Shares of Bandhan Bank shares fell more than 9 percent on Monday after the private sector lender said its founder, managing director and CEO Chandra Shekhar Ghosh has decided to step down after his tenure ends.
The stock was down 9 percent at Rs 179.55 on the BSE.
On the NSE, shares of the company fell 9.17 percent to Rs 179.25.
Ghosh will retire from the bank’s services as MD and CEO after completing his current tenure on July 9, 2024, the bank said in a regulatory filing on Friday.
“After leading the bank for almost a decade, including three consecutive terms (9 years) as MD & CEO, I feel now is the time for me to take on a larger strategic role at the Bandhan Group shares level,” Ghosh said in the letter. addressed to the board of directors.
As per RBI guidelines, tenure of MD and CEO of private banks should not exceed 15 years.
Bandhan Bank shares was launched on 23 August 2015 with 501 branches and 50 ATMs spread across 24 states.
It is the first ever microfinance institution to become a universal bank from the Eastern region.
In 2018, Bandhan Bank shares was successfully listed on the stock exchanges. Gruh Finance was acquired in 2019 with the aim of providing home buyers with a more affordable banking solution.
Shares of Bandhan Bank shares fell more than 9 percent on Monday after the private sector lender said its founder, managing director and CEO Chandra Shekhar Ghosh has decided to step down after his tenure ends.
The stock was down 9 percent at Rs 179.55 on the BSE.
On the NSE, shares of the company fell 9.17 percent to Rs 179.25.
Ghosh will retire from the bank’s services as MD and CEO after completing his current tenure on July 9, 2024, the bank said in a regulatory filing on Friday.
“After leading the bank for almost a decade, including three consecutive terms (9 years) as MD & CEO, I feel now is the time for me to take on a larger strategic role at the Bandhan Group shares level,” Ghosh said in the letter. addressed to the board of directors.
As per RBI guidelines, tenure of MD and CEO of private banks should not exceed 15 years.
Bandhan Bank shares was launched on 23 August 2015 with 501 branches and 50 ATMs spread across 24 states.
It is the first ever microfinance institution to become a universal bank from the Eastern region.
In 2018, Bandhan Bank shares was successfully listed on the stock exchanges. Gruh Finance was acquired in 2019 with the aim of providing home buyers with a more affordable banking solution.
Shares of Bandhan Bank shares fell more than 9 percent on Monday after the private sector lender said its founder, managing director and CEO Chandra Shekhar Ghosh has decided to step down after his tenure ends.
The stock was down 9 percent at Rs 179.55 on the BSE.
On the NSE, shares of the company fell 9.17 percent to Rs 179.25.
Ghosh will retire from the bank’s services as MD and CEO after completing his current tenure on July 9, 2024, the bank said in a regulatory filing on Friday.
“After leading the bank for almost a decade, including three consecutive terms (9 years) as MD & CEO, I feel now is the time for me to take on a larger strategic role at the Bandhan Group shares level,” Ghosh said in the letter. addressed to the board of directors.
As per RBI guidelines, tenure of MD and CEO of private banks should not exceed 15 years.
Bandhan Bank shares was launched on 23 August 2015 with 501 branches and 50 ATMs spread across 24 states.
It is the first ever microfinance institution to become a universal bank from the Eastern region.
In 2018, Bandhan Bank shares was successfully listed on the stock exchanges. Gruh Finance was acquired in 2019 with the aim of providing home buyers with a more affordable banking solution.
