Now Loading

Dhanlaxmi Bank appoints Ajith Kumar K.K as MD & CEO

Dhanlaxmi Bank has appointed Ajith Kumar K.K as its Managing Director (MD) and Chief Executive Officer (CEO) for a term of three years, subject to approval from the Reserve Bank of India (RBI). With a distinguished banking career spanning over 36 years, Ajith Kumar K.K, previously associated with Federal Bank Limited, will now lead Dhanlaxmi Bank.

The appointment follows the RBI’s directive for the current MD & CEO, Shivan JK, to continue in the role until the new appointee assumes office. Shivan JK’s tenure was originally set to conclude on January 29, 2024.

This represents a significant shift for Dhanlaxmi Bank, which experienced instability following the departure of former CEO Sunil Gurbaxani in September 2020. After navigating a prolonged period without a chief executive, the bank appointed KN Madhusoodanan as part-time chairman in September 2023, following a vacancy of 21 months since the resignation of G Subramonia Iyer in December 2021.

The board of directors will soon convene to formalize Ajith Kumar K.K’s appointment, subject to shareholder approval as mandated by regulatory guidelines.

Ajith Kumar K.K’s extensive banking experience, encompassing credit, human resources, branch banking, and more, positions him well to steer Dhanlaxmi Bank through its forthcoming growth phase. Presently, the bank offers various personal banking services, including savings accounts, loans, credit cards, and digital banking solutions.