Abhishek Securities

CSB has been struggling with bad loans and operational losses for many years. Private sector lender Catholic Syrian Bank (CSB) is set to get a new managing director and chief executive soon. The names of three former officials from public sector banks have been sent to the Reserve Bank of India for its approval, said CSB chairman S. Santanakrishnan. The names before RBI are C.V.R. Rajendran, chief executive of the Association of Mutual Funds of India and former chairman and managing director of Andhra Bank; M.S. Raghavan, former chairman and managing director of IDBI bank; and Jeevan Das Narain, former managing director of the State Bank of Travancore. CSB is also looking for a candidate to replace Santanakrishnan after he retires early next year, said a person in the know. CSB has been struggling with bad loans and operational losses for many years. The bank had planned to raise Rs400 crore through an initial public offering last year, but dropped the plan due to weak financ

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