 "J&K Bank shares jump 7% after Amitava Chatterjee appointed as MD & CEO")
Jammu & Kashmir Bank shares jumped 7.4 per cent in Thursday's trade, logging an intraday high at Rs 105.44 per share on BSE. The stock gained after the bank's board appointed Amitava Chatterjee as managing director and chief executive officer of the bank for a period of 3 years to be effective from December 30, 2024.
Around 11:32 AM, J&K Bank shares were up 4.82 per cent at Rs 102.85 per share on BSE. In comparison, the BSE Sensex was up 0.07 per cent at 78,528.01. The market capitalisation of the company stood at Rs 11,325.66 crore. The 52-week high of the stock stood at Rs 152.45 per share and the 52-week low stood at Rs 88.20 per share.
"Government of Jammu and Kashmir have appointed Mr. Amitava Chatterjee as Government Nominee Director on the Board of Directors of the Bank in place of Mr. Baldev Prakash w.e.f December 30, 2024," the filing read.
Who is Amitava Chatterjee?
Amitava Chatterjee is presently deputy managing director at State bank of India (SBI) and has also served as MD & CEO of SBICAPS. Chatterjee has an illustrious career in banking spanning over more than three decades in diverse geographical locations and strategic positions. His diverse experience includes heading the SBI’s operation as CGM New Delhi, circle and Jaipur Circle with high end clientele like PSUs, NBFCs, and DISCOMs. He has shouldered responsibilities that included Business Development, Risk & Compliance Management, HR Functions with his previous employer besides interacting and participating in various Industry and Government forums.
He has completed his Master’s in Business Administration from ICFAI University Hyderabad besides having qualified the CAIIB offered by IIBF. Beyond his professional pursuits, he is a passionate sports enthusiast and follows tennis, football and cricket.
Also Read
J&K Bank is a prominent regional bank in India, headquartered in Srinagar, Jammu and Kashmir. Established in 1938, it operates as a universal bank in Jammu and Kashmir and a specialised bank in the rest of India. The bank is known for its strong presence in the northern region, particularly in the Union Territories of Jammu & Kashmir and Ladakh.
In the past one year, J&K Bank share price has lost 21.7 per cent against Sensex's rise of 10 per cent.