Partha Pratim Sengupta likely to assume charge at Bandhan Bank on Nov 1
Partha Pratim Sengupta is likely to assume charge as managing director and chief executive officer of Bandhan Bank on November 1, ending four months of leadership gap at the Kolkata-based universal bank having a microfinance legacy.
The immediate challenges for Sengupta would be to address the asset quality stress the lender has been facing, especially on its microfinance portfolio, and to contain the higher operational expenses, according to banking experts.
A few formalities are yet to be completed, but he will most probably take charge on November 1, two people in the know said. «If not, he will definitely join within the first week of November,» said another bank official.
Announcing the Reserve Bank of India's approval for Sengupta's appointment, Bandhan Bank had on October 10 said that Sengupta would take charge no later than November 10.
RBI approved a three year term for the veteran banker from the date of his taking charge.
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