Bandhan Bank reported a 17% growth in its Q3 2023-24 financial results, reaching Rs.2.33 lakh crore, and holding a 71% share of retail to total deposits. The encouraging growth witnessed in the quarter has been driven by its expansion in distribution and the favorable operating environment.
Bandhan Bank opened 26 branches during the quarter, serving over 3.26 crore customers through 6,250 outlets in country and employs over 75,000 people. The bank’s total deposit book is Rs.1.17 lakh crore, with total advances at Rs.1.16 lakh crore. The current account and savings account (CASA) ratio is 36.1%, and the bank’s Capital Adequacy Ratio is 19.8%, exceeding regulatory requirements.
Chandra Shekhar Ghosh, MD & CEO, said, “We will also continue to actively evaluate distribution expansion opportunities to reach out to a larger population across the nation.” The bank is expanding its portfolio in various product ranges, including SME Loans, Gold Loans, Personal Loans, and Auto Loans, and has recently launched new verticals like Commercial Vehicle lending and Loan Against Property for businesses.
