Partha Pratim Sengupta has been appointed as Managing Director and Chief Executive Officer (CEO) of Bandhan Bank, whose market cap is Rs 30246 crore as of October 10. He will lead the bank for three years. Sengupta with over four decades of experience retired as MD and CEO of the state-owned Indian Overseas Bank (IOB).
Sengupta began his career at the State Bank of India (SBI), India's largest government bank, where he rose to the role of Deputy Managing Director and Chief Credit Officer of the bank. He has worked in different geographies, across both retail and corporate banking.
Sengupta replaces founder MD and CEO Chandra Sekhar Ghosh who stepped down on July 9. Currently, Ratan Kesh, one of the executive directors is serving as the interim MD and CEO. Sengupta's three-year tenure counts from the date of taking charge, which shall not be later than November 10, 2024, Bandhan Bank said in a regulatory filing.
READ | Who is Zarin Daruwala, Standard Chartered's India CEO set to retire in April 2025?
RBI vide its letter dated October 8, 2024 has granted its prior approval for the position, it said. The bank received the acceptance of Sengupta on October 9, 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 Kolkata-based lender, it said.
(With inputs from PTI)
