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Dhanlaxmi Bank Ltd Shifts Focus On Profitability, Cost Cuts Spur Top-Level Exits-The Economic Times

Monday, 5 Nov 2012 12:19am EST 

The Economic Times reported that at least five senior executives have quit Dhanlaxmi Bank Ltd in the past few weeks as the new management under PG Jayakumar cuts costs to re-focus business on profitability than just growth, said two people familiar with the developments. The Thrissur-based bank's head of branch banking, Salil Datar; head of retail assets and credit cards, Arvind Hali; and Chief Financial Officer Bipin Kabra have quit in the past month or so, bringing down costs substantially that had bloated under former Chief Executive Amitabh Chaturvedi , they said requesting anonymity. Chief operating officer K Muralidharan and human resource head Manish Kumar were among those said to have quit. Some independent Directors have also quit the Board. 

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