A press conference was organized to announce the financial results of Bandhan Bank for the first quarter of the financial year 2023-24.

Gracing the event was Sunil Samdani, CFO, Bandhan Bank,  Chandra Shekhar Ghosh, MD & CEO, Bandhan Bank, and Ratan Kesh, Executive Director, Bandhan Bank.

Some of the highlights of the financial results are:

• The bank’s retail loan book grew by 87%. The bank’s share of retail to total deposits is 71%. The bank has tripled its branch presence in less than 8 years.  The total business has grown to more than Rs. 2.11 lakh crore.
• The Bank’s total business (deposits and advances) grew 11% year-on-year to reach Rs.2.11 lakh crore as of March 31, 2023. The Bank serves more than 3.07 crore customers through more than 6140 banking outlets across 34 of the 36 states and union territories in India. The total number of employees working at Bandhan Bank is more than 72,000.
• During the final first quarter of FY24, the Bank’s deposit book grew by over 16%. The total deposit is Rs.1.08 lakh crore. The current account and savings account (CASA) ratio now stands at 36%. With respect to advances, the bank saw around 7% growth. The total advances are now at Rs.1.03 lakh crores. Capital Adequacy Ratio (CAR) is at 19.8%, much higher than the regulatory requirement.

The Bank keeps growing outside of its traditional East and North East areas. Along with other product categories, the Bank is expanding its portfolio in verticals including SME Loans, Gold Loans, Personal Loans, and Auto Loans. The Bank launched new business verticals last year, including lending for commercial vehicles and loans against property for companies, both of which will provide profits this fiscal year.

Priyanka Dutta