New CEO at SBI Mauritius: 25-Year Banking Veteran Takes Helm

Prashant Kumar Babhale took over as the new Managing Director and Chief Executive Officer (CEO) of SBI Mauritius Ltd on May 23, 2025, according to a statement released on June 4, 2025. Babhale is succeeding Somnath Adhya.

Babhale brings over 25 years of experience in the banking sector to SBI Mauritius Ltd.

Over the past two decades, he has held key positions within the State Bank of India group, both in India and internationally.

Before joining SBI Mauritius Ltd, he held various senior management positions in areas such as retail banking, project financing, international operations, and corporate credit.

Babhale’s career includes a stint at SBI Canada Bank in Vancouver, where he was responsible for the branch’s operations and compliance.

He has also played a key role in international trade financing, including export financing and risk management.

He is recognized for his expertise in anti-money laundering (AML), counter-terrorism financing (CFT), and Basel III regulatory framework.

Source: Defi Media