Kolkata, October 25, 2024: Bandhan Bank announced its financial results for the second quarter of the financial year 2024-25. The bank’s total business grew by 24%, to close at Rs.2.73 lakh crore. The Bank’s share of retail to total deposits now stands at nearly 68%. 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 now serves over 3.5 crore customers through nearly 6,300 banking outlets in India. The total number of employees working at Bandhan Bank is now nearly 80,000.
During Q2 FY25, the Bank’s deposit book grew by 27% over the same period in the previous year. The total deposit book now stands at Rs.1.43 lakh crore while total advances are at Rs.1.31 lakh crore. The current account and savings account (CASA) ratio is standing at 33.2% of the overall deposit book. Capital Adequacy Ratio (CAR), an indicator of the stability of the Bank, is at 15.6%, higher than the regulatory requirement.
Speaking on the Bank’s performance, Ratan Kumar Kesh, MD & CEO (Interim), said, “Bandhan Bank’s strong performance in the second quarter reflects the momentum in quality growth with our focus on effective risk management and compliance. Our success is anchored in the trust of our customers and the dedication of our employees. By focusing on innovation in technology, refining our processes, and enhancing products and people capabilities, we are well-positioned to drive the next phase of growth for Bandhan Bank 2.0.”
The Bank remains committed to diversifying its assets, with a clear focus on expanding its retail portfolio. Greater digitization is a key priority, aimed at boosting productivity and efficiency while enhancing the overall customer experience. In recent months, the Bank has launched a range of new products, including trade services, pension schemes, the Avni Savings Account, and a GST payment service.
