Bandhan Bank has been going through a difficult period. It was under pressure as it has largely been operating in the microfinance space and with an infrastructure that consisted of a network of around 6300 banking outlets catering to some 34 million customers across 35 states and union territories. In fact, microfinance lending constituted nearly 33% of its loan portfolio. Its NPAs had soared, warranting regulatory scrutiny. There were several disappointing quarterly results. In addition, it had encountered what analysts call geographic concentration risk as a major portion of its loans were in West Bengal and Assam and these regions had a fair amount of natural calamities. Further, Bandhan Bank faced competition from small finance banks. Even traditional banks gave it a tough time as they into microfinance.
Adding to these challenges was the decision of the bankâs founder and MD & CEO Chandra Shekhar Ghosh to demit office in July this year and the appointment of an interim CEO - Ratan Kumar Kesh - who was one of the EDs of the bank - to temporarily hold fort.
A COMEBACK
This scenario seems to have suddenly changed and now analysts are looking at the bank with a renewed vigour, for there is a positive step from the RBI. It has given approved the appointment of Partha Pratim Sengupta as the MD & CEO of the bank for 3 years to succeed Chandra Shekhar Ghosh, thereby ending an impasse. A banking veteran having experience in almost all segments of the industry, he was a DMD and Chief Credit Officer in SBI and also MD & CEO of Indian Overseas Bank. He will be taking charge in early November.
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