MUMBAI: Private sector lender Bandhan Bank, the first MF microlender to become a commercial bank, on Friday said its founder, managing director and chief executive Chandra Shekhar Ghosh has tendered his resignation.
Ghosh will leave the bank, started as an NGO and then as a microfinancier in 2009 and as bank since 2014, as its managing director and chief executive on completion of his current tenure on July 9, 2024, the bank said in an exchange filing.
"After leading the bank for almost a decade, including three consecutive tenures as MD & CEO, I feel that the time has now come for me to assume a larger strategic role at Bandhan group level," Ghosh said in a letter addressed to the board.
He said post retirement he will assume a larger strategic role at Bandhan group level.
With the objective of helping the deprived and underbanked section of society, especially women, he started the NGO 23 years ago and in 2009, he registered Bandhan as a non-banking finance company and come 2014, it became the first microfinance lender to receive a banking licence.
Bandhan had on Thursday said its loans and advances crossed Rs 1.28 trillion at the end of March 2024, up 17.8 percent on-year from Rs 1.09 trillion in March 2023.