J&K Bank shares rise 7% after appointment of Amitava Chatterjee as MD & CEO

Srinagar, Dec 26: The Jammu and Kashmir Bank Ltd. has seen 7.4 percent hike in Thursday’s trade, logging an intraday high at Rs 105.44 per share on BSE.

The stock gained after the bank’s board appointed Amitava Chatterjee as Managing Director and Chief Executive Officer of the bank for a period of 3 years to be effective from December 30, 2024.

Around 11:32 AM, J&K Bank shares were up 4.82 per cent at Rs 102.85 per share on BSE. In comparison, the BSE Sensex was up 0.07 per cent at 78,528.01. The market capitalisation of the company stood at Rs 11,325.66 crore. The 52-week high of the stock stood at Rs 152.45 per share and the 52-week low stood at Rs 88.20 per share, reported Business Standard.

On December 24, 2024 the Reserve Bank of India (RBI) appointed Mr. Amitava Chatterjee as MD and CEO of Jammu and Kashmir Bank Ltd, replacing Mr. Baldev Prakash w.e.f. December 30, 2024.

Amitava Chatterjee is presently Deputy Managing Director at State bank of India (SBI) and has also served as MD & CEO of SBICAPS. Chatterjee has an illustrious career in banking spanning over more than three decades in diverse geographical locations and strategic positions.

He headed SBI’s operation as CGM New Delhi and Jaipur Circles, with high end clientele like PSUs, NBFCUs and DISCOMs. He has shouldered responsibilities which included Business Development, Risk & Compliance Management, HR Functions with his previous employer besides interacting and participating in various Industry and Government forums.

He has completed his Master’s in Business Administration from ICFAI University Hyderabad besides having qualified the CAIIB offered by IIBF. Beyond his professional pursuits, he is a passionate sports enthusiast and follows tennis, football and cricket.