DCB Bank added 1.10% to Rs 120 after its board approved the appointment of Praveen Achuthan Kutty as the managing director & chief executive officer (MD & CEO) of the bank for a period of three years effective from 29 April 2024.
Further, the board has also resolved that by virtue of Kuttys appointment as the MD & CEO, he shall be considered as whole-time key managerial personnel (KMP) of the bank.Praveen Achuthan Kutty is a career banker with over 32 years of experience in all aspects of Retail & SME banking. He has been a part of DCB Bank leadership team for the past 16 years during which time he has played a pivotal and key role alongside the current MD & CEO and management team in turnaround and building the bank. At present he manages retail, SME and agri banking.
Prior to joining DCB Bank, he worked in Citibank. His last assignment in Citibank was in New York, as the Head for Non Resident Indian Business, for US & Canada. He holds a B Com and MBA degree.
DCB Bank is engaged in providing banking and financial services. The bank reported 11.18% rise in net profit to Rs 126.58 crore on 28.33% jump in total income to Rs 1,497.82 crore in Q3 FY24 over Q3 FY23.
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