Bandhan Bank, one of India’s leading financial institutions, is set to undergo a significant leadership transition as its Managing Director and Chief Executive Officer, Chandra Shekhar Ghosh, announces his retirement upon the completion of his current tenure on July 9, 2024. Ghosh, the Bank’s first MD & CEO, has served three consecutive terms and played a pivotal role in its remarkable journey from a microcredit NGO to a full-fledged universal bank.
Founded by Ghosh in 2001 as an NGO extending microcredit to rural women in West Bengal, Bandhan evolved into a Non-Banking Financial Company (NBFC) before obtaining universal bank status in 2015. Under Ghosh’s leadership, the bank has witnessed significant growth, currently serving over 3.50 crore customers across 35 states and union territories.In a recent disclosure, Bandhan Bank revealed robust financial performance for the fiscal year 2023-24, with deposits exceeding Rs. 1.35 lakh crore, marking a 25% year-on-year increase, and advances growing nearly 18% to Rs. 1.29 lakh crore. With more than 75,000 employees, the bank stands as a significant player in India’s banking landscape.
Expressing his sentiments on the development, Ghosh stated, “This has not been an easy decision…Bandhan Bank is in a very strong position with capable leaders to take the momentum forward.” He further added that he would pursue a strategic role at Bandhan Financial Holding post-retirement, offering guidance and advice as needed.
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