South Indian Bank Appoints PR Seshadri as New CEO

South Indian Bank (SIB), a key player in the banking sector with a market capitalization of Rs 56.71 billion, has appointed PR Seshadri as its new Managing Director and CEO, effective from Monday. Seshadri takes over from Murali Ramakrishnan, who held the position from October 1, 2020, to September 30, 2023.

Seshadri brings nearly 25 years of experience in both domestic and international banking to his new role. He has held senior leadership positions at various institutions, including Karur Vysya Bank and Citigroup. Before his appointment at SIB, Seshadri served as the CEO of Karur Vysya Bank. Under Ramakrishnan’s leadership, SIB experienced consistent growth in earnings per share.

Upon assuming his new role, Seshadri expressed his enthusiasm for leading the bank. “It is a privilege to head South Indian Bank as we embark on a growth journey, leveraging technology while maintaining our business values and rich heritage,” he stated. He also expressed eagerness to collaborate with the bank’s professionals to enhance its legacy and navigate the changing financial landscape. The bank is currently trading close to its 52-week high.

Thomas Joseph K, Executive Vice President and Chief Business Officer at South Indian Bank, welcomed Seshadri’s appointment. He commended Seshadri’s proven track record and visionary mindset, indicating that his expertise will help elevate the bank’s performance. Joseph also emphasized the bank’s commitment to exploring new opportunities in finance and redefining growth through a customer-focused approach under Seshadri’s leadership.

In addition to his extensive banking experience, Seshadri holds a degree in electrical engineering and a Post Graduate Diploma in management from IIM Bangalore. His career has been characterized by his ability to scale, optimize, and transform businesses, making him well-prepared to lead South Indian Bank into a period of growth and innovation while preserving its core values and legacy.