Bandhan Bank CEO Chandra Shekhar Ghosh To Step Down After Tenure
Ghosh feels that the time has now come for him to assume a larger strategic role at the Bandhan group level.
Bandhan Bank Ltd.'s Chandra Shekhar Ghosh will step down as the chief executive officer and managing director after his tenure ends.
Ghosh will cease to be the private sector bank's CEO and MD after the completion of his services on July 9, according to an exchange filing on Friday. He has been serving as its CEO and MD since July 10, 2015.
In a letter dated April 5 to the board of directors, Ghosh feels that the time has now come for him to assume a larger strategic role at the Bandhan group level after leading the bank for almost a decade, including three consecutive tenures as MD and CEO. "Hence, I have decided to retire from the services of Bandhan Bank at the end of my current tenure as MD & CEO," he said.
The lender became the first microfinance institution to become a universal bank In India, according to Ghosh.
In its current form, Bandhan Bank started operations in August 2015 with around 500 branches across 24 states after the RBI gave an in-principle approval to it in April 2014. It got listed on the bourses in 2018.
Under Ghosh's leadership, the bank has managed to have deposits worth Rs 1.35 lakh crore as of March 31 and advances worth Rs 1.28 lakh crore. It also boasts of an employee headcount of over 75,000.
