Bandhan Bank announced its financial results for the final quarter of the financial year 2023-24. The bank’s total business grew by 20%, to close at 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.
The Bank opened 50 branches nationwide in the fourth quarter. Bandhan Bank, serving over 3.35 crore customers across 6,300 Indian banking outlets, employs nearly 76,000 employees. The bank’s deposit book increased by 25% in Q4FY24, reaching Rs.1.35 lakh crore, while total advances reached 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. 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. “
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