CSB Bank hits over 4-month high, stock rallies 24% in four days

CSB Bank, on Friday, announced the appointment of Pralay Mondal as president (retail, SME, operations and IT)

Shares of CSB Bank gained for the fourth straight day, up 10 per cent on Tuesday, to hit a four-month high of Rs 183 on the BSE. It was trading at its highest level since February 4, 2020.

The private sector lender's stock has rallied 24 per cent in the past four trading days after the bank, on Friday, announced the appointment of Pralay Mondal as president (retail, SME, operations and IT). Mondal is expected to join the Bank in September 2020.

Pralay Mondal recently tendered his resignation from his current position as executive director & head of retail banking in Axis Bank.

The veteran banker has around 30 years of banking experience across multiple business and functions, including retail assets, retail liabilities, business banking, products and technology. Before joining Axis Bank, Mondal was the Senior Group President and Head of Retail and Business Banking at Yes Bank.

Meanwhile, the Kerala-based CSB Bank (formerly known as Catholic Syrian Bank) had debuted in the stock market on December 4, 2019.

At 11:08 am, CSB Bank was trading 6.6 per cent higher at Rs 178.45 on the BSE, as compared to 0.5 per cent gain in the S&P BSE Sensex. Around 350,000 equity shares have changed hands on the counter on the NSE and BSE so far.