Chandra Shekhar Ghosh, the CEO and Managing Director of Bandhan Bank Ltd., has announced his decision to step down from his position. As per a recent exchange filing, Ghosh will no longer be in the role of CEO and MD after his service ends in the month of July, this year.
In a recent report, Ghosh mentioned that his decision to step down from the position was voluntary. He highlighted that this choice is entirely of his own accord, "I think this is the right time that I need to decide to hand over the position to the new management team," Ghosh stated while speaking to ET now.
At 9:30 am, the shares of the banking firm were trading at Rs. 184.70 price level, down by more than 6 per cent on the NSE.
In recent years, Bandhan Bank has grown significantly, serving a large community of over 3 crore borrowers and depositors, alongside a team of more than 75,000 employees. As of March 31, the bank has deposits worth Rs 1.35 lakh crore and advances worth Rs 1.28 lakh crore.
“After leading the bank for almost a decade, including three consecutive tenures as MD and 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 and CEO, i.e. on July 9,” Ghosh said in a regulatory filing.
