Canara Bank has appointed Amit Mittal as its new Group Chief Financial Officer (GCFO), marking a strategic move to bolster its financial leadership amid evolving banking sector dynamics. A chartered accountant with over 16 years of experience, Mittal has been associated with Canara Bank since May 2008, serving in diverse roles across branches and administrative functions.
Mittal’s appointment has been met with optimism by the market. Canara Bank’s stock surged by up to 3.26 per cent on 11th April 2025, closing at Rs 91.4 per share, reflecting investor confidence in the bank’s future. Another report noted a 2.33 per cent rise in the share price to Rs 90.54, underscoring strong market sentiment.
Canara Bank operates across several segments, including Treasury, Retail and Wholesale Banking, as well as Life Insurance and other financial services. Its retail banking arm, including digital banking, offers a comprehensive range of personal and corporate banking products.
In its recent financial performance, the bank reported a 12 per cent year-over-year increase in net profit for Quarter three (Q3), reaching Rs 4,104 crore. The Net Interest Income (NII) stood at Rs 9,149 crore, showing a slight dip compared to the previous year. On a consolidated basis, the bank’s net profit rose 11.2 per cent to Rs 4,214.16 crore, driven by a 5.1 per cent rise in total income to Rs 37,429.90 crore.
Amit Mittal’s appointment as GCFO is seen as a key milestone in Canara Bank’s leadership journey, equipping the institution with seasoned expertise in navigating complex financial landscapes. As the bank continues to expand and deliver robust results, Mittal’s role will be crucial in shaping strategic decisions and driving sustained growth.
