Ajit E. Venugopalan takes charge as new MD of SVC Bank

September 29th, Mumbai: SVC Bank (SVC Co-operative Bank Ltd.), formally known as The Shamrao Vithal Co-op. Bank Ltd, and one of India’s top three urban co-operative banks - announced the appointment of Mr. Ajit E. Venugopalan as its new managing director (MD).

Mr. Ajit E. Venugopalan, B.Com, Chartered Accountant, takes over themantle of leading the 111-year-old institution succeeding Mr. Suhas N Sahakari.The new MD is a veteran member of the SVC Bank family having rendered 28 yearsof loyal and committed service to the Bank. He joined SVC Bank in 1989 as anOfficer and has risen through the ranks by working in various branches anddepartments.

Prior to taking up the new role, Mr. Venugopalan served as Head –Corporate Banking.  

Commenting on the development, Chairman Mr. Udaykumar P. GurkarSVCBank said“I am pleased to announce that the SVC Bank Board ofDirectors has selected Mr. Ajit E. Venugopalan for the position of ManagingDirector of the Bank. Mr. Venugopalan has taken charge from October 1. He hasbeen instrumental in scaling up the business of the bank. Mr. Venugopalan isvery well versed with the changing dynamics of banking and we are positive thathe can carry forward the legacy of our Bank.”

Mr. Ajit E. Venugopalan underlinedSVC Bank’s vision and promised to take it to the next level of excellence. Hesaid, “I would like to thank the honourable Board of directors for theconfidence that they have reposed in me. I am committed to working with theteam at SVC Bank and with all our stakeholders to leverage the Bank’s strengthsand capitalise on the opportunities before us. I have been associated with thisBank for almost three decades and I will continue to work to the best of myabilities. I owe my banking experience to this institution and my dream is tosee the Bank reach its zenith.”

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