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Karnataka Bank shares in Monday’s trade (June 30, 2025) at around 1:30 pm traded with a cut of over 5 per cent at Rs 196.4 apiece on the BSE. At the day’s low, the stock after declining as much as 8.5 per cent hit levels of Rs 190.05.
The sharp drag in the share price of Mangalore-based private sector bank was triggered after its Managing Director (MD) and Chief Executive Officer (CEO)- Srikrishnan Hari Hara Sarma resigned from his position. His resignation will come into effect from July 15, 2025.
As per the press release, Sarma has cited personal reasons, including his decision to relocate back to Mumbai, for his resignation
Alongside, the bank’s executive director, Sekhar Rao also tendered his resignation. The Bank’s Executive Director, Sekhar Rao has also submitted his resignation citing inability to relocate to Mangaluru and other personal reasons. The resignation has been accepted by the Board and will be effective from July 31, 2025, added the release.
For maintaining operational stability during the transition phase, the lender’s board has appointed Raghavendra Srinivas Bhat as COO, with effect from July 2.
Karnataka Bank share price
In the last one year, the stock has corrected over 12 per cent, while it has traded on a flattish note over the past month.
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