The financial results for the last quarter of the fiscal year 2023–24 were released by Bandhan Bank. Gracing the occasion were Chandra Shekhar Ghosh, Rajinder Babbar, Ratan Kesh, and Rajeev Mantri.

The bank’s overall revenue reached Rs. 2.60 lakh crore at the end, up 20%. Currently, the Bank’s retail deposit share of total deposits is close to 70%. The positive operating environment, business efficiency, and distribution expansion have all contributed to the positive increase that was observed in the most recent quarter.

The Bank launched 50 branches nationwide during the fourth quarter. More than 3.35 crore consumers are served by Bank now through 6,300 banking locations in India. There are now approximately 76,000 workers at Bandhan Bank.

The Bank’s deposit book increased by 25% in Q4FY24 compared to the same quarter the year before. Currently, there are 1.25 lakh crore in total advances and 1.35 lakh crore in total deposit book. The ratio of current accounts to savings accounts (CASA) is currently more than 37% of the total deposit book. The bank’s stability is indicated by its Capital Adequacy Ratio (CAR), which is 18.3%—much greater than the legal minimum.

“The final quarter of the year is a testament to the momentum in business that we have gained. We have demonstrated growth and stability across the main criteria. Throughout the quarter, the Bank additionally reinforced its core leadership. The success of Bandhan Bank has been attributed to the trust that its clients have placed in it, as well as the everlasting dedication of its staff. The emphasis on technology, people, and procedures along with these pillars will propel Bandhan Bank 2.0’s expansion” said Chandra Shekhar Ghosh, MD, and CEO, of Bandhan Bank.

The Bank’s objective is to grow its retail book while maintaining its focus on asset diversification. The bank wants to concentrate on increasing digitization to increase efficiency and production. Additionally, this will result in an overall improvement in customer experience.

Priyanka Dutta