“As required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements Regulations, 2015), we wish to inform you that the approval from Reserve Bank of India has been received on July 16, 2020, for the reappointment of Mr. Shyam Srinivasan as the MD & CEO of the Bank, w.e.f. September 23, 2020 (the completion of the present term of office) till September 22, 2021, along with remuneration as proposed by the Bank.” the bank mentioned in a corporate filing.
In its Q1 result announced on July 15, the bank reported a 4% growth in net profit as Rs 401 crore as against Rs 384 crore in the same period last year and 33% on a quarter-to-quarter basis.
The Kerala-based bank announced, as of the June 2020 quarter, the bank’s net interest income increased by 12.3% year-on-year to Rs 12,920 crore, compared to Rs 1,154 crore in the same period last year. In the first quarter of 2020 other income increased by 24.7% year-on-year to Rs 488.37 crore, compared with Rs 39.152 crore in the first quarter of 2019.
