August 11, 2022

Bandhan Bank Registers strong business growth in Q1FY23

Staff Reporter –

Bandhan Bank, today announced its financial results for the first quarter of financial year 2022-23. The Bank continued to witness strong business growth, as the economy revived strongly.

The Bank’s total business (deposits and advances) grew 20.3% year-on-year to reach around Rs. 1,89,707 crore as on June 30, 2022. The Bank serves 2.69 crore customers through 5640 banking outlets across 34 of the 36 states and union territories in India. The total number of employees working at Bandhan Bank stands at 61,247.

During the first quarter of the current financial year, the Bank’s deposit book grew 20% over the corresponding quarter of the previous year. The total deposits now stand at Rs. 93,057 crore. In this period, the Bank’s retail deposit book showed a substantial growth and grew 14.14% year-on-year to Rs. 72,950crore. The current account and savings account (CASA) book grew by 21% year-on-year, and the CASA ratio now stands at 43.2% of the overall deposit book. With respect to advances, the bank saw 20.3% growth over the corresponding quarter of the previous year. The total advances are now at Rs. 96,650 crore.

Capital Adequacy Ratio (CAR), an indication of the stability of the Bank, is at 19.4%, much higher than the regulatory requirement.

Bandhan Bank is planning to open more than 500 new branches across India, in this financial year. The Bank is also growing its portfolio in areas like SME Loans, Gold Loans, Personal Loans and Auto Loans among other product ranges.

Speaking on the results, Chandra Shekhar Ghosh, MD & CEO, said, “It has been a good first quarter for the Bank as we registered strong year-on-year growth. While we expand our distribution and also the product suite, we are fully equipped to serve the banking needs of Indians across the nation. We have been fortunate to earn the trust of crores of Indians and will continue to serve them.”

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