Santosh Nair appointed as Head of Consumer Lending and Mortgages at Bandhan Bank

2 Feb 2024 , 10:25 AM

On Thursday, February 1, Bandhan Bank named Santosh Nair, a former CEO of HDFC Sales, as the Head of Consumer Lending and Mortgages.

Shantanu Sengupta of Bandhan Bank has announced his resignation as Head of Retail Banking. He will, however, help the bank through a seamless transition and depart the company in early FY2024–2025 to seek possibilities outside the bank.

Bandhan Bank's MD and CEO, Chandra Shekhar Ghosh, anticipates that Nair will play a significant role in advancing the company's goals of fortifying the secured book and broadening the private sector bank's asset book.

'Santosh is a highly experienced professional with expertise in retail and mortgage lending,' Ghosh stated. Santosh will play a significant role in advancing the bank's strategy of strengthening its secured book and diversifying its asset book, both of which have been areas of focus for the organization. I extend a warm welcome to Santosh on behalf of everyone at Bandhan Bank.'

During his thirty years in the business, Santosh Nair held the position of CEO of HDFC Sales in addition to holding positions at HDFC and HDFC Bank.

The loan portfolio of the Kolkata-based bank increased by 18.6% year over year (YoY) and 7.7% quarter over quarter (QoQ) in the third quarter of FY24, according to the bank's Q3 FY2024 figures, which were made public in the first week of January 2024. This statistic represents the reduction in the non-performing asset (NPA) portfolio following a sale to an asset reconstruction company (ARC) of ₹720 crore. It comprises components related to pass-through certificates (PTC), on-book, off-book, and targeted longer-term refinancing operations (TLTRO).

For feedback and suggestions, write to us at [e-mail]