Bank Of Maharashtra Names Subhasish Roy As Chief Risk Officer

Bank of Maharashtra has announced the appointment of Subhasish Roy as its Chief Risk Officer for a contractual period of three years, effective from 1 April 2024. Roy brings with him a wealth of experience, having pursued qualifications including Financial Risk Manager (FRM), MBA, M.Phil, M.Sc and CAIIB. With over 28 years in the banking industry, he has expertise in various domains such as fraud risk management, data analytics, credit risk management, operational risk, retail and corporate banking, among others.

Before joining Bank of Maharashtra, Roy served at IDBI Bank for over 23 years, handling diverse roles in risk management, retail and corporate banking. He has also worked at Canara Bank and IFCI earlier in his career.

Bank of Maharashtra, a prominent public sector bank in India, is backed by the Government of India, holding a substantial stake of 86.46 per cent as of 30 September 2023. The bank reported a consolidated net profit of Rs 1,038.40 crore in Q3 FY24, marking a significant increase from Rs 776.81 crore in Q3 FY23. Its total income for Q3 FY24 stood at Rs 5,851.55 crore, reflecting a robust year-on-year growth of 22.7 per cent.

Following the announcement, the bank's stock surged by 4.64 per cent to close at Rs 65.18 on Monday, 1 April 2024.