Karnataka Bank share price has a low of 7% to 4 weeks low as the top management steps off | Einsmark news

Karnataka Bank share price in focus Today: Shares of Karnataka Bank crashed by 7.53% on Monday, June 30, to a four-week low of £ 192, after the MD and CEO Srikrishnan Hara Sarma said, the bank said on Sunday. In addition, the executive director of the bank, Mr. Sekhar Rao, also retired, citing his inability to move to Mangaluru and other personal reasons. “The Council of Directors of Karnataka Bank earlier today accepted the resignation of the managing director and CEO of the bank, Mr. Srikrishnan Hari Hara Sarma. “The executive director of the bank, Mr Sekhar Rao, also resigned, citing his inability to move to Mangaluru and other personal reasons. The resignation was accepted by the board and will be in effect from 31 July 2025,” the bank said in the June 29 regulatory filing. The bank said it formed a search committee to identify suitable candidates for the positions of managing director and CEO, as well as executive director. It also appointed an experienced senior banker as the chief operating officer (COO), who will be charged on July 2, 2025. In addition, the arrangements are made, subject to regulatory approval. “The bank is still taking the necessary steps to ensure operational stability and ensures different stakeholders that it is well capitalized and fundamentally healthy. The transformational journey undertaken by the bank will continue unabated,” the bank said further. Karnataka Bank share price trend The bank’s shares saw a constant decline after hitting a peak of £ 286.55 in January 2024. The fall continued in February 2025 before the share regained a momentum in March. While the share has achieved profits over the past three months, with 18%, it remains 32% below the record height. For the quarter ended March 31, the bank reported a drop in the consolidated net profit to £ 2.53bn, from £ 2.74bn a year earlier. The interest earned during the term rose to £ 22.6 billion, compared to £ 22.0bn in the same period last year. The board of directors recommended a final dividend of £ 5.00 per equity share of the face value £ 10 each for the financial year ended 31 March. Disclaimer: The views and recommendations given in this article are those of individual analysts. This does not represent the views of coin. We advise investors to check with certified experts before making investment decisions.