Bank of Baroda has named Chayani Manoj Sundar as its new Chief Financial Officer (CFO), effective from June 21, 2024. Chayani, a seasoned professional with over 19 years of experience in the banking sector, brings expertise in financial and credit operations. He holds qualifications as a Chartered Accountant and ICWA, complemented by a Bachelor’s degree in Commerce.
Chayani Sundar succeeds Ian Gerard Desouza, who resigned from the CFO position to pursue opportunities outside the bank. Bank of Baroda, one of India’s largest public sector banks, boasts a robust domestic footprint with 8,243 branches and 11,033 ATMs, supported by extensive self-service channels. Internationally, the bank operates through 91 offices across 17 countries.
As of March 31, 2024, the Government of India holds a significant 63.97% stake in Bank of Baroda. In Q4 FY24, the bank reported a standalone net profit increase of 2.33% to Rs 4,886.49 crore, driven by a 15.18% rise in total income to Rs 33,774.87 crore. Currently trading at Rs 284.65 on the BSE, the bank’s stock saw a marginal decline of 0.19%.
This appointment underlines Bank of Baroda’s strategic move to strengthen its leadership team amidst evolving financial landscapes both domestically and globally.
