Former Karnataka Bank Chairman, Ananthakrishna passes away

Former Karnataka Bank Chairman, Ananthakrishna passes away

Mangalore Today News Network

Mangaluru, Oct 11, 2020: Ananthakrishna, former Chairman and CEO of Karnataka Bank Ltd. passed away following brief illness on Sunday October 11. He was 74. He is survived by his wife Renuka and son Avinash. His mortal remains will be kept at his residence in Deepa Archade, Bejai, Mangalore for paying last respects till 2.30 p.m., followed by cremation at Boloor Crematorium.

 

He was the ninth chairman of the Bank and had a long and fruitful association of 45 years with the Bank under different capacities. He joined the services of the Bank in 1971 and rose through the ranks of the Bank before rising to the post of Chairman of the Bank.

Born on 27-10-1946 at Talemogaru Village of Bantwal Taluk, Karnataka State, to Late Mr & Mrs T. Narayana Rao, Shri Ananthakrishna completed his Post Graduation in Mathematics from Mysore University. He began his career as a teacher at Deepika High School, Modankaup and as lecturer at Manipal Engineering College (later renamed as Manipal Institute of Technology). He then worked as a programmer for H.A.L before beginning his illustrious career at Karnataka Bank in the year 1971.

He had vast experience of having assumed various key positions in the Bank’s administrative set up such as Chief Accountant, Asst. General Manager (Advances) and Deputy General Manager (Advances and Accounts). He was promoted as General Manager of the Bank in October 1994 and in April 1998, he was elevated as Chief General Manager. Shri Ananthakrishna assumed charge as Chairman and Chief Executive Officer of the Bank on 13-07-2000, the post which he held up to 12-07-2009.

Karnataka Bank progressed well under his leadership in all aspects of banking activities.The Bank’s turnover increased to Rs 32,685.18 Crores from Rs 7,165.22 Crores during his tenure of 9 years. Net profit also jumped to Rs 266.70 Crores from Rs 40.71 Crores. Shri Ananthakrishna was also instrumental in on boarding Karnataka Bank to the elite group of fore-runners in Core Banking Solution (CBS) platform amongst the private sector banks way back in the year 2000. Under his leadership, Bank took a significant leap in adopting and promoting technology backed products including ATMs, Debit Cards and Internet Banking. He served the Bank as Chairman and CEO of the Bank for a period of nine years and subsequently got appointed as Non Executive Chairman of the Bank on 13-07-2009 and retired from the said post on 26-10-2016 on attaining 70 years of age.

Paying tributes to the departed soul on behalf of the entire Karnataka Bank family,    Mr. Mahabaleshwara M.S, MD & CEO of the Bank said, “The untiring efforts and yeomen leadership of Shri Ananthakrishna has catapulted the Bank to a new pinnacle of growth in the history of the Bank. His long four and half decades of service to this institution is truly remarkable. He was a guiding force to us all along. The entire Karnataka Bank Family is mourning the loss of this great personality today and we are praying for eternal peace to the departed soul. My heartfelt condolences to his family members and dear ones.”

Speaking at the sad demise of Shri Ananthakrishna, Mr Jayarama Bhat P, Chairman of the Bank said, “Bank has lost a great leader, mentor and well wisher who always lived Karnataka Bank as his first priority.”