In a recent development, Debadatta Chand has taken charge as the Managing Director and Chief Executive Officer (CEO) of Bank of Baroda (BOB) from July 1, 2023. With a remarkable experience of over 29 years in the banking and financial services sector, Chand brings a wealth of knowledge and expertise to his new role.
Bank of Baroda, one of India’s leading banks, currently enjoys a market capitalization of INR 1.01 trillion as of August 2, 2023. This impressive figure translates to approximately Rs. 1,00,000 crore. The bank’s share price stood at Rs. 194.85 on Wednesday, indicating a positive trajectory in the market.
Chand’s journey in the banking industry began in 1994 when he started as an Officer at Allahabad Bank. He then went on to serve as a Manager at the Small Industries Development Bank of India (SIDBI) between 1998 and 2005. Chand holds a bachelor’s degree in engineering from Orissa University of Agriculture and Technology, and he further pursued an MBA in Finance and General studies.
Additionally, he holds a coveted CAIIB qualification and a PG Diploma in Equity Research, making him well-equipped for his leadership role at the Bank of Baroda.
Prior to assuming the prestigious position of MD and CEO, Chand served as the Executive Director at Bank of Baroda from March 2021, showcasing his dedication and commitment to the organization. Notably, he also had an illustrious tenure at Punjab National Bank (PNB), where he joined in 2005 as Chief Manager and gradually rose to the position of Chief General Manager. Chand successfully handled various crucial responsibilities during his 15-year tenure at PNB, including overseeing the Zonal Audit Office in Patna, heading the Bareilly Region, leading Integrated Treasury Operations, and managing the Mumbai Zone.
Currently, Debadatta Chand also serves on the Boards of BOB Capital Markets Ltd., India Infradebt Limited, and Baroda Financial Solutions Limited, among others, demonstrating his extensive involvement in the finance and investment sectors. His previous experience also includes serving on the Boards of PNB Principal Mutual Fund and SWIFT India Pvt. Ltd. as a nominee director of Punjab National Bank.
With Chand’s diverse expertise and leadership skills, the Bank of Baroda can expect to witness further growth and strategic advancements in the competitive banking landscape. His appointment marks a significant milestone in the bank’s journey, and stakeholders eagerly await the positive impact he will bring to the institution.