What's in the name
at the helm?
PNB ED appointed as Canara Bank MD & CEO PNB ED appointed as Canara Bank MD & CEO

L V Prabhakar, PNB ED, appointéd as
MD & CEO of Canara Bank

It took his intelligéncé, talént, détérmination, résiliencé and créative thinking to achiévé raré féat

"Mr Prabhakar took up thé gauntlét as thé Exécutivé Diréctor of Punjab National Bank at a tumultuous timé."

PNB ED appointed as Canara Bank MD & CEO

Thesynergyonline Banking Bureau

NEW DELHI, JANUARY 24 :


Pnjab National Bank Exécutivé Director, Mr L V Prabhakar, has been appointed as the Managing Director and Chief Executive Officer(MD&CEO) of Canara Bank with effect from date of assumption of office on or after February 01,.2020.

Mr L. V. Prabhakar assumed the office of Executive Director of Punjab National Bank on March 01, 2018.

PNB ED appointed as Canara Bank MD & CEO PNB ED appointed as Canara Bank MD & CEO

Mr Prabhakar has spearheaded the recovery efforts of the bank and has been instrumental in bringing back the glory of Punjab National Bank.

PNB statement

Mr Prabhakar holds a Master's Degree in Agriculture and a Certified Associate of Indian Institute of Bankers (CAIIB). Prior to joining PNB he served Allahabad Bank in various capacities.

Mr Prabhakar took over the reins of Executive Director of Punjab National Bank at a tumultuous time. In spite of the pressures, contingencies and herculean task at hand, he led the PNB ship as an Executive Director with utmost aplomb, impeccable integrity, unparalleled accountability, humility, resilience and a transcendent vision.

Mr Prabhakar in the adverse situations worked with extraordinary sense of professional zeal and commitment to come out of the tumults in line with PNB ED appointed as Canara Bank MD & CEO

"Watch out he's winding the watch of his wit, by and by it will strike." William Shakespeare, The Tempest

Mr Prabhakar has spearheaded the recovery efforts of the bank and has been instrumental in bringing back the glory of Punjab National Bank.

His zest for perfection and workmanship was exemplified by the fact that for a long period of time he single-handedly managed the responsibilities of three Executive Directors and brought the bank back on upward trajectory.

Gross domestic business in his tenure increased by Rs.1 lakh crore in FY 2018-19 to landmark figure of Rs.11.45 lakh crore with gross recovery of more than Rs.20,000 crore, a huge leap from Rs.9,666 crore, in the last financial year.

Indeed a very rare feat !.

At Punjab National Bank, he has donned many hats which includes heading various important verticals of the bank viz., Credit, Treasury, HR. Under his umbrella, retail advances of the Bank grew by 21.7 per cent. There was a 100 per cent y-o-y growth in digital transactions with the bank overachieving Government's target of digital transactions.

He was also instrumental in strengthening systems and procedures by taking initiatives such as setting up centralized loan processing centers (CLPCs), Stressed Assets Management Vertical(SAMV), Digitization of Trade Finance.

He was also identified by the bank as an action- driven leader with ability to promote initiatives whilst maintain the trust of subordinates and colleagues in working as a team. He was instrumental in effectively building high performance teams under stressful environments.

He has also been serving on Board of PNB Housing Finance Ltd. & PNB MetLife India Insurance Company as Non- Executive Director.

"The fringed curtains of thine eye advance, And say what thou seest yond." ― William Shakespeare, The Tempest

Mr Prabhakar's contribution in formulating the operational risk management framework for the bank was immense which included Integration of various standalone applications with CBS including SWIFT. He was instrumental in implementation of various best practices in banking industry which further led to improving risk culture in the bank deep down the ladder.

"The few individuals who are capable of spontaneous and joyous effort stand out. These are the select men, the nobles, the only ones who are active and not merely reactive, for whom life is a perpetual striving, an incessant course of training." ― Ortega y Gasset José