Dhanlaxmi Bank was removed from the RBI PCA framework, subject to certain conditions and continuous monitoring.
Shares
of Dhanlaxmi Bank rallied 19.4 percent
intraday on February 24 after the Reserve Bank of India approved
the appointment of Sunil Gurbaxani as CEO and Managing Director.
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"The
RBI through its letter of February 20 has approved the appointment of Sunil Gurbaxani
as
Managing
Director & CEO of the bank for a period of three years from the date of
taking charge," the
bank
said in its BSE filing.
Currently,
Gurbaxani is the Executive Vice President at Axis Bank.
Dhanlaxmi
Bank was removed from the RBI PCA framework, subject to certain conditions and
continuous
monitoring, as the bank is found to be not breaching any of the risk thresholds
of the
framework.
During
the third quarter ended December, the bank reported a 26 percent rise in net
profit to Rs 21.28
crore
for the third quarter ended December, against Rs 16.90 crore during the
corresponding period in
previous
fiscal.
At 13:14 hours, the stock was quoting at Rs 15.45, up to Rs
2.22, or 16.78 percent on the BSE.
