Fairfax-controlled CSB Bank Ltd has announced that its board has appointed Pralay Mondal as the company’s president for retail, SME, operations and IT.
“Mondal is the right person to help redefine customer experience and the brand promise at the bank and to contribute significantly to the overall growth of the organization, especially in the retail and SME segments,” CSB Bank said in a regulatory filing.
Mondal, who is is expected to join the bank in September 2020, has recently tendered his resignation from his current position as executive director and head of retail banking at Axis Bank.
An engineer from IIT-Kharagpur and a management graduate from IIM-Calcutta, Mondal had joined Axis Bank in April 2019 after heading retail at Yes Bank.
Of his 30 years in banking, Mondal has spent 12 years at HDFC Bank and before that he was associated with Standard Chartered Bank, Wipro InfoTech and Colgate Palmolive.
The Kerala-based lender, earlier known as Catholic Syrian Bank, is controlled by India-born Canadian billionaire Prem Watsa’s Fairfax Financial Holdings. The investment firm had acquired a 51% stake in CSB in 2018.
“Mondal is a proven trailblazer who brings strong commercial banking expertise and experience to the bank. He has an excellent track record of having built retail and SME businesses while maintaining healthy portfolio quality and service levels,” C.V.R. Rajendran, MD and CEO at CSB Bank, said.
The bank is confident that it has selected the choicest person and that Mondal will drive strong and healthy business growth in the years ahead, he said.
