Mangaluru, June 22: RBI has extended the term of office of Shri. P. Jayarama Bhat, MD & CEO of Karnataka Bank for a further period of three years from 14.07.2015, as proposed by the Bank’s Board of Directors.
The present extension of term is an important milestone in the history of the Bank as it will provide continuity to Shri Bhat’s leadership for the next three years, which will be helpful, particularly in carrying forward the ongoing reforms in the Bank, including “KBL VISION 2020”.
Shri. P. Jayarama Bhat assumed charge as MD & CEO of the Bank on 14.07.2009 and is currently in this position for the second term. With the present extension, he will be stepping into the third term as the Bank’s MD & CEO.
Shri Bhat was member of the Managing Committee of IBA and Chairman of Committee on Private Sector Banks, of IBA. He is presently member of IBA Committee on Retail Banking. He is also the Hon. President of the Bankers’ Club, Mangaluru.
Karnataka Bank has witnessed new highs in business under Sri Bhat’s stewardship. Total business of the Bank, has increased from Rs. 32,034 crores (as on 14.09.2009) to Rs. 75,901 crores (as on 19.06.2015). The total number of branches has grown from 449 to 682 and ATMs from 177 to 1033. The Capital Funds of the Bank touched Rs. 3389 crore as at the end of March 2015 from Rs. 1567 crore (as on 31.03.2009), with a Capital Adequacy Ratio of 12.41% (under Basel III). Further, Bank has earned an all time high net profit of Rs. 451.45 crores for the year ended 31.03.2015.
Besides recording substantial growth in the Bank’s overall business, his period has also witnessed digital empowerment of Bank’s customers, as Bank came out with several innovative technology based products and services such as mobile banking, e-lobby etc which have enhanced customer satisfaction and increased the ease and comfort of banking.
Under his leadership, the Bank has won several prestigious awards from reputed Institutions/organizations such as IBA, IDRBT, NPCI, FIEO, ASSOCHAM etc., for excellence in Risk Management and Security Initiative, Financial Inclusion Initiative, Customer Management, Managing IT Risk, Business Innovation, Excellence in ATM operations, Export Excellence, Social Banking etc.,
He has also won several individual awards such as “Outstanding Manager Award”, by Mangalore Management Association, “A Shama Rao Memorial Outstanding Achievement Award” by A. Shama Rao Foundation, “CEO with HR orientation” by Asia Pacific HRM Congress and “New Year Award 2015” instituted by Manipal University and Syndicate Bank.
The Bank is now in the process of documenting its “Vision 2020” under his stewardship.
Sri. P. Jayarama Bhat expressed his gratitude for the confidence reposed in him by the Board of Directors, RBI and all other stake holders of the Bank. He also thanked the Bank’s staff members and assured them to provide excellent governance to take the Bank to greater heights in the coming years.