CSB Bank’s shares shoot by 19% as Pralay Mondal appointed retail, operations Chief
Private lender CSB Bank’s shares rose by 19.5% (Rs 179.90 apiece) on Friday – the biggest-ever single-day gain since listing – after it was announced that Pralay Mondal will be appointed as Retail, Small and Medium Enterprise (SME), Operations and IT President. Mondal is expected to take over the post in September 2020.
CSB Bank CEO VR Rajendran said: "We are delighted and excited with the appointment of Mr. Mondal as President (Retail, SME, Operations and IT) and look forward to his playing a key leadership role at the bank. Mr. Mondal is a proven trailblazer who brings strong commercial banking expertise and experience to CSB Bank. He has an excellent track record of having built retail and SME businesses, while maintaining healthy portfolio quality and service levels. I am confident that we have selected the choicest person for CSB Bank and that he will drive strong and healthy business growth in the years ahead".
Mondal recently tendered his resignation as Executive Director and Head of Retail Banking at Axis Bank and has over 30 years of experience in the banking industry. He has worked in various capacities including retail assets, retail liabilities, business banking, products, and technology. He has also worked on prominent positions with Yes Bank and the HDFC.