Ajith Kumar KK Appointed as MD of Dhanlaxmi Bank

Dhanlaxmi Bank has appointed Ajith Kumar KK as its new Managing Director (MD) effective from June 20, 2024. The seasoned banker, with over 36 years of experience, will take the helm following shareholder approval. This comes after an RBI-approved remuneration package.

In a significant announcement on Tuesday, Dhanlaxmi Bank confirmed the appointment of Ajith Kumar KK as its new Managing Director (MD). Effective from June 20, 2024, Kumar's appointment follows regulatory approval from the Reserve Bank of India (RBI), according to a filing made by the Kerala-based bank.

The decision was ratified during a board meeting held on Tuesday, where members approved Kumar's tenure and remuneration, set in place for three years as per the RBI's letter dated April 18. Kumar's extensive banking experience spans over 36 years, largely with Federal Bank, where he served in capacities including Credit, Human Resources, Business, and Branch Banking.

Currently the Chief Human Resources Officer at Federal Bank, Kumar's immediate agenda at Dhanlaxmi Bank will include seeking shareholder approval as per the Companies Act, 2013 and SEBI regulations. The bank emphasized that this transition aims to leverage Kumar's seasoned expertise to drive its strategic goals.

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