Bandhan Bank has announced that its total business has surged past the Rs. 2.5 lakh crore mark, marking a significant 20% growth. The bank’s financial results for the final quarter of the fiscal year 2023-24 reflect a robust performance, underlining its steady expansion and strong foothold in the market.
The latest figures reveal a notable increase in total deposits, which have soared by 25% year-on-year to reach Rs. 1.35 lakh crore. Notably, the share of retail deposits in the total deposit portfolio now stands at an impressive 70%, showcasing the bank’s appeal to individual customers.Bandhan Bank’s focus on enhancing its loan book has also yielded positive results, with total advances reaching Rs. 1.25 lakh crore, marking a 14% year-on-year growth.
Furthermore, the current account and savings account (CASA) ratio stands at over 37%, underlining the bank’s stable funding base.Chandra Shekhar Ghosh, MD & CEO of Bandhan Bank, expressed confidence in the bank’s performance, attributing the success to its dedicated employees and loyal customer base. Ghosh emphasized the bank’s commitment to leveraging technology and enhancing processes to drive growth in the evolving banking landscape.With a strategic emphasis on asset diversification and digitization, Bandhan Bank aims to further bolster its retail portfolio while enhancing productivity and customer experience. The bank’s expansion efforts, coupled with its strong financial fundamentals, position it for sustained growth and resilience in the competitive banking sector.
