery, credit, fund management, law, accounts, IT.
She has got a MSc and diploma in business management and masters in management science from University of Pune. She has also done CAIIB and MBA from Drexel University, USA. She will be at the helm of the Kolkata based bank till January 2014.
Allahabad Bank reported 23 per cent rise in net profit at Rs 514 crore in the first quarter of 2012. The bank expects 20 per cent credit growth this year.
The banks total business was at Rs 2,67,329 crore with Rs 1,56,867 crore of deposits and Rs 1,10,462 crore advances at June end.