Money & Banking

Bandhan Bank sets up new vertical to serve unbanked customers

Our Bureau. Kolkata | Updated on September 16, 2020 Published on September 16, 2020

Bandhan Bank, which recently completed five years of operations as a bank, has set up a new vertical called Emerging Entrepreneurs Business (EEB) to support the emerging needs of the unbanked and underbanked segment of customers.

The vertical will focus on supporting this segment of customers in their journey to becoming entrepreneurs. In addition to micro loans, the vertical will also manage micro home loan, micro bazaar loan and micro enterprise loan, said a press statement issued by the bank.

The bank has further appointed Kumar Ashish as the Executive President and Head to spearhead EEB. Ashish has over 26 years of experience in setting up and managing businesses of significant scale in retail and business banking, rural banking, microfinance, agri banking and treasury.

Ashish spent about two decades at ICICI Bank, where in his last role, he was Senior General Manager & Retail Business Head for North India. During the long stint with ICICI Bank, he also led the rural, agri-business and microfinance portfolios for the bank.

In his last assignment prior to joining Bandhan Bank, Ashish was Group Director, Airtel Money, in Africa (a division of Airtel Africa), which runs mobile money operations across 14 countries in sub-Saharan Africa.

Ashish will be based out of Bandhan Bank’s headquarters in Kolkata and report to Chandra Shekhar Ghosh, Managing Director and Chief Executive Officer.

“At Bandhan Bank, the last five years have seen us build a strong foundation. We are committed to our next five-year strategic vision and are ready for the next phase of growth. In line with the capability requirements, the bank has been focussing on capacity building both through training and upskilling of existing employees and through lateral hiring,” Ghosh said in the release.

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Published on September 16, 2020
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