Mumbai : The Government on Tuesday announced the appointment of K Satyanarayana Raju as Managing Director and CEO of Canara Bank.

He replaced L V Prabhakar who demitted office on 31 December 2022.

"The Government of India  appointed Shri. K Satyanarayana Raju as MD and CEO with effect from 07.02.2023," read a statement issued by the bank.

K Satyanarayana Raju has also served Canara Bank as Executive Director since Mar 10,2021.

K Satyanarayana Raju is a Physics Graduate, Post Graduate in Business Administration (Banking and Finance) and CAIIB.

He has joined erstwhile Vijaya Bank in 1988 and has risen to the level of Chief General Manager in Bank of Baroda.

During his 33 years of long banking career he has headed various Branches for 12 years including Specialised Corporate Banking Branch.

He was Regional head of Shimoga, Vijayawada, Hyderabad and Mumbai. He was also Zonal Head of Mumbai Zone which is the Biggest Zone of the Bank.