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New Delhi : Vijayalakshmi Iyer has taken charge as Chairperson and Managing Director of Bank of India (BoI). Prior to this, she was executive director (ED) of Central Bank of India. She has taken over as Chairperson and Managing Director of the bank with effect from November 5, 2012, Bank of India said in a filing on the BSE today. She replaces Alok K Misra who retired as CMD on September 30, 2012.
Iyer who joined the banking sector in 1975 with Union Bank of India was promoted to the of Central Bank of India in 2010. As an ED she was in charge of various portfolios, including treasury, information technology and international division. Last week, the bank had reported a 38.5% dip in profit to Rs 302 crore in the second quarter as provisions for bad loans jumped.