Daijiworld Media Network - Mangaluru (SP)

Mangaluru, Jun 23: Current managing director and chief executive officer of city-based Karnataka Bank Ltd, P Jayaram Bhat, has been appointed for this post for the third term. His term was to end on July 13 this year. Bhat, who took over reins of this private sector bank in 2009, will continue to be in the post for another three-year term.

The proposal made by the board of directors of the bank for the continuance of Bhat in the post has been approved by Reserve Bank of India. The bank said that during the tenure of Jayaram Bhat, who took over as managing director on July 14, 2009, the bank has achieved all-round progress. During these six years, total turnover of the bank has touched Rs 75,901 crore from Rs 32,000 crore, it said. During this period, the number of branches swelled from 449 to 682, while ATMs, which were 177, have gone up to 1,033.

Bhat had earned best manager award, best achievement award, and new year award 2015 from Manipal University during his term. The bank too succeeded in annexing a number of awards during this period.

Jayaram Bhat, who is the president of Bankers Club Mangaluru, also is a member of Indian Banks Association managing committee and chairman of private banks committee. The bank is making preparations for 'Vision 2020' under the illustrious leadership of Jayaram Bhat.