Former Dena Bank MD Karnam Sekar is set to take over as the new Managing Director and CEO of Indian Overseas Bank from July 1, 2019. He will take over from R Subramaniakumar, who was instrumental in taking measures to turn around the bank, which has been reporting loses due to high NPA.
Prior to joining as officer on Special Duty and Whole Time Director of IOB in April 2019, Sekar was the MD & CEO of Dena Bank till March 31, 2019. Earlier he was the Deputy Managing Director and Chief Credit Officer in State Bank of India heading its highest Credit Committee. In SBI, he was also responsible for forumlating loan policy of the bank.
Before SBI, he was working as Chief General Managing in Lucknow circle of SBI.