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Bandhan Bank crosses the milestone of 3 crore customers

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HT Bureau

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GUWAHATI, May 20: Bandhan Bank recently announced that it has crossed the 3 crore customer mark, which is a testament to its ability to build trust and cater to the diverse banking needs of individuals and businesses across the country. Within a relatively short period, Bandhan Bank has established itself as a preferred banking partner for millions of customers. Bandhan Bank has witnessed significant growth in its total business, comprising both deposits and advances. As of March 31, 2023, the bank’s total business reached an impressive figure of Rs 2.17 lakh crore. This achievement highlights the bank’s ability to attract and retain customers while expanding its reach.

With a network of 6,000 banking outlets spread across 34 states and union territories in India, Bandhan Bank ensures easy accessibility and convenience for its customers. The bank’s expansion in distribution has played a vital role in driving its growth and establishing a strong presence in various regions. Bandhan Bank’s deposit book has witnessed substantial growth, with a 12% increase during the final quarter of FY23 compared to the corresponding quarter of the previous year. The total deposits now stand at an impressive Rs 1.08 lakh crore. The bank’s current account and savings account (CASA) ratio, an essential indicator of the bank’s stability, stands at a healthy 39.3% of the overall deposit book. Further, the bank’s loan book grew by 10% year-on-year to reach Rs 1.09 lakh crore. This growth reflects the bank’s ability to provide timely credit and its focus on meeting the evolving needs of its customers. Additionally, Bandhan Bank maintains a robust Capital Adequacy Ratio (CAR) of 19.8%, surpassing the regulatory requirements.

Speaking on the results, Chandra Shekhar Ghosh, MD & CEO, said, “The Bank registered good growth in the fourth quarter. We are building new capabilities to unlock greater business impact. Our new business streams such as Commercial Vehicle Lending, Loans against Property for Business, and Government Business Operations, among others, will add to the top line as well as the bottom line over the next few quarters. We have been fortunate to earn the trust of more than 3 crore Indians and we will endeavour to continue to be their trusted partner in their journey to achieve their dreams.”

 

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The Hills Timeshttp://www.thehillstimes.in
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