Bandhan Bank appoints Rajeev Mantri as Chief Financial Officer
Bandhan Bank announced that its board has given the green light for the appointment of Rajeev Mantri as the Chief Financial Officer (CFO). With a rich background in banking and finance, Mantri's addition to Bandhan Bank aims to collaborate with the management team to propel the bank into its next phase of growth.
"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", Bandhan Bank said in an exchange filing. "Accordingly, Abhijit Ghosh ceases to be the Interim CFO and KMP of the Bank with effect from February 22, 2024 i.e. upon the appointment of Mantri as CFO & KMP", it added.
Nevertheless, Ghosh will retain his position as the head of finance and accounts, remaining an integral part of the bank's senior management team. In his previous position, Mantri served as the CFO of the Citi India cluster for three years. With an extensive career spanning over 25 years in banking and finance across India, Singapore, and the UAE, Mantri brings valuable expertise, having spent a significant portion of his career with renowned global banks like Standard Chartered and Citi.
He is a Chartered Accountant certified by ICAI India and has earned an Executive MBA from INSEAD Business School in Singapore. As of February 9, Bandhan Bank announced a more than twofold increase in net profit, reaching Rs 733 crore for the third quarter ending December 2023, attributed to enhancements in core income. The bank's total income rose to Rs 5,210 crore in the most recent December quarter, up from Rs 4,840.94 crore the previous year. Additionally, interest income saw improvement, reaching Rs 4,665 crore compared to Rs 3,808 crore in the third quarter of the preceding fiscal year.