On July 14, Kolkata-based Bandhan Bank Ltd. announced the appointment of Kamal Batra as the lender company’s Executive President and Head-Assets.
According to the Economic Times (ET), Bandhan Bank has reorganized its core management responsibilities to strengthen its focus on retail lending as the lender is aiming at diversifying the business to decrease its unsecured microfinance portfolio dependence.
As Executive President and Head-Assets, Batra’s responsibilities include the growth of Bank’s Commercial Banking, (consisting of Small and Medium-Sized Enterprises (SME) lending as well as Non Banking Financial Institution (NBFC) lending), Business and Retail Assets (consisting of gold, personal, auto loans among others) portfolios.
The Managing Director (MD) and CEO of Bandhan Bank, Chandra Shekhar Ghosh, said he was pleased to welcome Batra to the bank and wished him best for his new position. “Commercial Banking and other Retail Assets are key pillars of growth for the Bank and I hope Kamal’s leadership will enable the creation of a diversified and high-quality assets franchise”, he continued.
Additionally, the MD told ET that the objective behind the distribution of portfolios is to give a push to retail lending plan.
Around 60 per cent of Bandhan Bank’s portfolio comprises of microfinance and lately, has displayed higher stress amidst the COVID-19 pandemic, especially in the states of Assam and West Bengal.