Bandhan Bank CFO Rajeev Mantri Resigns Effective September 25

KOLKATA, INDIA — Private sector lender Bandhan Bank Limited (NSE: BANDHANBNK) announced on June 29, 2026, that its Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), Rajeev Mantri, has resigned from his position. According to formal regulatory filings, Mantri submitted his official resignation on Monday to pursue external opportunities for career growth.

In line with the bank's administrative policies, his final working day as head of the corporate finance division will be September 25, 2026. The announcement establishes a structured 90-day transition timeline designed to prevent operational disruptions during the upcoming quarterly reporting cycles.

Orderly Leadership Transition Following Profit Growth

The departure of Rajeev Mantri comes at a time of visible fiscal stabilization for the banking entity. Prior to this transition notice, Bandhan Bank reported strong growth metrics for the final quarter of the 2026 fiscal year, highlighting a 68% year-on-year surge in profit after tax (PAT) to 534 crore rupees ($\text{INR}$ 534 crore). The financial turnaround was further supported by sequential expansion in Net Interest Margins (NIM), which stabilized at 6.2% alongside decreasing overall credit costs.

The bank's executive board confirmed that the extended notice period running until late September will facilitate a comprehensive handover of financial responsibilities. The transition strategy is designed to protect active investor relations and maintain ongoing corporate reporting transparency under managing director and CEO Partha Pratim Sengupta.

Extensive Experience and Strategic Transformation Role

Rajeev Mantri joined Bandhan Bank in February 2024, bringing more than 25 years of extensive financial sector experience spanning global markets in India, Singapore, and the United Arab Emirates. Before stepping into the CFO position at Bandhan Bank, he served as the chief financial officer for Citi India. His earlier career highlights include executive finance leadership roles at TransUnion CIBIL, a 15-year tenure at Standard Chartered Bank, and senior functions at Mashreqbank.

During his time at Bandhan Bank, Mantri was actively involved in steering the lender through its post-IT infrastructure transformation and adjusting capital models to support a multi-year growth strategy. His resignation letter expressed gratitude to the board of directors and stakeholders, noting that he leaves after contributing directly to the strategic transformation of the bank.

Official Sources Section

According to formal statutory disclosures filed with the National Stock Exchange of India (NSE) and BSE Limited under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements (LODR), the bank has initiated a formal recruitment process. The bank's board of directors will review candidates through its nomination and remuneration committee to appoint a successor before the official departure date in late September.

Quote Section

"According to officials from the private sector lender's corporate secretarial division, the search for a new financial chief will focus on maintaining the bank's target of a 20% compound annual growth rate in assets under management. Management stated that all daily financial workflows, regulatory compliance reporting, and asset monitoring operations continue to run normally under standard oversight."

Why It Matters

For institutional investors, equity analysts, and retail bank depositors, an orderly change in top-tier executive leadership reduces the immediate market risks often associated with sudden executive departures. Because the transition is backed by stable net interest margins and improving asset quality metrics, the lender is navigating this transition from a position of relative financial health. A smooth transition ensures steady credit flows to micro-banking and corporate sectors without disrupting active business lines.

Key Facts at a Glance

• Resignation Announced: CFO Rajeev Mantri formally resigns to pursue external career opportunities.

• Effective Date: The official last working day is scheduled for September 25, 2026, providing a 90-day transition window.

• Financial Position: The leadership shift follows a strong Q4 FY26 performance with a 68% year-on-year increase in profit after tax.

• Next Steps: The board has started evaluating candidates to find a qualified replacement for the key managerial post.

FAQ Section

Why did Rajeev Mantri resign from Bandhan Bank?

According to official filings submitted to the stock exchanges, Mantri resigned voluntarily to pursue alternative professional opportunities for career growth.

Will this executive departure impact daily customer operations or accounts?

No. The resignation of a corporate executive is an internal administrative change. It has no impact on branch operations, customer savings accounts, fixed deposits, or digital banking facilities.

Has a successor been named to fill the vacant CFO position?

Not yet. The bank's leadership team has stated that they will announce a qualified successor in due course, utilization the three-month transition period to ensure a seamless handover.

Source: National Stock Exchange of India Corporate Announcements Portal, Bandhan Bank Investor Relations - Shareholder Disclosures, Securities and Exchange Board of India Filing Registry