Sunday, July 3, 2022
HomeBusinessRBL Bank Clarifies on Asset Quality Challenges After Stock Hits All-Time Low;...

RBL Bank Clarifies on Asset Quality Challenges After Stock Hits All-Time Low; Know Details


RBL Bank announced the appointment of veteran banker R Subramaniakumar as its new MD & CEO after which the shares saw a fall of over 21%

After shares of RBL Bank plunged over 22 per cent in the previous trading session, the bank has issued a clarification on appointing a bad loan expert as the CEO

  • Last Updated:June 14, 2022, 11:01 IST
  • FOLLOW US ON:

After shares of RBL Bank plunged over 22 per cent in the previous trading session, the bank has issued a clarification on appointing a bad loan expert as the CEO & MD. It said “There has been considerable speculation and rumours linking the appointment of the new MD & CEO of the Bank, Mr. R S Kumar, with asset quality challenges for the Bank in the near future. We wish to reiterate that such speculation is baseless and unfounded and purely speculative in nature.”

In the previous session, the stock was under pressure as on being nudged by Reserve Bank of India (RBI), the bank appointed a new CEO, who the central bank had earlier brought in to clean up the bad loan mess at troubled housing finance company DHFL.

RBL Bank had said on Saturday that the RBI had approved the appointment of R Subramaniakumar as MD & CEO of the bank. According to reports, the RBI had chosen from a list of names suggested by the private bank, which included a few private bankers. Subramaniakumar, a public sector banker for four decades, was appointed by RBI as the administrator of DHFL in 2019. He had successfully resolved the case, including the sale of assets to Piramal.

Read all the Latest News , Breaking News , watch Top Videos and Live TV here.



Source link

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Recent Comments