CSB Bank jumped 4.86% to Rs 240.35 after the bank appointed Pralay Mondal as its managing director (MD) & chief executive officer (CEO) for a period of three years with effect from 15 September 2022.
Pralay Mondal was the deputy managing director of the bank since 17 February 2022 and appointed as the interim managing director & CEO with effect from 1 April 2022, in the absence of a regular managing director & CEO in the bank.Prior to joining CSB Bank, Mondal was executive director & head of retail banking at Axis Bank. He has around 30 years of banking experience across multiple businesses and functions including retail assets, retail liabilities, business banking, products and technology. He is an engineer from IIT, Kharagpur and a management graduate from IIM, Calcutta.
CSB Bank is an old private sector bank with a history of over 101 years and operating out of 603 branches. The business is concentrated in Kerala (approximately 50% branches) with remaining spread mainly across Tamil Nadu, Karnataka, and Maharashtra.
CSB Bank reported a net profit of Rs 114.52 crore in Q1 FY23 as against a net profit of Rs 61 crore in Q1 FY22. Total income rose by 4.3% YoY to Rs 590.78 crore in Q1 FY23.
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