Karnataka Bank appoints Veteran Banker Srikrishnan Harihara Sarma as its New Managing Director & CEO

Leading south Indian private bank - Karnataka Bank, has announced the appointment of Mr. Srikrishnan Harihara Sarma as the new Managing Director & CEO of the Bank. The appointment is effective from the date of his assuming charge and will last for a period of three years. The appointment is subject to approval by shareholders at the ensuing Annual General Meeting or within a period of 3 months from the date of assuming charge, whichever is earlier, as per SEBI (LODR) Regulations, 2015. Karnataka Bank is confident that Mr. Srikrishnan' s expertise and leadership will drive the bank towards continued growth and success.

Mr. Srikrishnan brings with him nearly four decades of experience in Commercial, Retail & Transactional Banking, Teclu10logy and Payments. He has previously held key positions at HDFC Bank Limited, Yes Bank Limited and Jio Payments Bank Limited. At HDFC Bank Limited, he was part of the founding management team and was involved in setting up the bank's Corporate and Retail Banking, Treasury and Capital Markets Infrastructure business. At Yes Bank Limited, he was instrumental in setting up the Commercial Banking infrastructure. At Jio Payments Bank Limited, he served as MD & CEO and was responsible for the application and coordination for approval of license with the RBI.

Interim Managing Director, Mr. Sekhar Rao said, "We are happy to welcome Mr. Srikrishnan to Karnataka Bank. His wealth of experience and expertise will be invaluable in driving our continued growth and success. We look forward to working with him in delivering value to our customers and shareholders."

Mr. Srikrishnan said, "I am proud to join Karnataka Bank as Managing Director & CEO. With over a century of trust and goodwill built by the Bank, I look forward to working with all the stakeholders to further build and grow on that strong foundation."

Shares of The Karnataka Bank Limited was last trading in BSE at Rs. 147.05 as compared to the previous close of Rs. 143.90. The total number of shares traded during the day was 1034875 in over 9661 trades.

The stock hit an intraday high of Rs. 153.50 and intraday low of 144.50. The net turnover during the day was Rs. 154784584.00.

Source : Equity Bulls

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