RBL Bank stated on Monday that it had got permission from the Reserve Bank of India (RBI) and RBL Bank shareholders to re-appoint R Subramaniakumar as the bank’s managing director and CEO, effective June 23, 2025, through June 22, 2028 (both days inclusive).
“We wish to inform you that pursuant to the recommendations of the Nomination and Remuneration Committee of the Board, the Board of Directors of the Bank at its meeting held today i.e. December 16, 2024 has inter-alia considered and approved the re-appointment of Mr R Subramaniakumar as “Managing Director & CEO” of the Bank, for a period of three (3) years, with effect from June 23, 2025 up to June 22, 2028 (both days inclusive) subject to the approval of the RBI and the sha Accordingly, the Bank will file an application with the RBI under Section 35B of the Banking Regulation Act, 1949,” RBL Bank stated in a regulatory filing.
R Subramaniakumar has been the bank’s managing director and CEO since June 23, 2022. He has more than 40 years of banking expertise. He has extensive experience in fields such as business transformation, banking technology, risk management, innovation, NBFC management, and business process re-engineering across organisations.
R Subramaniakumar started his banking career with Punjab National Bank (PNB) in 1980. As he climbed through the ranks in various executive positions, he worked throughout the bank’s spectrum and territory, focusing on Business Transformation and boosting business sectors such as Digital, Human Resources, MSME, Retail, and Overseas Operations, according to the Bank. As a member of PNB’s core team, he developed banking subsidiaries in the United Kingdom, Bhutan, Nepal, and Kazakhstan. He has held many executive positions in PNB, including Director of DRUKPNB, Bhutan.
Earlier in October, RBL Bank reported a 24% year-on-year (YoY) fall in earnings to Rs 223 crore for the quarter ending September 2024. Despite the drop in PAT, RBL Bank’s net interest income (NII) increased by 9% YoY, hitting Rs 1,615 crore. The bank’s net interest margins (NIMs) were reported at 5.04 per cent for the quarter. Additionally, RBL Bank’s operational profit increased by 24 per cent year on year.
