Private sector lender Bandhan Bank on Tuesday said its chief financial officer Sunil Samdani has resigned. Samdani, CFO and key managerial personnel (KMP) of the bank, has decided to explore professional opportunities outside the bank and resigned on July 3, the Kolkata-based lender said in a stock exchange filing.
“…his last working day as the CFO and KMP of the bank would be September 30. The bank is in the process of identifying a suitable candidate for the office of CFO and KMP…,” the filing said.
As the KMP of the bank, Samdani spearheads the functions of finance, investor relations and business intelligence. In his resignation letter, Samdani wrote he was leaving “to take up another opportunity”. “As per the terms of appointment, I will serve my notice period of three months. Please be assured that I will ensure seamless transition and do everything possible to ease the transition process,” he wrote.
Samdani has been associated with Bandhan Bank since it received the banking licence and started operations in 2015.
In his experience of over 23 years in financial services, he has handled multiple roles within the finance and strategy functions. Prior to joining Bandhan Bank as CFO, Samdani was the head of business analytics and strategy at Development Credit Bank and CFO at Karvy Financial Services.
Bandhan Bank on Tuesday said its advances grew 6.7% year-on-year at Rs1.03 trillion for the first quarter this fiscal. On a quarter-on-quarter basis, advances, however, fell 5.5% for the period. Total deposits grew 16.6% at Rs 1.08 trillion during the quarter. On a quarter-on-quarter basis, deposits rose 0.4% for the period.
The lender’s collection efficiency (excluding NPA) for the EEB (emerging entrepreneurs business) segment improved to 98% as on June 30, 2023 from 94% as on June 3, 2022.
The bank said numbers mentioned, as on June 30 were provisional unaudited numbers and were subject to review/examination by its audit committee and board of directors.