Informative

Dhanlaxmi Bank rises on appointing Ajith Kumar K. K as MD & CEO

Update / Judgement Date

17 Jun 2024

Source

Business Standard

Author

Team — WCP Legal Desk

Reading Time

1 min read

Banking

Dhanlaxmi Bank's shares rose 1.65% to Rs 43.10 after the board approved Ajith Kumar K.K as MD & CEO for three years starting 20 June 2024. Kumar, a seasoned banker with 36 years at Federal Bank, will also be a whole-time KMP, MRT, and principal officer. Shareholder approval will be sought. Kumar holds an agriculture degree from KAU and an MBA from CUSAT. \r

Currently, he is the Chief HR Officer at Federal Bank. Dhanlaxmi Bank offers various personal banking services. The bank's Q4 FY24 net profit dropped to Rs 3.31 crore from Rs 38.17 crore in Q4 FY23, with total income rising 11.5% YoY to Rs 347.30 crore.

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Dhanlaxmi Bank rises on appointing Ajith Kumar K. K as MD & CEO

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