Mangaluru, Apr 14: The board of directors of city-based Karnataka Bank has re-appointed P Jayarama Bhat as part-time chairman (non-executive) and MS Mahabaleshwara as CEO and managing director of the bank with the approval of the Reserve Bank of India. Bhat’s term has been extended to November 13, 2021, while Mahabaleshwara’s by three years from April 15, a bank statement said here on Tuesday.
Mahabaleshwara was quoted as saying the bank was prepared to take up challenges in the form of another global economic recession with the COVID-19 outbreak. The bank has grown bigger and stronger with various transformation initiatives, he said. The bank is determined to achieve heights in corporate governance and business standards by focusing on value- creation for all the stakeholders, he said. (UNI)