Ratan Kumar Kesh Appointed Interim MD & CEO of Bandhan Bank

Bandhan Bank's board has approved the appointment of Ratan Kumar Kesh as interim MD and CEO, effective from July 10. He succeeds founder Chandra Shekhar Ghosh, who exits after leading the bank since its inception in 2015. The appointment is pending shareholder approval.

Bandhan Bank's board has approved the appointment of Ratan Kumar Kesh as interim Managing Director (MD) and Chief Executive Officer (CEO) starting from July 10, following the exit of founder MD and CEO Chandra Shekhar Ghosh. The appointment will last for three months or until a new leader is appointed, whichever is earlier, the bank revealed in a regulatory filing.

The announcement comes after approval from the Reserve Bank of India (RBI) and a recommendation from the bank's Nomination and Remuneration Committee. Kesh's role as Interim MD and CEO is subject to the approval of the bank's shareholders.

Ghosh, who has led the bank since it was established in August 2015, announced his exit on April 5. Bandhan Bank, which started with 501 branches and 50 ATMs across 24 states, became the first microfinance institution from the eastern region to transition into a universal bank. Notably, the bank was listed on the stock market in 2018 and acquired Gruh Finance in 2019 to offer more affordable banking solutions to home buyers.

(With inputs from agencies.)