Bandhan Bank has been going through a difficult period. It was under pressure as it has largely been operating in the microfinance space and with an infrastructure that consisted of a network of around 6300 banking outlets catering to some 34 million customers across 35 states and union territories. In fact, microfinance lending constituted nearly 33% of its loan portfolio. Its NPAs had soared, warranting regulatory scrutiny. There were several disappointing quarterly results. In addition, it had encountered what analysts call geographic concentration risk as a major portion of its loans were in West Bengal and Assam and these regions had a fair amount of natural calamities. Further, Bandhan Bank faced competition from small finance banks. Even traditional banks gave it a tough time as they into microfinance.
Adding to these challenges was the decision of the bank’s founder and MD & CEO Chandra Shekhar Ghosh to demit office in July this year and the appointment of an interim CEO - Ratan Kumar Kesh - who was one of the EDs of the bank - to temporarily hold fort.
A COMEBACK
This scenario seems to have suddenly changed and now analysts are looking at the bank with a renewed vigour, for there is a positive step from the RBI. It has given approved the appointment of Partha Pratim Sengupta as the MD & CEO of the bank for 3 years to succeed Chandra Shekhar Ghosh, thereby ending an impasse. A banking veteran having experience in almost all segments of the industry, he was a DMD and Chief Credit Officer in SBI and also MD & CEO of Indian Overseas Bank. He will be taking charge in early November.
هذه القصة مأخوذة من طبعة November 2024 من Banking Frontiers.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة November 2024 من Banking Frontiers.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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