Bandhan Bank Appoints SBI’s Sanjeev Naryani As Head Of Business
Sanjeev Naryani will lead Bandhan Bank’s branch and wholesale banking, agribusiness, retail lending and digital banking verticals.
Bandhan Bank Ltd., which reported a net profit of Rs 701 crore in the June quarter of 2019-20, has appointed State Bank of India's Sanjeev Naryani as its head of business.
At SBI, where he worked for 32 years, Naryani was handling the lender’s real estate and housing business as a general manager. At Bandhan Bank, he will lead the private lender’s branch banking, wholesale banking, agri-business, retail lending, third-party products and digital banking verticals.
Bandhan Bank witnessed a “very good” deposit growth in Q1, its Managing Director and Chief Executive Officer Chandra Shekhar Ghosh told BloombergQuint in a post-Q1 results conversation earlier. This growth can be attributed to the bank’s strong presence in the rural and semi-urban areas, Ghosh said.
Ghosh said the bank has fully provided for its exposure in Infrastructure Leasing & Financial Services in the March quarter. The lender’s gross non-performing assets declined to 2.02 percent from 2.04 percent in the previous quarter. Excluding its IL&FS exposure, the gross NPAs stood at 1.1 percent, he said.
On Monday, Bandhan Bank shares fell 5 percent to Rs 501.15 apiece on the BSE while the benchmark Sensex shed 0.80 percent to end the day at 38,031.13 points.