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South Indian Bank said in a regulatory filing on 28 March 2023 that its board in a meeting held on 28 March 2023, considered the request of Murali Ramakrishnan to not offer himself for re-appointment as MD & CEO due to personal reasons or family circumstances, on completion of the current term. Ramakrishnan's ongoing tenure will complete on 30 September 2023.
"The Search Committee, constituted by the Board, will identify and evaluate suitable candidates for the position of Managing Director & CEO," the bank added.
The media reported that the lender has appointed Hunt Partners for hiring the new MD & CEO, and look for both internal and external candidates in the process.
South Indian Bank is a major private sector bank headquartered at Thrissur in Kerala, India.
South Indian Bank reported net profit of Rs 102.75 crore in Q3 December 2022 as against net loss of Rs 50.31 crore in Q3 December 2021. Total income fell 1.53% year-on-year to Rs 1,864.09 crore in Q3 December 2022.
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