Bandhan Bank CFO Rajeev Mantri resigns, to step down in September

Bandhan Bank on Monday said its chief financial officer (CFO) and key managerial personnel (KMP) Rajeev Mantri has resigned to pursue another opportunity from a career growth perspective, with his last working day scheduled for September 25.

In a stock exchange filing, the private sector lender said Mantri tendered his resignation on June 29 and will continue in the role until September 25 in line with the bank's policies.

In his resignation letter addressed to managing director and CEO Partha Pratim Sengupta, Mantri said, "I am tendering my resignation today from Bandhan Bank as Executive President and Chief Financial Officer, to pursue another opportunity from career growth perspective."

He added, "I have enjoyed working at Bandhan Bank and contributing towards the strategic transformation of the bank. I will be leaving with enriching experience and learning during my tenure here."

Veteran finance executive

Mantri joined Bandhan Bank in February 2024 after serving as chief financial officer at Citi India. He previously held the CFO position at TransUnion CIBIL and spent over eight years at Standard Chartered Bank in senior finance roles across India and Singapore, covering retail, commercial and corporate banking businesses. Earlier in his career, he worked with Mashreqbank in the UAE.

A chartered accountant by qualification, Mantri also holds an Executive MBA from INSEAD Business School, Singapore.

Latest in a series of CFO exits

Mantri's resignation comes amid a string of finance leadership changes across India's banking and financial services sector.

Earlier on Monday, Axis Bank announced the resignation of chief financial officer Puneet Sharma, who will step down on August 31 after serving the lender for more than six years. Sharma said he was leaving to pursue the next phase of his professional journey.

Last week, Life Insurance Corporation of India (LIC) said its chief financial officer Sunil Agrawal had resigned to pursue better professional opportunities after more than four years in the role. Agrawal was the insurer's first lateral hire as finance chief and played a key role in preparing LIC for its landmark initial public offering.

Separately, HDFC Bank is also preparing for a finance leadership transition, with its long-serving chief financial officer Srinivasan Vaidyanathan set to retire later this year after reaching the bank's retirement age, with the lender initiating succession planning for the role.

Bandhan Bank has not announced a successor to Mantri. The lender also did not disclose his next destination, stating only that he is leaving to pursue another career opportunity.