South Indian Bank on Wednesday announced that Mahesh Muralidhar Pai will take charge as the Managing Director & Chief Executive of the Bank, effective October 1.
Pai’s appointment as MD & CEO for a three year period was approved by RBI and by the lender’s board in July. The company’s shareholders also accorded their approval during the annual general meeting last month.
“As South Indian Bank builds on the progress made in recent years, his leadership will be important in strengthening execution, deepening customer relationships and accelerating the Bank’s digital and business transformation,” Jose Joseph Kattoor, Chairman, South Indian Bank, said in a release.
Pai comes with nearly three decades of experience across strategy, governance, digital banking, treasury, foreign exchange, retail banking, agriculture and MSME credit in universal banking. During his career at Canara Bank as Chief General Manager, Pai drove several strategic and business-critical initiatives, including setting up the Bank’s gold loan vertical, the Kerala-based lender said.
“My focus will be on driving our businesses, pursuing growth opportunities with discipline and strengthening our capabilities for a rapidly evolving financial landscape,” Mahesh Muralidhar Pai, Managing Director & CEO, South Indian Bank, said.
Shares of South Indian Bank closed flat at ₹48.17 on NSE.