Bandhan Bank gets Board approval to reappoint Chandra Shekhar Ghosh as MD & CEO

28 Nov 2023 , 12:57 PM

The board of directors of Bandhan Bank has accepted Chandra Shekhar Ghosh’s reappointment as Managing Director & Chief Executive Officer (MD&CEO) of the Kolkata-based bank for a three-year term.

According to the private sector lender’s regulatory filing, Ghosh’s current tenure as MD & CEO of the Bank will expire on July 9, 2024, and according to regulatory provisions, applications for re-appointment of MD & CEO shall be submitted to RBI at least six months before the expiry of the current term.

‘With effect from July 10, 2024, not liable to retire by rotation, subject to the approval of the Reserve Bank of India (RBI) and the Shareholders of the Bank,’ read the statement issued by the bank.

Ghosh brings in over three decades of experience in microfinance, banking, and development segments.

Bandhan Bank announced a net profit of Rs 721.20 crore in the July-September quarter of the current fiscal year, up 244% from Rs 209.3 crore in the same time previous year.

At around 12.52 PM, Bandhan Bank was trading 2.83% higher at Rs 218.35, against the previous close of Rs 212.35 on NSE. The counter touched an intraday high of Rs 218.45.

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