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Our Bureau

MR N.R. ACHAN

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Kochi March 1 The Chairman of Catholic Syrian Bank, Mr N.R. Achan, has resigned from the bank. The Director Board that met at Thrissur on Wednesday accepted his resignation.

Mr Achan's tenure as Chairman was to end in June. Poor health was cited as the reason for the resignation.

Mr Achan told Business Line that he had been keeping poor health in the recent past and that he had been advised rest. He said that the bank would be able to generate higher profits this year and report substantially lower NPAs.

The unlisted shares of the bank that were quoting around Rs 25-30 when he took over, is currently quoting around Rs 120-130 in informal transactions.

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