Bandhan Bank, the universal bank with inclusive banking at its core, today announced its financial results for the second quarter of financial year 2021-22. The Bank continued to witness business growth, as the challenging economic situation gradually eases.
The Bank’s total business (deposits and advances) grew 15% year-on-year to reach Rs. 1.64 lakh crore as on September 30, 2021. The Bank, in its sixth year of operations, serves 2.43 crore customers through 5,618 banking outlets. The total number of employees working at Bandhan Bank stands at 52, 976.
During the second quarter of the current financial year, the Bank’s deposit book grew 24% over the corresponding quarter of the previous year. The total deposits now stand at Rs. 81,898 crore. The current account and savings account (CASA) book grew by 45% year-on-year, and the CASA ratio now stands at close to 45% of the overall deposit book. In this period, the Bank’s retail deposit book showed substantial growth, growing 35% year-on-year to Rs. 68,787 crore. The share of retail to total deposits now stands at 84%, showing the granular nature of the deposits with the Bank.
With respect to advances, the bank saw 6.6% growth over the corresponding quarter of the previous year. The total advances are now at Rs. 81.661. Capital Adequacy Ratio (CAR), an indication of the stability of the Bank, is at 20.4%, much higher than the regulatory requirement.
As part of its next stage of growth, Bandhan Bank wants to become an institution catering to the diverse financial needs of all Indians: whatever products and services they may need, wherever they may be based, and whichever medium of transaction they may prefer – physical or digital.
The bank is investing substantially in this transformation, the benefits of which will be visible in the years to come. It is growing its portfolio of products in areas such as SME Loans, Gold Loans, Personal Loans and Auto Loans. The branch network in areas outside the East and Northeast is also being expanded to bring world-class banking services to more Indians across the country. The Bank is also implementing a technology infrastructure that will help customers enjoy seamless and secure banking services.
Speaking on the results, Chandra Shekhar Ghosh, MD & CEO, said, “The Bank has seen significant growth in business during Q2FY22. We are privileged to enjoy the continued trust of our esteemed customers. I thank them for their continued support, which has made Bandhan Bank a preferred banking partner for millions of Indians.”