CSB Bank’s board has cleared the reappointment of Pralay Mondal as managing director and chief executive officer for another three years. The fresh term will begin on September 15, 2025, and run through to September 14, 2028.
The decision was taken at a board meeting held on June 24, based on recommendations from the bank’s Nomination and Remuneration Committee. The bank clarified that Mondal has no ties to any board member or senior management and is not barred by any regulatory agency from continuing in the post.
Mondal, who has been associated with CSB Bank since 2020, took over as interim MD and CEO in April 2022 and was later confirmed in the role. Before that, he served as president overseeing retail, SME, operations, and IT. His elevation to Deputy MD happened in February 2022.
With previous leadership stints at Axis Bank, YES Bank, HDFC Bank, and Standard Chartered Bank, Mondal brings a long resume of private sector banking experience. In earlier phases of his career, he also worked outside banking – at Wipro InfoTech and Colgate Palmolive.
In a previous interview, he had reportedly said the bank was growing at a pace 30–50% ahead of the broader industry, and there seems to be confidence within the institution that this could continue.
Financially, the bank ended the January–March quarter with a 25% year-on-year jump in net profit to ₹190 crore. A spike in other income – which more than doubled to ₹381.5 crore – helped drive the gain. However, net interest income dipped 3.9% from the previous year to ₹371 crore, suggesting some margin pressure.
Asset quality stayed mostly stable. Gross NPAs came in at 1.57%, only marginally lower than 1.58% in the previous quarter. Net NPA levels improved to 0.52% from 0.64%, offering a positive sign on credit risk.
Following the board's decision, CSB Bank shares edged higher. At 2:15 PM on June 24, the stock was trading at ₹396.40 on the NSE, up 2.93% from the previous close.