K S R Anjaneyulu, Managing Director and Chief Executive Officer of private sector Lakshmi Vilas Bank has stepped down and has been replaced by Rakesh Sharma.
"Anjaneyulu demitted office as interim MD and CEO on March 7. Rakesh Sharma has assumed office as Managing Director and CEO on March 7. The decision was taken at the board of Tamil Nadu based bank which met today, LVB said in a BSE filing.
The bank posted net profits of Rs 7.43 crore for the third quarter ending Dec 31, 2013 down by 76.2 per cent from Rs 31.30 crore registered in the same period of previous year.
Total business improved to Rs 30,213 crore for the quarter ended December 31, 2013, up by 16.96 per cent from Rs 25,831 crore registered during the same period of the previous year, the statement added.
