The bank further stated that a meeting of the board of directors will be convened in due course to approve the appointment of Ajith Kumar K.K as the MD & CEO of the bank.
The private sector lender will also seek the approval of its shareholders for the same, as per the regulatory provisions.
Ajith Kumar K.K is a seasoned banker with over 36 years of experience with the Federal Bank Limited in various facets of banking including credit, human resources, business, branch banking, etc.
Presently, he is the chief human resources officer in Federal Bank Limited in the cadre of President. He is also director of Federal Operations & Services Limited, wholly-owned subsidiary of Federal Bank Limited, on account of his employment.
Dhanalakshmi Bank offered services of personal banking are savings account, current account, term deposit, personal loans, car loans, home loans, business loans, loan against property, credit card, debit card, internet banking and mobile banking services.
The bank had reported a net profit of Rs 3.05 crore in Q3 FY24, which is sharply lower as comared with the PAT of Rs 21.73 crore posted in Q3 FY23. Total income of the bank rose 10% YoY to Rs 343.42 crore during the period under review.
The scrip fell 2.05% to currently trade at Rs 42.90 on the BSE.
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Valued Customer,
BOB Capital Markets Limited (BOBCaps) is firmly committed to the safety of your wealth. We would like to bring to your notice certain precautions that you certainly must take against potential tele-fraudsters/ unscrupulous and unregistered portfolio managers:
ALWAYS AVOID
Certain tele-fraudsters / unscrupulous and unregistered portfolio managers call customers or SMS them on the pretext of providing investment tips and lure them to invest through their bogus firms by promising huge profits. Such deceitful callers ask the customer to share his/her login credentials with passwords to allow trading in their accounts, assuring huge returns. Often trades done in the customer’s accounts are far from the best interest of the customers. Holdings of customers are often sold and with the funds, trades are then placed in illiquid securities at unrealistic prices. At times, the holdings of customers are sold at prices detrimental to the customer.
The so-called “portfolio manager” assures profits, which naturally does not materialize. Customers are deceived into providing access to their trading accounts, thereby allowing such fraudsters access to funds and securities available to execute trades, injurious to the customer’s interest.
We would like to caution you against such fraudulent calls and SMSes and urge you to be alert. Follow the golden rule:
Do not share your Login Credentials or Passwords with anybody
BOBCaps employees / representatives never ask for your password.
The following illicit activities by the persons named herein have come to the notice of Stock Exchanges: