R Subramaniakumar, a veteran banker with over four decades of experience, was on June 11 announced as the new managing director and chief executive officer of RBL Bank. The board of directors has confirmed his appointment as the MD and CEO of the bank for a “period of three years”, the private lender informed the stock exchanges. He was appointed the administrator of Dewan Housing Finance Co Ltd after the mortgage financier’s board was superseded.
About the R Subramaniakumar:
Subramaniakumar’s tenure will begin from the date of his taking charge, under Section 35B of the Banking Regulation Act 1949. Subramaniakumar’s appointment came nearly six months after RBL Bank’s long-term MD and CEO Vishwavir Ahuja had stepped down In December 2021.
Subramaniakumar’s appointment as the RBL Bank chief comes in the backdrop of the bank reporting a net loss of Rs 74.74 crore in FY2022, as against a profit of Rs 50.77 crore in FY2021. The RBL bank had also reportedly come under regulatory lens, with the RBI, in December 2021, appointing its chief general manager Yogesh K Dayal as an additional director of the private lender for two years.