Karnataka Bank Managing Director and Chief Executive Officer P Jayarama Bhat would continue for a third term in office with RBI approving the proposal by the bank's board.
Mr Bhat's term would be extended for another three years from July 14, which would help the bank to carry forward its ongoing reforms including KBL Vision 2020, a bank release said today.
The total business of the bank had increased from Rs 32,034 crore in 2009 to Rs 75,901 crore till June this year while Bhat was at the helm of affairs.
The number of branches had increased from 449 to 682 and ATMs from 177 to 1033 during the period and the capital funds grew from Rs 1,567 crore to Rs 3,389 crore, the release said.
Mr Bhat is now a member of Indian Banks Association (IBA) committee on retail banking.