Mangalore, June 23: The RBI has consented the proposal of the Karnataka Bank administrative board requesting to continue P Jayaram Bhat, managing director and chief executive officer of the bank for three more years from July 14th-2015.
This tenure extension of Bhat will help to continue with the newly adopted systems in the bank including ‘KBL vision 2020’. In this account, this is a significant milestone in the Bank’s history.
P Jayaram Bhat, took charge as the managing director and chief executive officer of the bank on July 14th, 2009, has be re-appointed again for the same post. He was the member of the IBA administrative board and also the chairman of private banks committee.
The bank said that during the tenure of Jayaram Bhat, who took charge as managing director on July 14th, 2009, the bank has achieved all-round progress. During these six years, total turnover of the bank has touched Rs 75,901 crore from Rs 32,000 crore, it said. During this period, the number of branches increased from 449 to 682, while ATMs, which were 177, have raised to 1,033.The banks investment funds have raised to 3, 389 (31-3-2015) crores from 1,567 crores (31/3/2009).During the year end of March 31st-2015, the net profit earned is Rs 451.45 crores as per the bank’s records. During the tenure of Jayaram Bhat, the bank has received a number of prestigious awards.
P Jayaram Bhat has thanked the Bank’s Management Board, RBI and the bank’s share holders.