Chandra Shekhar Ghosh to step down as MD and CEO of Bandhan Bank after tenure ends in July
'After leading the Bank for almost a decade including three consecutive tenure as MD & CEO, I feel that the time has now come for me to assume a larger strategic role at Bandhan group level,' Ghosh said in his retirement letter attached in the regulatory filing.
April 29, 2024 / 08:21 PM IST
Ghosh built Bandhan Bank from a microfinance company to a full-fledged bank over decades
Bandhan Bank on April 5 said that the lender's Managing Director & Chief Executive Officer Chandra Shekhar Ghosh will retire from the post after completion of his current tenure on July 09, 2024.
Ghosh, who is also the founder of Bandhan Bank, has been one of the foremost proponents of financial inclusion in India. He has more than 30 years of experience in the microfinance and development terrain.
Earlier, on November 24, 2023, the board of bank, approved the reappointment of Chandra Shekhar Ghosh as the MD & CEO of the bank for a period of three years.
"After leading the Bank for almost a decade including three consecutive tenure as MD & CEO, I feel that the time has now come for me to assume a larger strategic role at Bandhan group level. Hence, I have decided to retire from the services of Bandhan Bank at the end of my current tenure as MD & CEO, i.e. on July 09, 2024," Ghosh said in his retirement letter attached in the regulatory filing.
"Notwithstanding the challenges, in almost 9 years, Bandhan Bank has garnered Rs. 1.35 lakh crore as deposits and advances stand at Rs. 1.28 lakh crore as on March 31, 2024. Year-on-year growth has been impressive," he added.
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"The Bank's family has over 3 crore borrowers and depositors and over 75000 employees now. I am indebted to each one of them who have reposed faith and trust in the Bank under my leadership, " mentioned Ghosh.
"I feel happy to leave behind a strong franchise in the hands of a capable leadership team, many of whom have partnered me in building the organization, brick by brick, sharing the same vision and values. Bandhan Bank will always enjoy a special place in my heart, and I will always be available for any help or advice the Bank may need, he added.
Meanwhile, shares of Bandhan bank on April 5 closed 0.35 percent lower at Rs 197.40 apiece on BSE.
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