Bandhan Bank shares surge 9% after RBI approves appointment of MD & CEO

Bandhan Bank shares: Shares of Bandhan Bank rose as much as 9.13 per cent on the BSE to hit an intraday high of Rs 204.90 after the company informed exchanges that the Reserve Bank of India has approved appointment of managing director and chief executive officer.

The RBI approved appointment of Partha Pratim Sengupta as managing director and chief executive officer of the Bank, Bandhan Bank said in an exchange filing.

"The Bank has received the acceptance of Mr. Sengupta on October 09, 2024 and subsequent confirmation on October 10, 2024 that he will step down from his other engagements in compliance with the terms and conditions of the prior approval for the proposed appointment as MD&CEO of the Bank. The brief profile of Mr. Sengupta is enclosed," Bandhan Bank said.

Sengupta is an experienced banker, who has nearly four decades of experience in the banking industry. He has worked in different geographies, across both retail and corporate banking. He has been groomed at State Bank of India ( SBI ), where he rose to the role of Deputy Managing Director and Chief Credit Officer of the Bank, Bandhan Bank said.

Sengupta is a resilient and outcome oriented leader who has demonstrated consistent achievement of goals. In both his stints, at SBI and at IOB, he has leveraged technology and innovation for achieving business results, Bandhan Bank added.

As of 10:11 am, Bandhan Bank shares traded 8.66 per cent higher at Rs 204, outperforming the Sensex which was trading on a flat note.