Srinagar-Amitava Chatterjee on Monday took over as the Managing Director and Chief Executive Officer of Jammu and Kashmir Bank.
Chatterjee took over from Baldev Prakash after the latter’s three-year term came to an end.
With an experience of 34 years in the industry, Chatterjee said he would focus on continuing the growth story of the J&K bank.
In a formal function held at the Bank’s corporate headquarters, Amitava Chatterjee – a seasoned banker with over three decades of experience at State Bank of India (SBI) – was welcomed by the outgoing MD & CEO Baldev Prakash along with Bank’s Executive Director Sudhir Gupta and top management functionaries.
After taking charge, MD & CEO Amitava Chatterjee expressed his gratitude and enthusiasm. “I feel honoured to have this opportunity to lead J&K Bank – an institution with a rich legacy of trust and excellence. I look forward to working with the talented team to build upon the strong foundation laid by my predecessor, Baldev Prakash, and to drive the Bank’s vision of financial empowerment with sustainable growth and innovation.”
“My focus will be on continuing the good work done by the Jammu and Kashmir Bank for the past few years. There is always room for growth and that’s what we will be looking at,” Chatterjee said.
He has also served as Deputy MD of State Bank of India and MD of SBI Caps – a wholly-owned investment banking subsidiary of SBI.
He said as the core customer base of the bank is in Jammu, Kashmir and Ladakh regions, the focus will be on improving the services to the customers in this region.
“However, we will also explore opportunities in the rest of the country as part of the growth story,” he added.
Another focus, Chatterjee added, will be on making more effective use of technology to improve operations.
“The bank has shown that it can effectively address the NPAs as it has reduced it from 10 per cent to below four per cent. We will work towards reducing it further,” he added.
On a one-time settlement scheme for reducing non-performing assets, Chatterjee said, “If it has been done in the past, it cannot be ruled out in future.”
Earlier, welcoming Amitava Chatterjee, the outgoing MD & CEO Baldev Prakash expressed confidence in the new leadership saying, “I am delighted to pass the baton to Amitava Chatterjee, whose caliber and experience match well with the requisites of this position. His extensive knowledge and proven track record in the banking sector, I believe, will further strengthen this institution and propel it to greater heights.”
On the occasion, the Bank also organized a farewell for Baldev Prakash, who served the Bank as its first MD & CEO since December – 2021 and has led the significant transformation of the Bank.
In his farewell message, Baldev Prakash said, “Serving this great institution has been an extraordinary honour and I sincerely thank all our stakeholders – especially the entire J&K Bank family, our esteemed promoters and the Board of Directors —for their unwavering trust, support and guidance. As a team, we have transformed the Bank into a thriving, resilient and future-ready institution.”
The Bank’s management and staff extended heartfelt gratitude to Baldev Prakash for his outstanding contributions and wished him success in his future endeavours. They also expressed confidence in the new MD & CEO Amitava Chatterjee’s leadership to steer the Bank towards its next phase of growth and excellence.
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