Bandhan Bank announced its financial results for the second quarter of the financial year 2023-24. The bank’s retail loan book grew at a healthy 80% further strengthening the Bank’s portfolio diversification agenda. The Bank’s share of retail to total deposits now stands at 74%. The Bank’s total business reached nearly Rs.2.20 lakh crore in Q2, driven by expansion in distribution and favorable operating environment.
Bandhan Bank has expanded its presence in Ladakh by opening a branch in Leh, marking its entry into the 35th of the 36 states and union territories in India. The bank opened 80 branches in Q2 and serves over 3.17 crore customers through 6,200 outlets. The bank now has over 74,000 employees. In Q2 of FY24, the bank’s deposit book grew over 12.8%, with total deposits at Rs.1.12 lakh crore. The current account and savings account ratio is 38.5%, and the total advances are Rs.1.08 lakh crores. The bank’s Capital Adequacy Ratio is 19.2%, higher than regulatory requirements. Chandra Shekhar Ghosh, MD & CEO, said, “With all the new business lines initiated over the last few quarters and technology transformation undertaken by the bank, we are confident of a good run in the rest of this financial year.”
