RBL Bank on Monday announced that it has received an approval from the company board to re-appoint R Subramaniakumar as the managing director and CEO of the Bank, with effect from June 23, 2025 up to June 22, 2028 (both days inclusive).
“We wish to inform you that pursuant to the recommendations of the Nomination and Remuneration Committee of the Board, the Board of Directors of the Bank at its meeting held today i.e. December 16, 2024 has inter-alia considered and approved the re-appointment of Mr R Subramaniakumar as “Managing Director & CEO” of the Bank, for a period of three (3) years, with effect from June 23, 2025 up to June 22, 2028 (both days inclusive) subject to the approval of RBI and the shareholders of the Bank. Accordingly, the Bank shall make an application to RBI in this regard under Section 35B of the Banking Regulation Act, 1949,” RBL Bank said in a regulatory filing.
R Subramaniakumar has been the managing director & CEO of the Bank since June 23, 2022. He is a veteran in the banking industry with over 40 years of experience. He has immense depth of knowledge in domains of business transformation, banking technology, risk management, innovation, NBFC management, business process re-engineering, among other areas, across organisations.
R Subramaniakumar began his banking career with Punjab National Bank (PNB) in 1980. As he rose through the ranks in various managerial capacities, he worked across the bank’s spectrum and geography, heading Business Transformation and especially enhancing business areas of Digital, Human Resource, MSME, Retail, Overseas Operations, among others, the Bank said in a statement. As part of the core team at PNB, he established Banking subsidiaries’ operations in the UK, Bhutan, Nepal and Kazakhstan. He has held various leadership roles through the course of his career at PNB, including being the Director of DRUKPNB, Bhutan.
Earlier in October, RBL Bank had reported a 24 per cent year-on-year (YoY) decline in profit to Rs 223 crore for the quarter ended September 2024. Despite the dip in PAT, RBL Bank’s net interest income (NII) grew by 9 per cent YoY, reaching Rs 1,615 crore. The bank’s net interest margins (NIMs) were reported at 5.04 per cent for the quarter. Additionally, RBL Bank saw a 24 per cent YoY growth in its operating profit.