Dhanlaxmi Bank has re-appointed Rajan Sleeba as Head – Human Resources for a tenure of two years, effective August 11, 2026. The Board of Directors approved the contract-based appointment during its meeting held on July 29, 2026, which commenced at 12.00 noon and concluded at 3.30 p.m. This leadership continuity ensures stability in the bank’s human resource management framework.

The appointment aligns with regulatory disclosure requirements under SEBI Master Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The bank submitted the requisite details to the Bombay Stock Exchange (BSE) and the National Stock Exchange of India Limited (NSE) on July 29, 2026. Venkatesh H, Company Secretary & Secretary to the Board, signed the communication to the exchanges.

Leadership Profile

Rajan Sleeba possesses over 40 years of experience in the banking industry, having served in various capacities including Credit, Branch Banking, and Human Resources. Of this extensive career, 21 years have been spent with Dhanlaxmi Bank. He previously held the position of Regional Head for different regions within the bank before assuming his current role as Head – Human Resources.

Sleeba holds a Master of Laws (LLM) degree and has passed the Certificate in Advanced Indian Institute of Banking and Finance (CAIIB). His background combines legal expertise with deep operational knowledge of banking functions, supporting the bank’s strategic HR initiatives.

Appointment Details

The re-appointment reflects the Board’s confidence in Sleeba’s ability to manage the bank’s human capital resources effectively. The decision was made without any reported dissent or additional conditions in the filing.

Dhanlaxmi Bank reported a net profit of ₹249.1 crore for the quarter ended June 30, 2026 (Q1FY27), marking a 105% year-on-year increase from ₹121.8 crore in the corresponding period last year. The surge in profitability was primarily driven by an 19% rise in total income to ₹4,842.5 crore and a sharp decline in provisions and contingencies, which fell to ₹159.1 crore from ₹347.1 crore in the previous quarter. This improvement underscores a strengthening balance sheet as asset quality metrics continued to show sequential gains.

The Board of Directors approved the unaudited financial results at its meeting held on July 29, 2026. The results were subjected to a limited review by the Joint Statutory Central Auditors, M/s Sagar & Associates and M/s Abraham & Jose, who issued an unmodified report. The filing complies with Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance Highlights

Total income for the quarter rose to ₹4,842.5 crore from ₹4,070.6 crore in Q1FY26, supported by higher interest earnings and stable other income. Interest earned increased to ₹4,493.6 crore from ₹3,677.6 crore YoY, while other income stood at ₹348.9 crore. Operating expenses rose to ₹1,610.6 crore from ₹1,451.2 crore, largely due to increased employee costs. Consequently, operating profit before provisions grew to ₹514.5 crore from ₹332.8 crore.

Asset Quality and Capital Position

Dhanlaxmi Bank’s asset quality improved sequentially, with the Gross Non-Performing Assets (GNPA) ratio declining to 1.82% from 1.89% in March 2026. The Net NPA ratio eased to 0.47% from 0.51%. The provision coverage ratio stood at 92.77%. The Capital Adequacy Ratio (CAR) under Basel III norms improved to 19.19% from 18.92% in the previous quarter, reflecting a robust capital base.

Segment Performance

Retail Banking remained the largest contributor to segment revenue at ₹2,967.0 crore, followed by Corporate/Wholesale Banking at ₹1,087.1 crore and Treasury at ₹757.5 crore. Retail Banking also delivered the highest segment result at ₹218.0 crore, while Corporate/Wholesale Banking contributed ₹17.5 crore. The bank noted that digital banking products continue to form part of the Retail Banking segment as no separate Digital Banking Unit has been established.

What the Numbers Show

The doubling of net profit despite a modest rise in operating expenses highlights the impact of reduced credit stress. The decline in provisions by nearly ₹188 crore quarter-on-quarter was the key driver, allowing more operating profit to flow through to the bottom line. Additionally, the transfer of ₹306.8 crore from the Investment Fluctuation Reserve to the Profit & Loss Account, following new RBI directions, further bolstered reserves, although this is a balance sheet reclassification rather than operational income.