Anshula Kant, the managing director of the State Bank Of India, has been appointed as Managing Director (MD) and Chief Financial Officer (CFO) of the World Bank, its President David Malpass announced on Friday.
Kant has a history of education and profession spanning across notable institutions. Talking about her educational qualifications, she graduated with Economics honours from Lady Shriram College for Women in New Delhi and did her post-graduation from the Delhi School of Economics, majoring in Economics.
She has a notable track record. Kant joined the State Bank of India (SBI) as a Probationary Officer in 1983. She was responsible for a number of projects over three and a half decades in the banking sector and has gained a significant amount of experience in Retail Banking, Corporate Credit, Cross-Border Trade and Banking in Developed Markets – both retail and wholesale. She also worked as a Deputy Managing Director and Chief Operating Officer in the National Banking Group.
Kant also served as Chief General Manager of the Mumbai Circle of the bank, covering the states of Maharashtra & Goa. Her additional profiles include General Manager, Performance Planning & Review at the Corporate Centre in Mumbai, Chief Executive Officer at Singapore; Assistant General Manager of Special Commercial Branch in Varanasi, and lastly, Chief Manager, Credit Appraisal Cell, Lucknow.
During her time in Singapore, she was also responsible for launching retail operations for the bank in Singapore, being the first Indian bank to do so in that geography.
In her new charge, as Managing Director and Chief Financial Officer, Kant will be responsible for financial and risk management of the World Bank Group, reporting to the President.
Among other key management duties, her work will include oversight of financial reporting, risk management, and working closely with the World Bank CEO on the mobilization of IDA and other financial resources. As CFO of the SBI, Kant managed USD 38 billion of revenues and total assets of USD 500 billion. Stewarding the organization, she greatly improved the capital base and focused on the long-term sustainability of SBI within her mandate. She has been a Managing Director and member of the Board since September 2018, the World Bank said. With direct responsibility for the SBI's Risk, Compliance, and Stressed Asset Portfolio, Kant led the creation of investment opportunities while empowering risk management throughout the bank. She held several positions across the organization and helped navigate a diverse array of leadership challenges, the bank said in a statement.