Bandhan Bank, the universal bank with inclusive banking at its core, today announced its financial results for the third quarter of financial year 2021-22. The Bank continued to witness strong business growth, as the economy revived strongly.
The Bank’s total business (deposits and advances) grew 15% year-on-year to reach Rs. 1.73 lakh crore as on December 31, 2021. The Bank, in its sixth year of operations, serves 2.51 crore customers through 5626 banking outlets across 34 of the 36 states and union territories in India. The total number of employees working at Bandhan Bank stands at 55,341.
During the third quarter of the current financial year, the Bank’s deposit book grew 19% over the corresponding quarter of the previous year. The total deposits now stand at Rs. 84,500 crore. The current account and savings account (CASA) book grew by 26% year-on-year, and the CASA ratio now stands at over 45% of the overall deposit book. In this period, the Bank’s retail deposit book showed substantial growth, growing 24% year-on-year to Rs. 71,440 crore. With respect to advances, the bank saw 11% growth over the corresponding quarter of the previous year. The total advances are now at Rs. 89,213 crore.
Capital Adequacy Ratio (CAR), an indication of the stability of the Bank, is at 20%, much higher than the regulatory requirement.
To cater to its customers across the country, Bandhan Bank is focussed on diversifying its presence across India and also growing its product portfolio in areas like SME Loans, Gold Loans, Personal Loans and Auto Loans.
Speaking on the results, Chandra Shekhar Ghosh, MD & CEO, said, “After a challenging period, the Indian economy has shown strong signs of growth in Q3FY22. Our Bank’s customer-centric approach and investments in people, processes and technology has helped us report significant business growth in this period. We thank our customers for their continued trust and support, which has made Bandhan Bank a preferred banking partner for millions of Indians.”