Karnataka Bank , a prominent player in India's banking sector, held its 101st Annual General Meeting (AGM) on September 23, 2025, marking significant changes in its leadership and governance structure. The AGM, conducted through video conferencing, saw shareholders approving several key appointments and resolutions.

New Leadership at the Helm

One of the most notable outcomes of the AGM was the appointment of Raghavendra Srinivas Bhat as the Managing Director and CEO of Karnataka Bank. Shareholders approved Bhat's appointment for a period of three months starting July 16, 2025, or until a regular MD & CEO is appointed, whichever is earlier. Bhat brings a wealth of experience to the role, having served the bank for 38 years in various capacities, including as Chief Operating Officer before his retirement in 2019.

Board Reappointments

The AGM also saw the reappointment of two key board members:

1. B R Ashok was re-appointed as a Non-Executive Director. Ashok, a chartered accountant with over 40 years of experience, will continue to serve on the board until August 26, 2027.

2. Uma Shankar, a former Executive Director of the Reserve Bank of India, was re-appointed as a Non-Executive Independent Director for a three-year term starting November 1, 2025.

Other Key Resolutions

Shareholders approved several other important resolutions during the AGM:

• The appointment of M/s. Ravi Rajan & Co. LLP, Chartered Accountants, New Delhi, and M/s. R.G.N. Price & Co., Chartered Accountants, Chennai, as joint Statutory Auditors of the Bank.
• The appointment of M/s. SVJS & Associates as Secretarial Auditors of the Bank for a period of five consecutive years.
• Amendments to the Articles of Association of the Bank.
• Declaration of a final dividend on equity shares for the Financial Year ended March 31, 2025.

Voting Results

The e-voting results revealed strong shareholder support for most resolutions. Notably, the appointment of Raghavendra Srinivas Bhat as MD & CEO received 89.89% votes in favor, while Uma Shankar's re-appointment as an Independent Director garnered 89.14% approval.

Compliance and Transparency

Karnataka Bank emphasized its commitment to compliance and transparency, noting that all appointed directors have been confirmed as not debarred from holding office by SEBI or any other authority.

The 101st AGM of Karnataka Bank marks a significant milestone in the bank's journey, setting the stage for its future growth and governance under new leadership.

Karnataka Bank , a prominent player in India's banking sector, has announced a significant change in its top management. Vijayakumar P H, a veteran banker with over 25 years of experience within the organization, has been appointed as the new Chief Financial Officer (CFO) effective September 15, 2025.

Leadership Transition

The appointment comes as part of a planned succession, with Vijayakumar P H set to replace the outgoing CFO, Abhishek Sankar Bagchi, whose tenure concludes on September 14, 2025. This transition marks a new chapter in Karnataka Bank's financial leadership.

Vijayakumar P H: A Career Progression

Vijayakumar P H's journey with Karnataka Bank is a testament to the institution's commitment to nurturing talent from within. His career trajectory includes:

• Joined as a Probationary Officer in May 2000
• Steadily climbed the ranks through various positions
• Promoted to Deputy General Manager in March 2021
• Most recently handled the Finance & Accounts portfolio

Qualifications and Expertise

The newly appointed CFO brings a robust financial background to his role:

• Bachelor of Commerce degree
• Chartered Accountant
• Certified Associate of the Indian Institute of Bankers (CAIIB)

His extensive experience spans critical areas such as Treasury & Accounts, Inspection & Audit, and Finance departments, providing him with a comprehensive understanding of the bank's operations.

Official Appointment Details

According to the bank's official communication:

• Vijayakumar P H has been promoted to General Manager (Scale VII)
• He will assume the role of CFO from September 15, 2025
• This appointment aligns with SEBI regulations and has been duly reported to the stock exchanges

Implications for Karnataka Bank

This appointment is expected to ensure continuity in financial management and strategy at Karnataka Bank. Vijayakumar P H's long-standing association with the bank and his in-depth knowledge of its financial operations position him well to steer the institution's fiscal policies and contribute to its growth trajectory.

As Karnataka Bank navigates the evolving financial landscape, the expertise and insider perspective that Vijayakumar P H brings to the CFO role could prove invaluable in maintaining the bank's competitive edge and financial health.

The seamless transition in the CFO position underscores Karnataka Bank's robust succession planning and its strategy of promoting from within, which can contribute to organizational stability and consistent leadership.