New Delhi,   CSB Bank's Managing Director and CEO C. VR. Rajendran has decided to take an early retirement, the lender said on Saturday.

Accordingly, Rajendran will continue to lead the bank till March 31, 2022.

"After leading CSB Bank for over 5 years and playing a vital role in its transformation journey and being instrumental in making the bank cross multiple milestones, Mr. C. VR. Rajendran has decided to take an early retirement from the post of Managing Director and CEO to take care of his health under the advice of his physicians," the bank said in a statement.

His decision to move on from the post of Managing Director and CEO has been approved by the Board of Directors in a meeting held on Saturday.

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

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

"It has been decided to engage an independent executive search firm in this connection."

Established in 1920 as the Catholic Syrian Bank Limited, CSB Bank Limited is one of the oldest private sector banks in India.

It has a strong presence in Kerala along with significant presence in Tamil Nadu, Maharashtra and Karnataka.