A warm sendoff was given to Sadanand K. Nayak Chief Executive Officer of Maharashtra based GP Parsik Sahakari Bank on his retirement by the board members of the bank including Ranjit Gopinath Patil, Chairman.
Nayak is credited with almost doubling the UCB’s business in his tenure. He had joined the bank as CEO in March 2013 when the bank had a business mix of about 2,800 crore and a network of 40 branches in Maharashtra. At the time of his retirement, the bank has a business mix of about 5,700 crore and a network of 85 branches in three states including Maharashtra, Goa and Karnataka. The bank experienced many changes during his tenure.
Many of Nayak’s colleagues and friends said he is an honest man with a vast knowledge of the banking sector. Nayak had also played an important role in getting the bank a Multi-state tag.
He also worked with the fourth largest Urban Cooperative Bank of India Abhyudaya Urban Cooperative Bank for more than 30 years as Deputy General Manager and later as General Manager.
Sources said, the process of appointing a replacement for Nayak is already underway.
