<h1>Private Bank Appoints New CEO for Three Years Pending Regulatory Approval Under Section 10(b)</h1> A private sector bank appointed a new Managing Director and CEO for a three-year term, effective August 25, 2025, subject to shareholder approval and regulatory clearance from the central banking authority. The appointment follows the resignation of the previous CEO amid accounting irregularities involving bad loans and derivative portfolio losses amounting to approximately 2.35% of the bank's net worth. The new CEO, formerly a deputy managing director at another major bank, assumed the role after retiring from his prior position. The central bank extended the tenure of the bank's executive committee by one month pending approval of the new appointment. The bank disclosed the financial impact of the accounting lapses in its fiscal year 2024-25 filings.