Bandhan Bank announced its financial results for the third quarter of the financial year 2023-24. The bank’s total business grew by17%, to stand at Rs.2.33 lakh crore. The Bank’s share of retail to total deposits now stands at 72%. The encouraging growth witnessed in the quarter has been driven by its expansion in distribution and the favorable operating environment.
Bandhan Bank opened 26 branches in India, serving over 3.26 crore customers through 6,250 banking outlets, with over 75,000 employees. The bank’s deposit book grew by 15% during the quarters. The total deposit book stands at Rs.1.17lakh crore while total advances are at Rs.1.16 lakh crore.
The current account and savings account ratio is 36.1% of the overall deposit book, and the bank’s Capital Adequacy Ratio (CAR) is 19.8%, higher than regulatory requirements. Chandra Shekhar Ghosh, MD & CEO, said, “We will also continue to actively evaluate distribution expansion opportunities to reach out to a larger population across the nation.” The bank is expanding its portfolio in various product ranges, including SME Loans, Gold Loans, Personal Loans, and Auto Loans, and has recently launched new verticals like Commercial Vehicle lending and Loan Against Property for businesses.
