Dhanlaxmi Bank appoints Ajith Kumar KK as MD and CEO

Private sector Dhanlaxmi Bank on Tuesday said it has appointed Ajith Kumar KK as Managing Director (MD) of the bank.

He will take charge on June 20, Kerala-based Dhanlaxmi Bank said in a regulatory filing.

The board at its meeting held on Tuesday approved the appointment of Ajith Kumar KK as Managing Director & CEO of the bank for a period of three years with effect from June 20, 2024, and on such remuneration as approved by RBI vide letter dated April 18, it said.

The bank will seek approval of the shareholders for the said appointment within the prescribed time period in accordance with the applicable provisions of the Companies Act, 2013 and SEBI regulations, it said.

He is a seasoned banker with over 36 years of experience with the Federal Bank in various facets of banking including Credit, Human Resources, Business, Branch Banking etc.

He is presently the Chief Human Resources Officer at Federal Bank in the cadre of president, it said.