Fri Oct 11 15:31:54 UTC 2024: ## Bandhan Bank Shares Surge on New CEO Appointment
**Kolkata, India -** Bandhan Bank shares soared on Friday, October 11, following the approval of Partha Pratim Sengupta as the bank’s new Managing Director and CEO. The appointment, effective no later than November 10, saw the stock jump by 11.6% on both the BSE and NSE exchanges.
Sengupta, a veteran banker with over 40 years of experience, replaces interim CEO Ratan Kesh, who took over from founder Chandra Sekhar Ghosh in July.
Sengupta’s extensive experience includes roles at State Bank of India (SBI), where he served as Deputy Managing Director and Chief Credit Officer. He also served as Chief General Manager of SBI Kolkata Circle before retiring as Managing Director and CEO of Indian Overseas Bank (IOB).
The market reacted positively to the news, pushing Bandhan Bank shares into positive territory for the week and on track for a near 10% weekly gain. The stock has also seen a 13% rise in the past six months, slightly outperforming the Nifty50 index.
The appointment of Sengupta, with his strong track record in banking and finance, is seen as a positive development for Bandhan Bank, bolstering investor confidence in the future of the Kolkata-based lender.
First Piper 