Fri Oct 11 15:11:35 UTC 2024: ## Bandhan Bank Shares Soar After CEO Appointment, Business Growth

**Kolkata, India – October 11, 2024:** Shares of Bandhan Bank surged by 9.5% on Friday, reaching an intra-day high of Rs 205.65, following the Reserve Bank of India’s (RBI) approval of Partha Pratim Sengupta as the bank’s Managing Director and Chief Executive Officer (MD & CEO). The approval is effective for three years, starting on or before November 10, 2024.

The bank confirmed that Sengupta has accepted the appointment and will step down from his other commitments to comply with the terms of the appointment.

This positive news coincides with robust business growth for Bandhan Bank. The private lender reported a 24.6% increase in total business in the second quarter of the current financial year, reaching Rs 2,73,163 crore compared to Rs 2,19,712 crore in the same period last year.

During the quarter, the bank’s loan and advance portfolio stood at Rs 1,30,652 crore, while deposits reached Rs 1.42 lakh crore. The bank’s collection efficiency across all its business verticals in Q2 FY25 was recorded at 98.2%, slightly lower than the previous quarter’s 98.7%.

The stock performance reflects investor confidence in the bank’s future under Sengupta’s leadership and strong business growth. While the stock has seen a 17% decline in the past year, it has rebounded significantly in the past six months, with a 13% gain.

**In other news:** Ratan Naval Tata, the iconic chairman of the Tata Group, passed away at the age of 87, leaving a legacy of global leadership and mentorship. Tata led the group to remarkable growth, overseeing key acquisitions such as Jaguar, Land Rover, and Tetley. He was also known for his philanthropic work, especially his support for the families of victims of the Mumbai terror attacks.

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