The private lender on Wednesday announced that its board has approved the re-appointment of Suresh Kishinchand Khatanhar as deputy managing director (DMD) on the board of the bank for a period of one year with effect from 15 January 2023.
IDBI Bank said that it has received the Reserve Bank of India's (RBI) approval in this regard.
Khatanhar is a career banker with a total experience of 38 years in almost all areas of commercial banking in public sector bank, new generation private sector bank and universal bank. He started his banking career with Dena Bank and handled branch banking, credit appraisal/ monitoring, stressed accounts, represented the bank at board for industrial and financial reconstruction (BIFR) / appellate authority for industrial and financial reconstruction (AAIFR) hearings and handled all HR related work at centralized HR department of the bank.
Further, the bank said that he later, joined IDBI Bank as senior relationship manager and served the organization in various capacities including as chief general manager (CGM) & head-internal audit, chief risk officer and chief compliance office.
He also handled large corporate branches including Overseas Branch (DIFC) of the bank. To drive the retail banking business, he was appointed as DMD to spearhead the bank's vision, direction and business model.
Currently, he is handling retail assets, credit cards, third party distribution & LIC synergy; retail liabilities, BOSPD & currency chest; priority sector group & financial inclusion; treasury & international borrowing; credit monitoring group; retail collection & recovery, audit, legal, centralized operations, corporate strategy & planning and administration, the private sector bank stated.
IDBI Bank is one of India's one of the state own largest bank having more than 1,890 branches with 3,300 ATM'S across the globe. The Government of India held 45.48% stake while the Life Insurance Corporation of India held 49.24% stake in the bank as on 30 September 2022.
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The bank reported 46% jump in net profit to Rs 828.09 crore on 18.2% rise in total income to Rs 6,065.51 crore in Q2 FY23 over Q2 FY22.
Shares of IDBI Bank were up 0.57% to Rs 53.20 on the BSE.
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