Bandhan Bank Appoints Ratan Kesh as Interim MD, CEO

On Saturday, the board of Bandhan Bank, a private sector lender, authorized the appointment of Ratan Kumar Kesh as the temporary Managing Director and Chief Executive Officer of the bank, starting from July 10.

The current Managing Director and Chief Executive Officer, Chandra Shekhar Ghosh, is scheduled to retire on July 9th.

Ratan Kumar Kesh, who will be taking on the position of Interim Managing Director and Chief Executive Officer, has held the capacity of Executive Director and Chief Operating Officer of the bank from March 31, 2023. Previously, he was employed at Axis Bank.

Chandra Shekhar Ghosh, aged 63, is the individual who established the bank. The bank commenced its operations as a universal bank on 23 August 2015, after being granted a universal banking license by the Reserve Bank of India, making it the first microfinance institution in India to receive such a license.

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Ghosh expressed in his letter to the board his desire to take on a more significant strategic position at the Bandhan group level following his resignation from the bank.

Ghosh established Bandhan Bank in 2001 as a non-governmental organization (NGO) with the aim of achieving two goals: empowering women and reducing poverty. In 2006, Bandhan purchased a Non-Banking Finance Company (NBFC) and rebranded it as Bandhan Financial Services (BFSL), thereby establishing it as the largest microfinance institution in the nation by 2010.

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