Bandhan Bank sees its deposit base grow to Rs. 66,127.7 crore in Q2FY21
Kolkata: Bandhan Bank, the universal bank with inclusive banking at its core, today announced its financial results for the second quarter of financial year 2020-21. The Bank’s total business (deposits and advances) 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. The total number of employees working at Bandhan Bank stands at 45,549.
With the country gradually unlocking its economy, the 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. The net NPA of the Bank stands at a low 0.4%, signifying a quality loan book.
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 ended June 30, 2020.
Speaking on the results, Mr. Chandra Shekhar Ghosh, MD & CEO, said, “After a complete lockdown in the first quarter of the financial year, the second quarter was better with several parts of the country opening up for economic activity. Our growth is thanks to the trust and confidence reposed in us by all our customers, who have shown resilience in the face of economic challenges. The Bank, through its employees, remains committed to serve our customers better and also make some meaningful contribution towards the society and the economy.”