Karnataka Bank has named Raghavendra S. Bhat, its Chief Operating Officer, as interim Managing Director & CEO effective July 16, 2025. The appointment runs for three months and requires shareholder sign-off at the bank's upcoming Annual General Meeting.
Bhat's elevation follows the resignation of former MD Srikrishnan Sarma and Executive Director Sekhar Rao, reportedly triggered by disagreements over board expenditure decisions. The bank's board has positioned Bhat's interim term as a stability measure while it conducts a search for a permanent CEO.
Bhat brings nearly four decades of institutional tenure to the role. He joined Karnataka Bank as a clerk in 1981, rose to Chief Operating Officer, and retired in 2019 before being recalled to lead during this transition period.
In his new capacity, Bhat has committed to growing the bank's business turnover from ₹1.8 lakh crore to ₹2 lakh crore. He has reaffirmed the bank's focus on agriculture, MSME, and retail lending while emphasising its profitability, dividend track record, and Mangaluru-rooted regional identity.
