CSB MD & CEO CVR Rajendran announces retirement

Thrissur: After leading CSB Bank for over 5 years and playing a vital role in its transformation journey C. VR. Rajendran has decided to take early retirement from the post of Managing Director & CEO. He has announced his retirement to take care of his health under the advice of his physicians. Rajendran will continue to lead the Bank till March 31, 2022. 

The Board of Directors has approved his early retirement in a meeting held on Saturday.

The Board decided to constitute a search committee to identify and evaluate candidates from internally or externally for the position of Managing Director & CEO. 

Rajendran has been holding the position of Managing Director & CEO since December 9, 2016 and the current term is up to December 8, 2022.

Under his leadership, the Bank registered an impressive performance and returned back to the path of profitability in Q1 – FY 20, after incurring losses for many consecutive quarters.

Rajendran was instrumental in bringing Rs 1,208 crores of primary capital to CSB Bank from FIH Mauritius Investments Ltd (a subsidiary of Fairfax India Holdings Corporation). He was also the key driver in spearheading CSB Bank through a successful initial public offering which was oversubscribed 87 times.