The decision was taken at a board meeting held earlier in the day, based on the recommendation of the Nomination and Remuneration Committee. The bank confirmed Mondal is not related to any director or key managerial personnel and has not been barred from holding directorship by any regulatory authority.
Mondal joined CSB Bank in September 2020 from Axis Bank, where he headed the retail banking division. He initially served as President – Retail, SME, Operations and IT, before being elevated to Deputy Managing Director in February 2022.
He took over as interim Managing Director and CEO in April 2022, later being confirmed in the role.
Mondal’s banking career spans several marquee institutions, with leadership roles at YES Bank, HDFC Bank and Standard Chartered Bank. He has also worked with Wipro InfoTech and Colgate Palmolive in earlier stages of his career.
Mondal has overseen a period of consistent growth at the bank. In an earlier interview with CNBCV18, he had said CSB Bank was growing 30–50% faster than the broader banking industry and expected this trend to continue in the upcoming quarters.
In the January–March quarter, the lender reported a 25% year-on-year increase in net profit to ₹190 crore, aided by a sharp jump in other income, which more than doubled to ₹381.5 crore. Net interest income, however, declined 3.9% year-on-year to ₹371 crore.
Asset quality remained largely steady, with gross non-performing assets (GNPAs) at 1.57%, marginally lower than 1.58% in the previous quarter. Net NPA improved to 0.52% from 0.64%.
At 2:15 PM, shares of CSB Bank were trading 2.93% higher at ₹396.40 on the NSE.
