Bandhan Bank MD and CEO Chandrashekhar Ghosh will resign in July

New Delhi: On April 5, Bandhan Bank said that its Managing Director and Chief Executive Officer Chandra Shekhar Ghosh will retire from his position after the completion of his current term on July 09, 2024.

Ghosh has been one of the leading advocates of financial inclusion in India and has over 30 years of experience in the microfinance and development sectors. In November 2023, the bank's board had re-appointed him as MD and CEO for a three-year term.

The 65-year-old Ghosh said, "After leading the bank for nearly a decade, including three consecutive terms as MD and CEO, I now feel it is time for me to play a larger strategic role at the Bandhan Group level. Therefore, I have decided to retire from the services of Bandhan Bank as MD and CEO upon the completion of my current term, that is, on July 09, 2024," Ghosh said in his resignation letter, which is enclosed in the regulatory filing.

"Despite the challenges, over the last nearly 9 years, Bandhan Bank has mobilized deposits of Rs 1.35 lakh crore and had advances of Rs 1.28 lakh crore as on March 31, 2024. Year-on-year growth has been impressive," he said.

"The bank family has over 3 crore borrowers and depositors and more than 75,000 employees. I am indebted to each one of them who reposed faith and trust in the bank under my leadership," Chandra Shekhar said.

Chandra Shekhar further said, "I am happy to have left behind a strong franchise in the capable hands of a leadership team, many of whom have partnered with me in building the institution brick by brick, sharing the same vision and values. Bandhan Bank will always occupy a special place in my heart, and I shall be available to the bank for any assistance or advice."

Chandra Shekhar Ghosh to step down as Bandhan Bank's MD and CEO after term ends in July

Bandhan Bank said on April 5 that its Managing Director and Chief Executive Officer Chandra Shekhar Ghosh will retire from his position upon the completion of his current term on July 09, 2024.

Ghosh, who is also a founder of Bandhan Bank, has been one of the leading advocates of financial inclusion in India. He has over 30 years of experience in the microfinance and development sectors.

Earlier, on November 24, 2023, the bank's board had approved the re-appointment of Chandra Shekhar Ghosh as MD and CEO of the bank for a three-year term.

"After leading the bank for nearly a decade, including three consecutive terms as MD and CEO, I feel it is now time for me to play a larger strategic role at the Bandhan Group level. Therefore, I have decided to retire from its services upon the completion of my current term as MD and CEO of Bandhan Bank, that is, on July 09, 2024," Ghosh said in his resignation letter enclosed in the regulatory filing.

He said, "Despite the challenges, over the last nearly 9 years, Bandhan Bank has mobilized deposits of Rs 1.35 lakh crore and had advances of Rs 1.28 lakh crore as on March 31, 2024. Year-on-year growth has been impressive."

Ghosh said, "The bank family has over 3 crore borrowers and depositors and more than 75,000 employees. I am indebted to each one of them who reposed faith and trust in the bank under my leadership."

"I am happy to have left behind a strong franchise in the capable hands of a leadership team, many of whom have partnered with me in building the institution brick by brick, sharing the same vision and values. Bandhan Bank will always occupy a special place in my heart, and I and my heart shall be available to the bank for any assistance or advice," he added.

Meanwhile, shares of Bandhan Bank closed 0.35 per cent lower at Rs 197.40 apiece on the BSE on April 5.