In the presence of C.S. Ghosh, Managing Director and CEO of Bandhan Bank and Sunil Samdani, the Quarterly Financial Results for the Quarter that ended on 30^th June, 2019 was announced at a press meet.

Some of the key highlights that were discussed include deposit portfolio increasing by 42.33 % YoY, loan portfolio to grow by 39.36%, 7.08 lakh customers added during the quarter, Capital Adequacy Ratio at 27.03% and so on.

Chandra Shekhar Ghosh announced that there will be a merger with Gruh leading to diversification of Bandhan Bank and also to the growth of the bank.

It was announced that 187 new branches will be opened soon. The bank wants to expand geographically and hence they are looking to expand in South India where they have the least presence.

The banking outlets as on 30^th June, 2019 stood at 4013. The network consists of 999 branches and 3014 doorstep service centers as against 937 branches and 2764 doorstep service centers as on 30^th June 2018. The total number of ATMs stood at 481 on 30^th June, 2019.the number of employees of the bank has increased from 28. 826 to 32, 774.

Mr Ghosh also added that the growth is slow in the first quarter as it was the end of the financial year. However things are expected to go up in the second quarter.

Priyanka Dutta