Bandhan Bank appoints Ratan Kumar Kesh as interim MD & CEO

The appointment of an interim MD & CEO came after the bank announced the retirement of Chandra Shekhar Ghosh from his role as MD & CEO. His tenure will be completed on July 9, 2024.

Kesh’s appointment was necessitated by Ghosh’s announcement in April this year that he would retire. The retirement was announced even after the bank had in November 2023 said that he would continue for another three years.

The Reserve Bank of India and Bandhan Bank have had several run-ins over the past few years, with the central bank putting restrictions on its expansion and on Ghosh’s remuneration. As the founder, Ghosh was responsible for transforming Bandhan Bank from a microfinance-focused NGO to a large financial institution.

Kesh has been the executive director and chief operating officer (COO) of Bandhan Bank since March 31, 2023. He has over three decades of experience across various industries. He leads multiple functions at Bandhan Bank including technology, operations, customer experience, transformation, internal audit, recovery, and other support functions.

The bank reported that Kesh has been at the forefront of the IT transformation of the bank, and has played a crucial role in optimising the processes, controls, customer services, and business excellence at the bank.

Kesh has previously worked with several banks such as ICICI Bank, HDFC Bank, and Axis Bank. During his stint at HDFC Bank, he was one of the first in the industry to introduce a Service Quality Framework and Service CRM. He also played an important role in Axis Bank’s technology transformation.

Shares of the company have declined by nearly 17% since the beginning of the year. The stock has lost over 11% in the last one year.