RBL Bank: RBL stock over 22% as Street weighs in on new CEO’s ‘compatibility’

Mumbai: shares of RBL Bank fell more than 22% on Monday, its worst single-day crash since its listing in August 2016, as the Street appeared to be disappointed with the new CEO appointment. Public sector credit career banker R Subramaniakumar has been named the new MD and CEO of the bank. Analysts raised concerns over the potential compatibility of a public sector banker to handle a new age private sector bank. Some suspended their coverage of RBL Bank, some downgraded the stock rating. agencies Ashutosh Mishra, Head of the Company,…