Bandhan Bank’s Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), Sunil Samdani, resigned on July 3 to “explore professional opportunities outside the bank”. His last working day as CFO and KMP of the bank would be September 30, 2023, the bank said in a notification to stock exchanges on Tuesday.
“The bank is in the process of identifying a suitable candidate for the office of CFO and KMP, and the said appointment would be informed to the stock exchanges in due course,” Bandhan Bank said in the notification.
Samdani has been associated with Bandhan Bank since it received the banking licence and commenced operations in 2015 and has been serving as its CFO ever since then.
“I wish to inform you with a heavy heart that I would like to tender my resignation today, on 3rd July, 2023, from the position of Executive President & CFO and as Key Managerial person (KMP) of Bandhan Bank Ltd to take up another opportunity. This has been the toughest decision of my career as I have built this institution from the start. It has been a challenging, enriching, and fulfilling experience which offered me phenomenal learning every single day,” he said in his resignation letter uploaded on BSE.
Business growth
Bandhan Bank has witnessed a 200 basis points improvement in collection efficiency (excluding non-performing assets) at 98 per cent during the quarter that ended June 30, 2023, as compared with 96 per cent same period last year.
Collection efficiency under the EEB (emerging entrepreneurs business) improved from 94 per cent in June 2022 to 98 per cent in June 2023, the bank said in its initial disclosures to the stock exchanges.
The numbers are provisional unaudited numbers and are subject to review by the audit committee and board of directors and are subject to limited review by the statutory auditors of the bank, it said.
Advances grew by seven per cent y-o-y at ₹1,03,169 crore as on June 30, 2023, as against ₹96,650 crore same period last year.
Total deposits grew by nearly 17 per cent at ₹1,08,479 crore during the quarter as against ₹93,057 crore same period last year. CASA deposits came down by nearly three per cent at ₹39,076 crore (40,195 crore). Bulk deposits grew by 55 per cent at ₹31,240 crore (₹20,107 crore).
The share of retail to total deposits also declined to 71.2 per cent (78.4 per cent) y-o-y while that of CASA came down to 36 per cent (43.2 per cent).
The bank’s scrip closed at ₹231.25, down by 1.78 per cent on the BSE on Tuesday.