Bandhan Bank appointed former CEO of HDFC Sales, Santosh Nair, as the Head of Consumer Lending and Mortgages on Thursday, February 1.
Bandhan Bank’s Shantanu Sengupta will step down from the post of Head, Retail Banking, the bank announced. However, he will assist the bank in a smooth transition and will leave the organisation in early FY2024–25 to pursue opportunities outside the bank.
Chandra Shekhar Ghosh, MD and CEO of Bandhan Bank, expects Nair to be a key contributor to the company’s agenda of strengthening the secured book and diversifying the asset book of the private sector bank.
Ghosh said, “Santosh is a highly experienced professional with expertise in mortgage and retail lending. The bank has been focused on strengthening its secured book and diversifying its asset book, and Santosh, with his varied and proven experience, will be a key contributor to this agenda. On behalf of everyone at Bandhan Bank, I welcome Santosh."
Earlier, Santosh Nair was the CEO of HDFC Sales and also worked at HDFC and HDFC Bank in his three decades of experience in the industry.
In the Kolkata-based bank's Q3 FY2024 results released on first week of January 2024, Bandhan Bank witnessed an 18.6% year-on-year (YoY) and 7.7% quarter-on-quarter (QoQ) rise in its loan portfolio for the third quarter of FY24. This figure includes on-book, off-book, targeted longer-term refinancing operations (TLTRO), and pass-through certificate (PTC) components, with a reduction in non-performing asset (NPA) portfolio after a sale to an asset reconstruction company (ARC) amounting to ₹720 crore.
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