State Bank of India announced that Rama Mohan Rao Amara has been appointed as managing director (MD) of the bank for a period of three years with effect from 18 December 2024.
Rama Mohan Rao Amara was holding the position of deputy managing director & chief risk officer of SBI until his appointment as MD.Further, Kshitij Mohan, deputy managing director (SARG), has been given the additional charge of deputy MD & group chief risk officer, effective from 18 December 2024 as well.
State Bank of India (SBI) is an Indian multinational, public sector banking, and financial services statutory body. As of 30 September 2024, the Government of India held a 57.51% stake in the bank.
The largest PSU banks standalone net profit rose 27.92% to Rs 18,331.44 crore on 15.13% increase in total income to Rs 129,141.11 crore in Q2 FY25 over Q2 FY24.
The scrip shed 0.88% to currently trade at Rs 831.70 on the BSE.
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