TRISSUR: The Reserve Bank of India (RBI) has approved the appointment of T. Latha as the managing director and CEO of Dhanalaxmi Bank, the smallest listed bank from Kerala.
Latha will be replacing G Sreeram as the MD and CEO of the bank. Sreeram is stepping down after being at the helm of the bank for more than three years. The main task before the new CEO and MD of the bank will certainly be to bring the bank back to profitability.
Dhanalaxmi Bank, which has been struggling for some time to remain profitable, has posted a loss for the fourth quarter of Rs17.16 crore, and Rs24.87 crore for the full year ending March 31, 2018.
Though there are four banks based in Kerala, (and one payments bank too, ESAF Bank), two banks – Catholic Syrian Bank (CSB) and Dhanalaxmi Bank, have been struggling to stay healthy for some time now.