Money & Banking

Chairman, two directors of Dhanlaxmi Bank resign

Kochi | Updated on June 30, 2020 Published on June 30, 2020

Sajeev Krishnan, Part-time Chairman and independent director of Dhanlaxmi Bank, has resigned from the Board due to personal reasons, the bank said on Tuesday.

KN Murali, another independent director, and G Venkatnarayanan, additional director, also resigned from the Board with effect from June 29, citing personal reasons.

The bank made the disclosures in its filing to NSE on Monday and Tuesday. Officials sources in the bank said the resigned directors had expressed their inability to attend regular board meetings due to personal reasons.

Meanwhile, sources in the banking sector pointed out that all the three resigned officials have had an excellent track record in banking. They had retired from top positions in the State Bank group, and their contributions were invaluable for bringing Dhanlaxmi Bank back to track.

The Thrissur-based bank notched a record net profit of ₹65.78 crore for the financial year ended March 31, 2020, compared with a net profit of ₹11.67 crore in the previous fiscal. This is the highest net profit the bank has recorded since its inception in 1927.

Published on June 30, 2020
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