HomeBusiness NewsFinance NewsFederal Bank likely submits three names for CEO role, including former Kotak Bank deputy KVS Manian
Federal Bank likely submits three names for CEO role, including former Kotak Bank deputy KVS Manian
Shyam Srinivasan, who has been serving as the CEO of Federal Bank, is scheduled to complete his term in September 2024.
Private sector lender Federal Bank has likely submitted three names to the Reserve Bank of India (RBI) for the position of Managing Director and Chief Executive Officer (MD & CEO), sources informed CNBC-TV18.
Sources close to the matter indicate a mix of internal and external contenders.
Among the potential external candidates is KVS Manian, a former Deputy Managing Director at Kotak Mahindra Bank.
The potential internal candidates are Shalini Warrier and Harsh Dugar.
Both currently are serving as Executive Directors of the bank.
This development follows earlier report by CNBC-TV18 in February that suggested KVS Manian's involvement in the race for Federal Bank's
As of now, Federal Bank has not issued an official statement regarding these developments.
Last month, Shyam Srinivasan, the current Managing Director (MD) and Chief Executive Officer (CEO) of Federal Bank, said that the lender's board has set up a search panel for evaluating candidates for the position of Managing Director and CEO.
However, when questioned about specific names forwarded to the Reserve Bank of India (RBI) for consideration, Srinivasan declined to comment.
Shyam Srinivasan, who has been serving as the CEO of Federal Bank, is scheduled to complete his term in September 2024.
In a separate development, the bank witnessed a 15% rise in its Net Interest Income (NII) in fourth quarter of FY24. The same was reported at ₹2,195.1 crore in Q4 compared to ₹1,909.3 crore in the same period of the previous financial year.
Federal Bank's slippages reached 13-quarter low, alongside an improvement in Net Interest Margin (NIM) exceeding expectations.
Sources close to the matter indicate a mix of internal and external contenders.
Among the potential external candidates is KVS Manian, a former Deputy Managing Director at Kotak Mahindra Bank.
The potential internal candidates are Shalini Warrier and Harsh Dugar.
Both currently are serving as Executive Directors of the bank.
This development follows earlier report by CNBC-TV18 in February that suggested KVS Manian's involvement in the race for Federal Bank's
top leadership role.
As of now, Federal Bank has not issued an official statement regarding these developments.
Last month, Shyam Srinivasan, the current Managing Director (MD) and Chief Executive Officer (CEO) of Federal Bank, said that the lender's board has set up a search panel for evaluating candidates for the position of Managing Director and CEO.
However, when questioned about specific names forwarded to the Reserve Bank of India (RBI) for consideration, Srinivasan declined to comment.
Shyam Srinivasan, who has been serving as the CEO of Federal Bank, is scheduled to complete his term in September 2024.
In a separate development, the bank witnessed a 15% rise in its Net Interest Income (NII) in fourth quarter of FY24. The same was reported at ₹2,195.1 crore in Q4 compared to ₹1,909.3 crore in the same period of the previous financial year.
Federal Bank's slippages reached 13-quarter low, alongside an improvement in Net Interest Margin (NIM) exceeding expectations.
(Edited by : Anshul)
First Published: Jun 12, 2024 12:42 PM IST
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