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Power Moves at Karnataka Bank: Wholesale Banking Head Giridhar Rajaram Joins the Exit Wave

Updated: July 18, 2025 20:55

Image Source: India TV News
Karnataka Bank Ltd. also witnessed a major leadership change with the exit of Giridhar Rajaram as Head of Wholesale & Mid-Corporate Banking. The move, following a series of senior-level exits, is a phase of transition for the century-old private sector lender.
 
Key Highlights:
  • Giridhar Rajaram, who became a member of the team as Head of Wholesale & Mid-Corporate Banking in 2024, has left service. He has senior-level working experience at DBS Bank and has exposure to mid-corporate banking.
  • The move follows recent exits of senior officials like Managing Director and CEO Srikrishnan Hari Hara Sarma and Executive Director Sekhar Rao who quit the board following differences, causing high volatility in the bank's shares.
  • Raghavendra Srinivas Bhat, erstwhile Chief Operating Officer, has been appointed interim MD & CEO from July 16, 2025, until a permanent chief is sought.
  • Karnataka Bank is actively strengthening its management by bringing new leadership in addition to nurturing internal talent as part of its ongoing transformation process.
In spite of management turnover, the asset quality of the bank has been better, and deposits have risen steadily, although profits have recently come under pressure from increased expenses.
 
The latest exit is a challenge and opportunity for Karnataka Bank to redefine its strategic intent and rejuvenate its top management for its future growth.
 
Source: Economic Times, Moneycontrol, MarketScreener, BFSI Economic Times.

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