Bandhan Bank share price zooms after RBI clears Partha Pratim Sengupta appointment as CEO for 3 years
Bandhan Bank (BANDHANBNK) Share Price News: Bandhan Bank shares skyrocketed on Friday after the Reserve Bank of India approved the appointment of Partha Pratim Sengupta as MD and CEO for 3 years. At noon, the Bandhan Bank stock was holding on firmly to the green with a gain of more than 10 per cent on BSE. Bandhan Bank shares were on course to finish the week on a positive note.
Bandhan Bank Share Price News: Bandhan Bank shares—traded with the symbol BANDHANBNK on exchanges BSE and NSE—were in high demand on Friday, October 11, after the banking regulator gave the nod to the appointment of Partha Pratim Sengupta as its Managing Director and CEO for three years. Sengupta will be taking over from interim MD and CEO Ratan Kesh no later than November 10. Kesh took the helm from founder MD and CEO Chandra Sekhar Ghosh in July.
Bandhan Bank (BANDHANBNK) shares—which were part of the Nifty Bank until the recent rejig—jumped by as much as Rs 21.8, or 11.6 per cent, to Rs 209.5 apiece each on BSE and NSE.
At around noon, the stock was holding on firmly to the green with a gain of 10.7 per cent at Rs 207.9.
On Wednesday, Bandhan Bank received Sengupta's acceptance and his subsequent confirmation the next day 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 and CEO of the Kolkata-based lender.
Who is Partha Pratim Sengupta, the new Bandhan Bank CEO?
A veteran banker with more than four decades of experience, Sengupta retired as Managing Director and CEO of PSU lender Indian Overseas Bank (IOB).
Sengupta has worked in different geographies, across retail as well as corporate banking.
He has been groomed at State Bank of India (SBI), where he rose to the role 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, which included the states of West Bengal and Sikkim, as well as the Andaman and Nicobar Islands.
In 2018, he was elevated to Deputy Managing Director and Chief Credit Officer at SBI.
Bandhan Bank Stock Price Today
Friday's spike instantly turned the stock positive for the week, on track to register a weekly gain of almost 10 per cent.
Bandhan Bank shares have grown about 13 per cent in six months, slightly better than an 11 per cent return recorded in the headline Nifty50 index.
Catch all the latest stock market updates here. For all other news stories in buzzing categories like technology, automobiles and personal finance, and much more, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.