India’s biggest public sector lender the State Bank of India (SBI), Managing director (MD) Anshula Kant has been appointed as the MD and Chief Financial Officer of World Bank , its president David Malpass announced.
“I am very pleased to appoint Anshula Kant as World Bank Group Managing Director and CFO. Anshula brings more than 35 years of expertise in finance, banking, and innovative use of technology through her work as CFO of the State Bank of India,” Malpass said.
“She’s excelled at a diverse array of leadership challenges including risk, treasury, funding, regulatory compliance and operations. I look forward to welcoming her to our management team as we work to increase our effectiveness in supporting good development outcomes,” he said.
Kant, as the MD and CFO, will be responsible for all the financial and risk management of the World Bank Group, and will report to the President. Her work will also include oversight of financial reporting, risk management, and working closely with the World Bank CEO on mobilisation of International Development Association (IDA) and other financial resources.
As CFO of the SBI, Kant managed USD 38 billion of revenues and total assets of USD 500 billion. Stewarding the organization, she greatly improved the capital base and focused on the long-term sustainability of SBI within her mandate. She has been a Managing Director and member of the Board since September 2018, the World Bank said.
With direct responsibility for the SBI’s Risk, Compliance, and Stressed Asset Portfolio, Kant led the creation of investment opportunities while empowering risk management throughout the bank. She held several positions across the organization and helped navigate a diverse array of leadership challenges, the bank said in a statement.
Born on September 7, 1960, Kant joined SBI as a Probationary Officer (PO) in 1983. She has worked under various departments of the bank. As the Managing Director of SBI, she handles stressed assets, risk and compliance functions of the bank. She was appointed as a Deputy Managing Director and CFO of SBI in May 2015. In a career spanning three and a half decades, she has gained rich experience in retail banking, corporate credit, cross-border trade and banking in developed markets – both retail and wholesale.
Kant is a graduate in Economic Honours from Lady Shri Ram College for Women and a Post-Graduate in Economics from Delhi School of Economics. Kant is also a Certified Associate of the Indian Institute of Bankers.
She has held several key assignments in SBI including Chief General Manager (CGM) of Mumbai Circle and CEO at SBI Singapore, there she was responsible for launching the retail operations; making SBI the first Indian bank to do so in that geography.
Anshula Kant has been part of the several Elets Technomedia BFSI summits; watch her insightful views on Revolutionising Indian BFSI Sector: Reaching to the Citizen at the Last Mile at BFSI Leadership Summit 2015
Know more about the event here: https://tinyurl.com/y2zn7pjr
Watch l Anshula Kant, addressing an Inaugural session at Elets Financial Inclusion & Payments Systems (FIPS) Summit 2014, in New Delhi
Know more about the event here: https://tinyurl.com/y63aanmf
