Bandhan Bank reported a 20% growth in its total business for the final quarter of 2023-24, reaching a total of Rs.2.60 lakh crore. The Bank’s share of retail to total deposits now stands at nearly 70%. The encouraging growth witnessed in the last quarter has been driven by its expansion in distribution, business efficiency and the favourable operating environment.
During the fourth quarter, the Bank opened 50 branches across the country. The Bank now serves more than 3.35 crore customers through 6,300 banking outlets in India. Bandhan Bank currently employs nearly 76,000 individuals. Speaking on the Bank’s performance, Chandra Shekhar Ghosh, MD & CEO, said, “These cornerstones along with the focus on tech, people and processes will drive the growth trajectory of Bandhan Bank 2.0. “
During Q4FY24, the Bank’s deposit book grew by 25% over the same period in the previous year. The total deposit book now stands at Rs.1.35 lakh crore while total advances are at Rs.1.25 lakh crore.The current account and savings account (CASA) ratio is exceeding 37% of the overall deposit book. The Bank’s Capital Adequacy Ratio (CAR), a crucial indicator of its stability, stands at 18.3%, exceeding the regulatory requirement.
