Indian Overseas Bank (IOB) has announced the appointment of Madhaw Chandra Jha as its Chief Financial Officer (CFO), effective March 1, 2025. The decision was approved by the bank’s board following the superannuation of S P Mahesh Kumar, the current General Manager & CFO, on February 28, 2025.
Madhaw Chandra Jha, a qualified Chartered Accountant, has been associated with Indian Overseas Bank for 19 years, handling key financial operations. His expertise includes financial statement preparation, liaising with statutory auditors, regulatory compliance, and specialized areas such as IndAS. He has also undergone management development programs at premier institutes like ISB, RBI, CAB, and ASCI.
Indian Overseas Bank, engaged in banking and financial services, recently reported a 20.91% increase in net profit to ₹873.66 crore in Q3 FY25, with a 13.07% rise in total income to ₹8,409.3 crore, compared to Q3 FY24.
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With Jha stepping into the role, IOB aims to continue strengthening its financial performance and regulatory compliance.
