Tamilnad Mercantile Bank has announced the appointment of Shri Vincent Menachery Devassy as its Whole Time Director (Executive Director) for a term of three years. The Reserve Bank of India (RBI) approved the appointment on 19th September, 2024, under Section 35B of the Banking Regulation Act, 1949. The appointment is subject to approval by the bank’s shareholders.
With a career spanning over 39 years in commercial banking, Shri Devassy brings experience to his new role. He began his banking journey with the State Bank of India in 1984, and has since held numerous leadership positions, including Chief General Manager for the North East Circle and General Manager for the Amaravati and Bangalore Circles. His expertise also extends to Wealth Management, Banking Technology and International Banking.
Tamilnad Mercantile Bank has confirmed that Shri Devassy is not related to any of its current Directors or Key Managerial Personnel, and he is not barred from holding a directorial position by any regulatory authority.
