Bandhan Bank board approves reappointment of Chandra Shekhar Ghosh as MD & CEO

Bandhan Bank MD Chandra Shekhar Ghosh

Bandhan Bank's board has approved the reappointment of Chandra Shekhar Ghosh as the Managing Director & Chief Executive Officer (MD&CEO) of the Kolkata-based bank for a period of three years.

The private sector lender in its regulatory filing said that the current tenure of Ghosh as the MD & CEO of the Bank would be expiring on July 09, 2024, and in terms of the regulatory provisions, application 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," the bank's statement said.

Ghosh has more than three decades of experience in microfinance, banking, and development terrain.

Private sector lender Bandhan Bank on October 18 reported a net profit of Rs 721.20 crore in the July–September quarter of the current financial year, up 244 percent YoY, from Rs 209.3 crore in the corresponding period last year.

The bank's gross non-performing asset (GNPA) in the reporting quarter increased by 14.8 percent YoY. In absolute terms, gross NPA was at Rs 7,874 crore crore in the July-September quarter, as compared to Rs 6,854 crore in a year ago period. In the previous quarter, gross NPA stood at Rs 6,961 crore.
Net NPA ratio of the bank stood at 40 percent YoY in July-September. The net NPA in the reporting quarter was at Rs 2,366 crore, as against Rs 1,679 crore in a similar period last year.

Net Interest Income (NCII) stood at Rs 2,443.40 crore. And, the total income for the quarter increased to Rs 5,032 crore, up from Rs 4,250 crore during the same period last year.