Pralay Mondal to join CSB Bank as head of retail biz

Pralay Mondal is all set to join small-sized private sector lender CSB Bank as the president of retail business, according to the lender.

The announcement has come days after Axis Bank informed exchanges about Mondal’s decision to quit as executive director (retail banking) after spending a year at the bank.

In a statement issued by Axis Bank on June 19, Mondal cited “personal compulsions” as reasons to quit.

Speculation was rife about Mondal joining a smaller private sector lender after the Axis Bank stint, which ends in September.

At CSB Bank, Mondal has been appointed as the president of retail, small and medium enterprises, operations and information technology.

CSB’s Managing Director and chief executive V R Rajendran said Mondal is a “proven trailblazer”who will bring along with him a strong commercial banking experience.

 “He has an excellent track record of having built retail and SME businesses, while maintaining healthy portfolio quality and service levels.  I am confident that we have selected the choicest person for CSB Bank and that he will drive strong and healthy business growth in the years ahead,” Rajendran said.

The bank statement said Mondal’s achievements include pioneering efforts in doorstep banking and direct sales, creating deep geography distribution, and building and scaling up retail businesses.

Apart from that he is also credited with building the capital market, wealth management, private banking, NBFC, credit cards, payments and digital businesses from the scratch, it added. Mondal had worked with HDFC Bank and Yes Bank earlier before joining Axis Bank in April 2019 after the appointment of Amitabh Chaudhry as the head of the bank.

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