According to an exchange filing, the board approved Bhat’s appointment for a term of three months or until the appointment of a regular MD & CEO, whichever is earlier, based on the approval received from the Reserve Bank of India (RBI).
Prior to this, Raghavendra Srinivas Bhat served as the Chief Operating Officer (COO) of the bank. He has resigned from the role of COO with effect from the close of business hours on 15 July 2025.
Raghavendra Srinivas Bhat began his career at Karnataka Bank in 1981 as a clerk. He has spent 38 years with the bank. He rose through the ranks and served as COO in the CGM cadre until 2019. During his time there, he managed various key functions, including HR, IT and digital banking, treasury, forex operations, insurance (third-party products), and rural economy. The bank credited his leadership and strategic vision as significant in shaping high-level decisions.
Karnataka Bank, a leading 'A' Class Scheduled Commercial Bank in India, was incorporated on 18th February 1924 at Mangaluru.
The bank fell 3.90% to Rs 199.40 after the bank's net profit fell 7.97% year-on-year to Rs 252.37 crore in Q4 March 2025. The bank's total income rose 2.55% YoY to Rs 2,686.69 crore in Q4 FY25.