Private sector Dhanlaxmi Bank on Tuesday stated that it has appointed Ajith Kumar KK as the Managing Director (MD) & Cheif Executive Officer (CEO) of the bank. As per the Kerala based Dhanlaxmi Bank, he will be taking charge from June 20, Kerala-based Dhanlaxmi Bank said in a regulatory filing.

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

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

Speaking of Ajith, he is a seasoned banker with over 36 years of experience with the Federal Bank across various facets of banking including Credit, Human Resources, Business, Branch Banking among others. The bank highlighted that Ajith is currently the Chief Human Resources Officer at Federal Bank in the cadre of president.