Bandhan Bank has announced the appointment of Rajeev Mantri as its Chief Financial Officer (CFO). The decision was approved by the bank’s board on Thursday, February 22, 2024. With a diverse background in banking and finance, Mantri is poised to bring valuable expertise to Bandhan Bank as it embarks on its next phase of growth.
In an official exchange filing, Bandhan Bank stated, ‘We wish to inform that the Board of the Bank, at its meeting held on Thursday, February 22, 2024, approved the appointment of Rajeev Mantri as the CFO and KMP (key managerial personnel) of the Bank, with effect from February 22, 2024.’ This appointment marks the transition as Abhijit Ghosh steps down from the role of Interim CFO and KMP.
Rajeev Mantri’s professional journey includes serving as the CFO of the Citi India cluster for the past three years. He brings over 25 years of extensive experience in banking and finance, having worked across India, Singapore, and the UAE. Notably, Mantri has held key positions in renowned global banks such as Standard Chartered and Citi.
A Chartered Accountant from ICAI India, Rajeev Mantri also holds an Executive MBA from the prestigious INSEAD Business School in Singapore. His appointment underscores Bandhan Bank’s commitment to harnessing top talent to drive financial strategies and sustainable growth.
Despite market challenges, Bandhan Bank recently reported a remarkable performance for the third quarter ending December 2023. The bank witnessed a significant rise in net profit, soaring to ₹733 crore, more than double the previous figures. This growth was attributed to improvements in core income and operational efficiencies.
The bank’s total income surged to ₹5,210 crore in the latest quarter, up from ₹4,840.94 crore the previous year. Additionally, interest income showed a notable increase, reaching ₹4,665 crore compared to ₹3,808 crore in the third quarter of the previous fiscal year.
Abhijit Ghosh, the outgoing Interim CFO and KMP, will continue to contribute to Bandhan Bank as the head of finance and accounts, remaining an integral part of the bank’s senior management team.
Rajeev Mantri’s appointment as CFO signals Bandhan Bank’s strategic focus on strengthening its financial leadership, capitalizing on market opportunities, and driving sustainable growth in the dynamic banking landscape.
