Central Bank of India has announced a key senior management change with the appointment of Mrs. Kavita Thakur as Chief Compliance Officer (CCO), effective December 20, 2025. The appointment was communicated to stock exchanges under Regulation 30 and 51 of SEBI (LODR) Regulations, 2015.

Leadership Transition Details

Mrs. Thakur has been appointed as General Manager, Compliance Department and Chief Compliance Officer, taking over from Mr. Joy Mukherjee. The change represents a significant transition in the bank's compliance leadership structure.

Professional Background and Qualifications

Mrs. Kavita Thakur, aged 55, brings extensive banking expertise to her new role. She joined the bank in 1990 and has accumulated over 35 years of comprehensive banking experience across various functions and leadership positions.

Her educational qualifications include:

• Master's degree in Arts (Economics)
• Master's in Business Administration (Banking and Finance)
• Certified Associate of Indian Institute of Banking and Finance (IIBF)
• Certificate Course on Resolution of Stressed Assets with Special Emphasis on Insolvency and Bankruptcy Code, 2016 for Bankers

Previous Role and Experience

Prior to this appointment, Mrs. Thakur served as Zonal Head at the Ahmedabad Zonal Office, where she demonstrated strong leadership capabilities in regional banking operations. Her extensive tenure with Central Bank of India since 1990 has provided her with deep institutional knowledge and operational expertise across multiple banking domains.

Regulatory Compliance

The appointment has been made in accordance with SEBI regulations, with the bank fulfilling all disclosure requirements under Regulation 30(6) of Listing Regulations. The information has also been made available on the bank's official website at https://www.centralbankofindia.co.in/en/investor-relations for stakeholder access.

This leadership change reflects the bank's commitment to maintaining strong compliance standards and regulatory adherence through experienced banking professionals in key managerial positions.

Central Bank of India has received a credit rating reaffirmation from CARE Ratings Limited for its Certificate of Deposits programme worth ₹10,000 crore. The rating agency maintained the CARE A1+ rating, citing improved capitalisation levels and continued government support as key factors.

Rating Reaffirmation Details

The reaffirmation covers the bank's Certificate of Deposits programme with the following specifications:

Key Rating Drivers

The rating reaffirmation draws strength from several positive developments in the bank's financial profile. CARE Ratings expects continuation of strong funding support by the government when needed by the bank, given the majority ownership and demonstrated support in terms of funding, management and governance.

Financial Performance and Capitalisation

The bank's capitalisation profile has improved significantly over the years, aided by regular equity infusion and improvement in asset quality.

Business Profile and Asset Quality

Central Bank of India has established a pan-India business franchise. The bank has been focusing on retail, agriculture and MSME segments, which have constituted a significant portion of total advances.

Profitability and Outlook

The bank has reported improved profitability in recent years. However, CARE Ratings expects the bank's net interest margin to potentially face some pressure, considering faster repricing of advances than deposits in the year post rate cuts. The rating agency notes that the bank would be required to keep its operational and credit costs under control to maintain profitability in the near term.

Risk Factors and Rating Sensitivities

The rating agency has identified potential negative factors that could lead to rating downgrades, including:

• Reduction in government support and ownership below 51.00%
• Deterioration in asset quality with gross non-performing assets of 5.00% or more on a sustained basis
• Deterioration in capitalisation levels with cushion above minimum regulatory requirement remaining lower than 100 basis points on a sustained basis