RBI Approves Partha Pratim Sengupta as New Managing Director and CEO of Bandhan Bank

The Reserve Bank of India has approved Partha Pratim Sengupta's appointment as the Managing Director and Chief Executive Officer of Bandhan Bank. His tenure will last three years, starting no later than November 10, 2024. This decision was communicated in a letter dated October 8, 2024. Sengupta accepted the role on October 9, 2024, confirming his compliance with the terms by October 10, 2024.

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Currently, Ratan Kesh is serving as the interim MD and CEO after Chandra Sekhar Ghosh stepped down on July 9. Sengupta will replace Ghosh, who was the founder MD and CEO of Bandhan Bank. Sengupta brings over four decades of experience to the role, having retired as MD and CEO of Indian Overseas Bank.

Bandhan Bank's Journey and Expansion

Bandhan Bank began its journey on August 23, 2015, with an initial setup of 501 branches and 50 ATMs across 24 states. This followed the Reserve Bank's in-principle approval on April 2, 2014, allowing it to establish a universal bank. It holds the distinction of being the first microfinance institution from the eastern region to transition into a universal bank.

In 2018, Bandhan Bank made its debut on the stock exchanges. The following year, it acquired Gruh Finance to enhance its offerings for homebuyers. This acquisition aimed to provide more affordable banking solutions in the housing sector.

Sengupta's Extensive Banking Experience

Sengupta's career includes significant roles at State Bank of India (SBI), where he advanced to Deputy Managing Director and Chief Credit Officer. Between 2016 and 2018, he served as Chief General Manager for SBI's Kolkata Circle. This role covered West Bengal, Sikkim, and the Andaman and Nicobar Islands.

His experience spans both retail and corporate banking across various regions. His leadership at Indian Overseas Bank further solidified his expertise in managing large banking operations.

Bandhan Bank continues to evolve under new leadership while maintaining its commitment to providing accessible banking services. With Sengupta at the helm, the bank aims to strengthen its position in the financial sector.