Karnataka Bank Limited has issued a regulatory disclosure reconfirming key corporate governance appointments in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The communication, dated January 06, 2026, was addressed to both the National Stock Exchange of India Limited and BSE Limited.

Key Appointments Reconfirmed

The bank has provided updated information regarding two critical corporate positions as mandated under Regulations 6(1) and 7(1) of SEBI LODR:

Regulatory Compliance Framework

The disclosure aligns with continuous disclosure norms under SEBI regulations, ensuring transparency in corporate governance structures. Karnataka Bank's communication to stock exchanges demonstrates adherence to mandatory reporting requirements for listed entities.

The bank operates from its registered and head office located at P.B. No.599, Mahaveera Circle, Kankanady, Mangaluru – 575 002, with CIN: L85110KA1924PLC001128. The disclosure was digitally signed by Company Secretary Sham K on January 06, 2026.

Stock Exchange Communication

The formal communication was sent to both major Indian stock exchanges where Karnataka Bank shares are listed:

• NSE: Scrip Code KTKBANK
• BSE: Scrip Code 532652

This reconfirmation ensures that all stakeholders, including investors and regulatory authorities, have current and accurate information regarding the bank's key corporate governance positions and service providers.

Karnataka Bank has completed the dispatch of its postal ballot notice seeking shareholder approval for the appointment of Mr. Raghavendra Srinivas Bhat as Managing Director and Chief Executive Officer. The bank notified stock exchanges on December 23, 2025, about the completion of the postal ballot dispatch process and published newspaper advertisements to inform shareholders about the e-voting procedure.

Postal Ballot Process and Timeline

The bank completed the dispatch of postal ballot notices on December 22, 2025, through email to all eligible shareholders. The voting will be conducted exclusively through remote e-voting via NSDL, with no physical postal ballot forms being distributed to shareholders.

Advertisement and Communication

The bank published newspaper advertisements on December 23, 2025, in the Financial Express (English) and Vijaya Karnataka (Kannada) to inform shareholders about the e-voting process. The postal ballot notice has been made available on the bank's website and stock exchange platforms for easy access by shareholders.

Appointment and Compensation Structure

Mr. Raghavendra Srinivas Bhat's appointment as MD-CEO is proposed for a one-year term effective from November 16, 2025, following RBI approval. The comprehensive compensation package includes both fixed and variable components structured according to banking regulations.

Fixed Pay Components

Variable Pay Structure

Professional Background and Qualifications

Mr. Bhat brings 38 years of extensive banking experience to the role, having joined Karnataka Bank as a Clerk in 1981. He progressively rose through the ranks to serve as Chief Operating Officer in the CGM cadre in 2019. His expertise spans banking operations, treasury management, digital banking, risk management, and rural economy initiatives.

He has been serving as interim MD-CEO since July 16, 2025, following RBI approvals for temporary appointments. His educational qualifications include B.Com and CAIIB certifications, providing him with strong foundational knowledge in banking and finance.

Regulatory Compliance and Scrutinizer Details

The appointment has received RBI approval under Section 35B of the Banking Regulation Act, 1949. The postal ballot process complies with Companies Act 2013 provisions and SEBI listing regulations. The bank has appointed CS. Ullas Kumar Melinamogaru (Membership Number: F6202, COP Number: 6640) as the primary scrutinizer, with CS. Namrath Kottary as the alternate scrutinizer for the e-voting process.

Eligible shareholders whose email addresses are registered with depositories or the bank have received the postal ballot notice electronically. The resolution, if passed, will be deemed effective from the last date of voting, January 22, 2026.