Karnataka Bank appoints Raghavendra S Bhat as interim MD, CEO

New Delhi, Jul 14 (PTI) Private sector lender Karnataka Bank on Monday said it has appointed Raghavendra Srinivas Bhat as its interim managing director (MD) and CEO for three months.

The appointment is effective from July 16, 2025 for a period of three months or till the appointment of a regular MD and CEO whichever is earlier, Karnataka Bank said in a stock exchange filing.

This comes after Srikrishnan Hari Hara Sarma resigned as MD and CEO on June 29 citing personal reasons including his decision to relocate to Mumbai. Besides, executive director Sekhar Rao had quit citing his inability to relocate to Mangaluru and other personal reasons.

Bhat, who took charge as the Chief Operating Officer (COO) of the bank on July 2, 2025, has resigned from the post. He started his career at the bank as a clerk in 1981.

Karnataka Bank is confident that Bhat's expertise and leadership will drive the bank towards continued growth and success. "I am proud to join Karnataka Bank as Managing Director & CEO. With over a century of trust and goodwill built by the bank, I look forward to working with all the stakeholders to further build and grow on that strong foundation," Bhat said.

The appointment is subject to approval of shareholders at the ensuing Annual General Meeting, the bank said. PTI SP SP ANU ANU