Pursuant to the approval received from the Reserve Bank of India (RBI), Board of Directors of Karnataka Bank reappointed Mahabaleshwara M S as managing director and chief executive officer (CEO) of the bank, for a further period of three years, with effect from April 15.
P Jayarama Bhat was reappointed as part-time (non-executive) chairman up to November 13, 2021.
On being re-appointed as MD and CEO Mahabaleshwara said, “I consider it as an honour to be retained as MD and CEO of this great institution for a period of 3 years. It is also a welcome coincidence that my mentor and present chairman of Karnataka Bank, P Jayarama Bhat is re-appointed as chairman for another period of 18 months."
Mahabaleshwara said he was aware that the entire world is facing an unprecedented new set of challenges in the form of Covid-19 and the threat of economic recession.
"But, I am confident that Karnataka Bank is now better prepared to face these challenges head on, as we have grown bigger and stronger due to many initiatives,” he added.