Tamilnad Mercantile Bank (TMB), one of the oldest private sector banks in the country, is looking for a new Managing Director and Chief Executive Officer.
K B Nagendra Murthy, the current managing director and chief executive officer, is expected to retire on July 2, 2014.
According to the bank announcement, the post is a contractual one for a period of three years and the bank would offer a salary of Rs 42 lakh per annum with "excellent perks."
TMB is one of the few banks that has a high reserve base and its earnings per share remains the highest. It is the only bank in India which has consistently declared a higher rate of dividend to its shareholders from the very beginning.
As reported earlier, TMB's shareholding pattern is under dispute with several cases being fought by the bank in courts across the country.
ALSO READ: TMB banks on public float for growth
