Karnataka Bank gets additional director
May 26, 2021
Former ED of OBC Balakrishna Alse joins KBL’s Board
Karnataka Bank Ltd has appointed Balakrishna Alse S, former Executive Director of Oriental Bank of Commerce (OBC), as Additional Director (Non-Executive, Independent) at its board meeting held on Wednesday.
During his 35 years of tenure at Corporation Bank, Alse had worked in Agriculture Policy and Lending, Credit Sanctions, Credit Risk Management, HR, Integrated Risk Management (as Chief Risk Officer) and Information / Cyber Security (as Chief Information Security Officer). He also had concurrent charge of Chief Vigilance Officer for over seven months.
In his capacity as Executive Director of OBC, he was overall-in-charge of Corporate Credit, Stressed Assets Management, Recovery, Accounts including Audit and Balance Sheet, Risk Management, Digital Banking, Cyber security, etc.
Financials stocks were trading in green, with the S&P BSE Finance index increasing 115.06 points or 1.55% at 7538.27 at 09:49 IST. Among the components of the S&P BSE Finance index, Angel Broking Ltd (up 4.99%), Karnataka Bank Ltd (up 4.54%),Indiabulls Housing Finance Ltd (up 3.99%),IndusInd Bank Ltd (up 3.3%),JM Financial Ltd (up 3.01%), were the top gainers. Among the other gainers were SBI Cards & Payment Services Ltd (up 2.97%), CSB Bank Ltd (up 2.82%), Equitas Small Finance Bank Ltd (up 2.82%), Piramal Enterprises Ltd (up 2.71%), and Shriram City Union Finance Ltd (up 2.62%). On the other hand, Centrum Capital Ltd (down 0.65%), Pilani Investment & Industries Corporation Ltd (down 0.5%), and Satin Creditcare Network Ltd (down 0.48%) turned lower.
April 24, 2021
Karnataka Bank Managing Director and CEO M.S. Mahabaleshwara addresses staff members in Mangaluru on Thursday - The Hindu
Karnataka Bank Managing Director and CEO M.S. Mahabaleshwara addresses staff members in Mangaluru on Thursday - The Hindu×
The digital transactions of Karnataka Bank stood at an all- time high exceeding 90 per cent, he adds Karnataka Bank Ltd (KBL) has said that its strategy to ‘conserve, consolidate and emerge stronger’ has done wonders during the Covid pandemic-driven crisis.
In a letter to the shareholders, Mahabaleshwara MS, Managing Director and Chief Executive Officer of KBL, said the resilience of KBL was well exhibited during the pandemic-driven crisis. The Covid-19 business prescription of KBL ‘conserve, consolidate and emerge stronger’ has done wonders, he said, adding the bank has been able to contain the expenditure significantly, improve the operational efficiency, realign the credit portfolio by focusing o
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Karnataka Bank Ltd reports to RBI fraud in credit facilities extended to IL&FS Transportation Networks Ltd
Posted On: 2021-02-19 07:09:37 (Time Zone: Arizona, USA)
Karnataka Bank Ltd has reported to RBI a fraud in the credit facilities extended earlier to IL & FS Transportation Networks Ltd (Scrip Code: 533177, IL&FSTRANS) with an outstanding balance of Rs. 34.16 crore (Defaulted entity).
The above entity had availed credit facilities from us during 2016 under multiple banking arrangement wherein, our Bank was one of the member Banks and during 2018, the borrowing account was classified as Non-Performing Asset and has been fully provided for. As such, no impact on the financials of the Bank going forward.