Bandhan Bank share price rises after RBI sacks Partha Pratim Sengupta as CEO for 3 years
Bandhan Bank Share Price News: Shares of Bandhan Bank—trading under the symbol BANDHANBNK on the BSE and NSE exchanges—were in high demand on Friday, October 11, after the banking regulator approved the appointment of Partha Pratim Sengupta as Managing Director and CEO for three years. Sengupta will take over from interim MD and CEO Ratan Kesh no later than November 10. Kesh took over from founding MD and CEO Chandra Sekhar Ghosh in July.
Shares of Bandhan Bank (BANDHANBNK)—which was part of Nifty Bank until the recent rejig—jumped by Rs 21.8, or 11.6 percent, to Rs 209.5 each on BSE and NSE.
Around noon, the stock was firmly in the green with a gain of 10.7 percent at Rs 207.9.
On Wednesday, Bandhan Bank accepted Sengupta’s acceptance and his subsequent confirmation the next day that he would withdraw from other negotiations in accordance with the terms and conditions of the pre-approval of the proposed appointment as MD and CEO of the Kolkata-based lender.
Who is Partha Pratim Sengupta, the new CEO of Bandhan Bank?
A banking veteran with over four decades of experience, Sengupta retired as Managing Director and CEO of PSU lender Indian Overseas Bank (IOB).
Sengupta has worked in different areas, across retail and corporate banking.
He trained at State Bank of India (SBI), where he rose to the position of Deputy Managing Director and Chief Credit Officer, according to Bandhan Bank.
Between 2016 and 2018, Sengupta served as Chief General Manager, SBI Kolkata Circle, covering the states of West Bengal and Sikkim, and Andaman and Nicobar Islands.
In 2018, he was promoted to Deputy Managing Director and Chief Credit Officer at State Bank of India.
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