Bandhan Bank stock price up by more than 3% today

22 Mar 2023 , 02:25 AM

Bandhan Bank recently announced that it has received binding bids for two separate portfolios. One portfolio, which was written- off and worth Rs 2,614.03 crore, received bids of Rs 369.20 crore. The other portfolio consisted of non-performing assets (NPA) originating from banking units worth Rs 2,316.32 crore and received bids of Rs 370.62 crore.

Bandhan Bank has also announced the appointment of Ratan Kumar Kesh as Executive Director (ED) in a statement released on March 22. The statement confirms that the appointment has been approved by the Reserve Bank of India (RBI).

 Bandhan Bank is trading 3.90% higher at Rs210.70, against the previous close of Rs202.80 on NSE. The counter touched an intraday high and low of Rs211.60 and Rs204 respectively.

After considering the recommendation of the Nomination and Remuneration Committee (NRC), Ratan Kumar Kesh was selected as a suitable candidate for the position of Executive Director (ED).

The appointment was then submitted to the Reserve Bank of India (RBI) for approval. On March 21, during a meeting of Bandhan Bank’s Board of Directors, Kesh was appointed as a Whole-time Director (Additional Director) of the Bank and given the title of ED.

According to the statement, Ratan Kumar Kesh’s appointment as a Key Managerial Personnel of the Bank will be effective from March 31, 2023, and will be valid for a period of three years, subject to approval from shareholders.

With over 28 years of experience in the Banking and Finance, Manufacturing, and Services sectors, 52-year-old Ratan Kumar Kesh is a seasoned professional. 

The loans will be transferred to an asset reconstruction company based on the consideration of security receipts.

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