Shares of private lender Bandhan Bank rose about 10% on Friday after India's central bank approved the appointment of its new CEO, which analysts said would ensure management stability.

Sengupta has four decades of experience in banking. He previously worked as deputy MD and chief credit officer at SBI and MD & CEO of Indian Overseas Bank

The Reserve Bank of India has appointed Partha Pratim Sengupta as the MD & CEO of Bandhan Bank for three years, from the date of taking charge, which should not be later than November 10, the lender has informed the stock exchanges.

India's central bank has approved the appointment of veteran banker Partha Pratim Sengupta as chief executive officer and managing director of Bandhan Bank , the private lender said in a filing on Thursday.

Bandhan Bank's shares surged over 12% following the Reserve Bank of India's approval of Partha Pratim Sengupta as the new MD and CEO. His tenure begins by November 2024, succeeding Chandra Sekhar Ghosh.

Bandhan Bank Ltd. on Thursday announced that it has received the nod from the Reserve Bank of India to appoint banking industry veteran Partha Sengupta as its next chief executive officer and managing director.

Thus far in the calendar year 2024, Bandhan Bank share price has underperformed the market by falling 17 per cent

Shares of Bandhan Bank rose as much as 9.13 per cent on the BSE to hit an intraday high of Rs 204.90 after the company informed exchanges that the Reserve Bank of India has approved appointment of managing director and chief executive officer.

Bandhan Bank shares rise 9.2% after the RBI approved Partha Pratim Sengupta as MD & CEO. Between 2016 and 2018, Mr Sengupta served as Chief General Manager, SBI Kolkata Circle.

MUMBAI: Bandhan Bank has appointed Partha Pratim Sengupta as MD and CEO, following approval from RBI. Sengupta will be taking over from interim CEO Ratan Kumar Kesh, who took charge after the bank's founder Chandra Shekhar Ghosh retired in July 2024.