Total business Rs. 2.60 crore level, 20%increase of
- Total deposits annually 25% increased to Rs. 1.35 lakh crores
- The share of total deposits from retail is approx 70%
- CASA ratio 37%above the
- Total loan book on an annual basis 14% increased to Rs. 1.25 lakh crore
Kolkata, 17 May, 2024: Bandhan Bank has announced the results for the last quarter of the financial year 2023-24. The total business of the bank increased by 20% to Rs. 2.60 lakh crores. The bank's share of total deposits from retail is currently around 70%. The encouraging growth experienced in the previous quarter was attributed to distribution, business efficiency and favorable operating environment.
During the fourth quarter, the bank opened 50 branches across the country. The bank now serves over 3.35 crore customers through 6,300 banking centers in India. The total number of employees working at Bandhan Bank is around 76,000.
Bank deposits increased by 25% during Q4FY24 compared to the same period last year. At present the total deposit book is Rs. 1.35 lakh crore, while the total advances are Rs. 1.25 lakh crores. The current account to savings account (CASA) ratio is above 37% of the overall deposit book. Capital Adequacy Ratio (CAR) is an indicator of bank's soundness, which is much higher than the regulatory requirement of 18.3%.
Speaking on the performance of the bank, MD and CEO Chandra Shekhar Ghosh said, “The last quarter of the previous year is a testament to the momentum in the business we have achieved. We have shown stability and growth in major factors. The bank is also strengthening its key leadership in the quarter. Bandhan Bank has been built on the unwavering commitment of its employees and the reason for its success is the trustworthiness of our customers. These important aspects and tech, A focus on people and processes will drive the rise of Bank 2.0. “
The bank has continued its focus on asset diversification with a clear intention to grow the retail book. The Bank intends to focus more on higher productivity and efficiency. Which will result in an overall increase in customer experience.
