The appointment is effective from the date of the assumption of office, 1 June 2023 or until further orders whichever is earlier.

Ashwani Kumar assumed office of MD & CEO of UCO Bank in place of Soma Sankara Prasad who demitted the office on 31 May 2023.

Kumar is a chartered accountant, post graduate in commerce and also a certified member of Indian Institute of Banking and Finance. He has more than two decades of rich experience in banking. Prior to joining UCO Bank as MD & CEO, he was executive director of Indian Bank.

UCO Bank is engaged in providing wide range of banking and financial services including retail banking, corporate banking and treasury operations.

The bank's net profit jumped 86% to Rs 581.24 crore on 36.35% increase in total income to Rs 5,946.94 crore in Q4 FY23 over Q4 FY22.

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