Bandhan Bank grows stronger – now has 2.03 crore customers

• Total deposits grew 35.30%YoY to Rs.60610 crore
• Loan book grew 17.68% YoY to Rs.74331 crore
• CASA growth stood at 47.30% YoY
• Operating profit grew by 16.81% YoY

Kolkata : Bandhan Bank todayannounced 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.1,34,941crores. 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 4,559banking outlets through which it serves 2.03 crore customers. The total number of employees working at Bandhan Bank stands at 41563.

The Bank’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.

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.

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