India's Karnataka Bank falls after top boss Sarma steps down

Karnataka Bank

30/06/2025 10:41

Updates with statement by Karnataka Bank

** Shares of India's Karnataka Bank KBNK.NS down 5.52% to 196.17 rupees

** Lender's MD, CEO Srikrishnan Hari Hara Sarma has resigned citing personal reasons, KNBK said on Sunday

** Executive Director Sekhar Rao has also stepped down, co added

** Bank says has formed a search committee to identify candidates for the two positions

** Separately, KBNK says in an exchange filing that it is well capitalized, with a Capital Adequacy Ratio (CAR) of over 19.85%

** Central bank of India mandates a minimum CAR of 9% for commercial banks

** YTD stock has fallen 8.4%

 (Reporting by Hritam Mukherjee in Bengaluru)

 ((Hritam.Mukherjee@thomsonreuters.com;))