Union Bank of India announced a change in its senior leadership, with Avinash Prabhu resigning as Chief Financial Officer effective January 31, 2026. As part of a planned management transition, the public sector lender appointed Dhirendra Jain as its new Chief Financial Officer with effect from February 1, 2026.
Dhirendra Jain, is a Chartered Accountant with over 28 years of experience in banking and financial management. Prior to his elevation, he served as General Manager – Finance and Accounts at Union Bank of India. His career spanned key leadership roles across large corporate credit, regional banking operations, and zonal management, giving him a broad perspective on both balance sheet management and operational execution.
Dhirendra is a postgraduate in Commerce and a Certified Associate of the Indian Institute of Bankers (CAIIB). His deep familiarity with the bank’s internal systems, regulatory environment, and financial controls was expected to ensure continuity as Union Bank navigated a challenging macro environment marked by credit growth pressures, asset quality monitoring, and regulatory compliance demands.
Confirming the appointment, the bank stated that the CFO transition was part of its normal leadership succession process. In a LinkedIn post after assuming charge, He expressed gratitude to the Board and senior leadership for the trust placed in him and said he looked forward to contributing to the bank’s financial strength, governance standards, and long-term value creation.
The appointment came at a time when public sector banks were increasingly focused on capital efficiency, risk-adjusted growth, and stronger financial governance, making the CFO role central to strategic decision-making.
From risk awareness perspective a smooth CFO transition from within the organisation reduced financial reporting, compliance, and execution risks during periods of balance sheet expansion. Institutional familiarity strengthened control over regulatory, capital adequacy, and governance risks in a tightly supervised banking environment.
