Bandhan Bank reported a strong Q2 financial performance, with an 80% growth in retail loan book, bolstering its portfolio diversification strategy. The bank’s retail to total deposits ratio now stands at 74%, and total business reached nearly Rs.2.20 lakh crore.
The growth was attributed to expansion in distribution and favorable operating conditions. Bandhan Bank expanded its presence to Ladakh’s union territory, Leh, marking its 35th entry into 36 states and union territories. The bank opened 80 branches in Q3, serving over 3.17 crore customers through 6,200 outlets in India, with over 74,000 employees.
The Bank’s deposit book grew 12.8% in Q2 FY24, reaching Rs.1.12 lakh crore. The current account and savings account ratio is 38.5%, with total advances at Rs.1.08 lakh crores. The Bank’s Capital Adequacy Ratio is 19.2%, exceeding regulatory requirements. Chandra Shekhar Ghosh, MD & CEO, said, “With all the new business lines initiated over the last few quarters and technology transformation undertaken by the bank, we are confident of a good run in the rest of this financial year.”
