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Last Updated : Jul 21, 2020 11:41 AM IST | Source: PTI

Karur Vysya Bank appoints Ramesh Babu Boddu as MD & CEO

Boddu's three-year tenure is effective from the date of taking charge, on the terms and conditions approved by Reserve Bank of India, the filing said.

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Karur Vysya Bank on Tuesday announced that it has appointed Ramesh Babu Boddu as Managing Director and Chief Executive Officer.

In a regulatory filing Karur Vysya Bank said its board of directors in a meeting held on July 20, have co-opted Ramesh Babu Boddu as an additional director and appointed him as the MD and CEO of the bank for a period of three years.

Boddu's three-year tenure is effective from the date of taking charge, on the terms and conditions approved by Reserve Bank of India, the filing said.

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In January this year, Karur Vysya Bank had said that Managing Director and CEO P R Seshadri has resigned citing personal reasons.

In June, the bank had reported a 39.5 percent jump in net profit at Rs 83.70 crore for the quarter ended March 2020 on higher income from other sources. It had posted a net profit of Rs 60.02 crore during the corresponding period of 2018-19.

Income during the quarter under review rose to Rs 1,803.15 crore from Rs 1,746.04 crore in last quarter of 2018-19.

Shares of Karur Vysya Bank were trading at Rs 31.70 apiece on the BSE, up 0.79 percent over its previous close.
First Published on Jul 21, 2020 11:35 am
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