Financial Results for the second quarter of the financial year 2020-21 have been announced by Bandhan Bank. The Bank’s total business grew 25.90% year-on-year to reach Rs.1,42,742.3-Crore. The Bank started operations in FY15-16 and completed five years of operations in August this year. In just a little over 5 years, the Bank has 4,701 banking outlets through which it serves 2.08-Crore customers. Mr Chandra Shekhar Ghosh, MD & CEO, said, “The Bank, through its employees, remains committed to serve our customers better and also make some meaningful contribution towards the society and the economy.”
Bandhan Bank’s deposit book grew 34.4% over the corresponding quarter of the previous year. The total deposits now stand at Rs.66,127.7-Crore. The current account + savings account (CASA) book grew by 56.2% year-on-year to Rs.25,279-Crore and CASA ratio now stands at 38.2% of the overall deposit book.
With respect to advances, the Bank saw 19.4% growth over the corresponding quarter of the previous year. The total advances are now at Rs.76,614.6-Crore. Capital Adequacy Ratio (CAR), an indication of the stability of the Bank, is at 27.8%, including profits, much higher than the required level. The Bank’s net profit stood at Rs.920-Crore, up 67.3% over the previous quarter.
