Bandhan Bank deposits grew 35.30% YoY to Rs.60,610cr

Bandhan Bank deposits grew 35.30% YoY to Rs.60,610cr

Kolkata: Private sector lender Bandhan Bank on Wednesday announced the results of the first quarter of financial year 2020 – 21. The Bank’s total business grew 24.99% year-on-year to reach Rs.1,34,941 crores. The Bank started operations in FY15-16 and will complete five years of operations in August this year. In just 5 years, the Bank has 4,559 banking outlets through which it serves 2.03 crore customers. The total number of employees working at Bandhan Bank stands at 41563.

The Kolkata-headquartered lender‘s deposit book grew 35.30% over the corresponding quarter of the previous year. The total deposits now stand at Rs.60,610 crore. The current account + savings account (CASA) book grew by 47.30% year-on-year to Rs. 22,473 crore and CASA ratio now stands at 37.08% of the overall deposit book. On the advance book, the bank saw 17.68% growth over the corresponding quarter of the previous year. The total advances are now at Rs.74,331 crore. The net NPA of the Bank stands at 0.48%, signifying a quality loan book.

Chandra Shekhar Ghosh, MD & CEO, said, “The country was under lockdown throughout the quarter. Our branches were functional even during this period while observing all directives of government and local authorities. We ensured seamless service for our customers in these testing times.”

He said, “With the results of the quarter, the resilient character of Bandhan Bank has once again been established. We are thankful to our customers, well-wishers and all other stakeholders for continuing to repose their trust in us.”

Capital Adequacy Ratio (CAR), an indication of the stability of the Bank, is at 27.29%, including profits, much higher than the norm of 10.875%. The Bank’s net profit stood at Rs.550 crores, which 6.38% higher than the previous quarter.

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