Bandhan Bank Shows Strong Growth in Loans and Deposits

Bandhan Bank, the universal bank with inclusive banking at its core, today announced its financial results for the third quarter of financial year 2020-21. The Bank’s total business (deposits and advances) grew 26% year-on-year to reach Rs.1.51 lakh crore. The Bank, which completed five years of operations in August 2020, serves 2.25 crore customers through 5,197 banking units and branches. The total number of employees working at Bandhan Bank stands at 47,260. With the country gradually unlocking its economy, the Bank’s deposit book grew 30% over the corresponding quarter of the previous year. The total deposits now stand at Rs. 71,188 crore.
The current account + savings account (CASA) book grew by 62% year-on-year, and the CASA ratio now stands at 43% of the overall deposit book. With respect to advances, the bank saw 23% growth over the corresponding quarter of the previous year. The total advances are now at Rs. 80,255 crore. Capital Adequacy Ratio (CAR), an indication of the stability of the Bank, is at 26.2%, much higher than the required level.
Speaking on the results, Chandra Shekhar Ghosh, MD & CEO, said, “As the severity of the pandemic subsides and the economy gradually comes back on track, we have seen a healthy rise in both deposits and advances for the third quarter of FY21. We continue to enjoy the trust and confidence of our customers and are committed to serving them through a diverse range of product offerings and banking channels going forward.”

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