Bandhan Bank experienced 17% growth in its total business for Q3 2023-24

Bandhan Bank reported a 17% growth in its total business for Q3 2023-24, reaching Rs.2.33 lakh crore. The bank’s retail to total deposits share reached 71%, driven by expansion in distribution and a favorable operating environment.

The bank opened 26 branches across India, serving over 3.26 crore customers through 6,250 banking outlets. The bank now has over 75,000 employees. The deposit book grew by 15% in Q3 2024, reaching Rs.1.17 lakh crore and total advances at Rs.1.16 lakh crore.

The current account and savings account (CASA) ratio is 36.1% of the overall deposit book, and the Bank’s Capital Adequacy Ratio (CAR) is 19.8%, higher than regulatory requirements. The bank plans to continue expanding its portfolio in verticals like SME Loans, Gold Loans, Personal Loans, and Auto Loans. The bank has also launched new verticals like Commercial Vehicle lending and Loan Against Property for businesses. Chandra Shekhar Ghosh, MD & CEO, expressed confidence in the bank’s growth and commitment to serving customers through products and services.