Bandhan Bank, a prominent Indian banking and financial services company, has announced that its Managing Director & Chief Executive Officer (MD & CEO), Chandra Shekhar Ghosh, will be retiring from his position upon the completion of his tenure on July 9, 2024. Ghosh, a founding figure of Bandhan Bank and a long-standing advocate for financial inclusion in India, has accumulated more than three decades of experience in the microfinance and development sectors.
In a regulatory filing on April 5, 2024, Ghosh expressed his decision to step down from his role as the MD & CEO of Bandhan Bank, emphasizing his desire to take on a broader strategic role within the Bandhan group. He reflected on the bank's remarkable growth under his leadership, noting that the bank has amassed Rs. 1.35 lakh crore in deposits and Rs. 1.28 lakh crore in advances as of March 31, 2024. Additionally, Ghosh highlighted the bank's extensive reach, with a family of over 3 crore borrowers and depositors, and a workforce of over 75,000 employees.
Ghosh expressed his gratitude towards the employees and customers of Bandhan Bank, crediting them with the bank's success. He also expressed confidence in the bank's leadership team, many of whom he has worked with since the bank's inception. He assured that, even after his retirement, he will be available for any advice or assistance the bank may require.
Ghosh's departure marks the end of an era for Bandhan Bank, as he has been instrumental in the bank's growth and development since its establishment. The bank's board has been informed of his decision, and the process to identify a suitable successor is underway.
As the news of Ghosh's retirement broke, shares of Bandhan Bank closed at Rs 197.40 apiece, a minor decrease of 0.35 percent on the Bombay Stock Exchange. The financial sector and the broader public will be watching closely as the bank prepares to transition to new leadership, eager to see how it will continue to grow and innovate in the years to come.