RBI approves appointment of Mr. Murali Ramakrishnan as MD & CEO of South Indian Bank

RBI has vide its letter no DOR. Appt. No.401/08.5l.00112020-21 dt 02.09.2020 has approved the appointment of Mr. Murali Ramakrishnan (DIN: 01028298) as Managing Director & CEO of South Indian Bank Ltd for a period oftbree years with effect from October 1, 2020.

Mr. Murali Ramakrishnan (DIN: 01028298), aged 58 years, is an Engineering Graduate (B.Tech- Chemical Engineering) and holds Post Graduate Diploma in Finance and Marketing from IIM - Bangalore. He has a work Experience of over 34 years. He retired from ICICI Bank as Senior General Manager at Strategic Project Group on May 30, 2020 and joined the Bank as an Advisor on July 1, 2020. During his tenure at ICICI Bank, in the last assignment he was heading a business transformation project of SME business. Mr. Murali Ramakrishnan was the Chief Executive Hong Kong and Regional Head - North Asia, Srilanka, Middle East and Africa. (March 2012 to August 2016) (Senior General Manager grade). As Head of the region, he was responsible for the entire operations of the Bank in the locations, managing a large balance sheet of around US 20 Billion, contributing to more than 60% of profits of International Business group of ICICI Bank. Apart from being the Chief Executive of HongKong branch, he was also responsible for strategizing businesses and ensuring that the deliverables are met for the region, which included branches in China, Sri Lanka, Dubai, Bahrain, Qatar and South Africa. During May 2009 to March 2012, he was heading Credit Risk, managing Credit Risk for the domestic operations of the Bank (General Manager). During May 2006 to May 2009, he was Head Risk, Policy and BIU for Retail and SME businesses of the Bank. During April 2004 - Apr 2006, he was Group Business Head, heading three businesses viz. Construction Equipment Finance Business (CE), Professional Equipment Finance Business (PE) and Cluster Banking Group-SME. During April 2002 to April 2004, he was heading CE and Professional Equipment Finance Businesses. During Aug 1999 to April 2002, he had conceived, started Commercial Vehicle finance business and Construction Equipment (CE) Finance business for ICICI Bank Ltd.

Mr. Murali Ramakrishnan had handled the entire banking operations, managing over USD 20 Billion in a complex International geography spreading across continents - akin to heading a medium sized bank in India. He has varied experience in the entire banking industry in many facets of banking businesses both in domestic and international markets viz. Retail, SME, Corporate, Project Finance, International Business, Risk, Policy, BIU etc. apart from handling 8 regulators across various markets in Asia, MENA and South Africa. He had represented the bank in the board of CIBIL and also in the Risk advisory board of VISA for Asia Pacific. Before joining the ICICI Bank Ltd., he had worked for GE Capital TFS Ltd, SRF Finance Ltd, Spartek Emerging Fund, Can bank Venture Capital fund and Spic Ltd.

He had taken part as Moderator, Speaker and Panel member in several International forums and domestic seminars and had taken special sessions in Credit Risk in reputed Management Institutes. He had attended various national and international level Leadership, Management and Risk Management programs.

Shares of SOUTH INDIAN BANK LTD. was last trading in BSE at Rs.7.26 as compared to the previous close of Rs. 7.2. The total number of shares traded during the day was 1222931 in over 20899 trades.

The stock hit an intraday high of Rs. 7.35 and intraday low of 7.19. The net turnover during the day was Rs. 8872626.

Source : Equity Bulls

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