Central government has announced the appointment of K Satyanarayana Raju as Managing Director and CEO of Canara Bank. His appointment is effective from February 7. Earlier, Raju served Canara Bank as executive director from March 2021.

He replaced L V Prabhakar who demitted office on December 31, 2022.

With more than 33 years of banking experience, Raju started his career with the erstwhile Vijaya Bank in 1988 and has risen to the level of chief general manager in the Bank of Baroda.

He has experience in heading various branches for 12 years including a specialised corporate banking branch. He was the regional head of Shimoga, Vijayawada, Hyderabad and Mumbai. Raju also led the Mumbai zone as the zonal head.

He has a very rich and vast experience in all segments of banking including branch banking, corporate credit, retail credit, agri financing, credit monitoring, credit recovery, compliance etc. Also, his rich experience and exposure led to digital transformation of banking products and services.

Raju is a Physics graduate and postgraduate in Business Administration (Banking and Finance) and CAIIB.