 "Karnataka Bank")
Shares of Karnataka Bank fell over 5 per cent on Monday following the resignations of its managing director (MD) & chief executive officer (CEO) and executive director (ED), which was communicated to the exchanges late Sunday evening. Both cited personal reasons for the decisions.
In May, the bank’s statutory auditors had flagged certain expenditure incurred by the whole-time directors without taking the board into confidence, which may have led to resignations, sources said.
On Monday, the bank sought to reassure customers, stating it remains well-capitalised with a capital adequacy ratio of 19.85 per cent-- reflecting its strong financial position and
