Bengaluru, India – 06 February, 2020: Canara Bank, a public sector lender announces the retirement of the Managing Director and Chief Executive Officer R A Sankara Narayanan. Lingam Venkata Prabhakar will be taking the chair in the coming years according to the central government report.

“Over a fast-growth career spanning 32 years in the Bank, he has held multi-furious roles such as Head,

Treasury operations, Zonal Manager, General Manager, National Banking Group and at Corporate Office etc., besides 2 foreign stints at Tokyo and Singapore”, says Canara Bank.

Prior to this, he was the chairman of Bangalore based Vijaya Bank, which was merged with Bank of Baroda. He completed his post graduation in public administration with an MBA master’s in finance. He started his career with Bank of India as an officer in the year 1983.

Canara bank is owned by government of India and is the largest public sector bank. The bank is headed in Bangalore and was established in Mangalore in the year 1906. Canara Bank has its offices in different countries all over the word. The bank had built its status in the Universal subdivision in the year 1976. The government of India declared to nationalise Canara Bank with thirteen other commercial banks in the year 1969. Later the bank became the first Indian Nationalised Bank to get ISO certificate in the year 1996. Finance Minister in the year 2019, announced the merging of Syndicate Bank with Canara Bank. This merging will create the fourth biggest public sector bank in India.

The central government will appoint L V Prabhakar as the new MD and CEO of Canara Bank in the coming years. He is currently the executive director at Punjab National Bank. Before joining PNB he served in Allahabad Bank in different ranks. He has a master degree in agriculture and is a certified associate of Indian Institute of Bankers.