The appointment is for a period of three years on contractual basis extendable by one year at a time subject to maximum term of five years upon satisfactory performance.

In a regulatory filing, the bank stated, ?CA Avinash Vasant Prabhu has been appointed as the chief financial officer (CFO) of the bank vice CA Prafulla Kumar Samal.?

Prabhu is a chartered accountant and a seasoned finance professional with more than 25 years of experience. Earlier, he has worked as a CFO India for Deutsche Bank. Prior to that, he has also served as CFO India for Credit Agricole CIB and as a manager with Arthur Andersen.

Union Bank of India is engaged in the business of treasury operations, corporate and wholesale banking, retail banking operations and other banking operations. The bank has a network of 8,521 branches including foreign branches, 10,013 ATMs as on 30 September 2023.

The bank?s consolidated net profit soared 92.7% to Rs 3571.80 crore on 23.3% jump in total income to Rs 28,952.50 crore in Q2 FY24 over Q2 FY23.

Shares of Union Bank of India traded 0.14% higher at Rs 108.80 on the BSE.

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