Federal Bank appoints Sumit Kakkar as Chief Credit Officer

Private sector lender Federal Bank on Tuesday announced the appointment of Sumit Kakkar as Chief Credit Officer with effect from Aug. 29, 2016.

The Kerala-headquartered bank said that Kakkar has over 20 years of work experience.

Before joining Federal Bank, Kakkar held several posts at various organisations such as Yes Bank, and HDFC Bank at functions including commercial bank, credit risk and institutional lending.

The share price of Federal Bank closed at Rs. 67.70, up 0.97 percent from its previous close.

A few days ago, public sector bank Bank of Baroda had announced appointment of Ashok Kumar Garg as executive director of the bank.

Garg was in charge of Bank of Baroda's U.S. operations before his elevation, the second-largest public sector lender said in a statement.