CS Ghosh Retires as Bandhan Bank MD & CEO

Kolkata, Apr 5 (PTI) Bandhan Bank on Friday said its MD and CEO Chandra Shekhar Ghosh will retire on July 9 from the services of the lender upon completion of his current tenure and will play a larger role in the group.

Ghosh in a letter to the board of directors said he will assume a larger strategic role in the Bandhan group.

In the letter, Ghosh said, "I am neither an economist, nor a banker, but a pure NGO worker. I learnt a lot while working on the ground, especially relating to the bottom of the pyramid."

According to Ghosh, these learnings helped him understand the real situation of underprivileged people.

"Hence with this objective of helping the deprived and underprivileged....I decided to do something on my own and quit a stable job", he said in the letter.

Ghosh said he had set up Bandhan as an NGO in 2001, and later Bandhan Financial Services Limited (BFSL) was formed to carry out microfinance activities.

He said Bandhan was fortunate to get a bank licence from the RBI in April 2014, following which the bank was launched in August 2015 within a span of 18 months of getting the licence.

The bank started functioning with 501 branches and 50 ATMs, he said in the letter.

"After leading the bank for almost a decade, including three consecutive terms as MD & CEO, I feel that time has come for me to assume a larger strategic role at the Bandhan group level," he said.

"I have decided to retire from the services of Bandhan Bank at the end of my current tenure which falls on July 9, 2024," Ghosh said.

The CEO said he was grateful to the board for continued support and advice over the years which has been a great source of strength.