Bandhan Bank reported a 87% growth in its retail loan book for Q1 2023-24, showcasing its diversification agenda. The bank now holds 71% retail to total deposits share and tripled its branch presence in less than eight years. In the same period, the total business has grown to more than Rs. 2.11 lakh crore. Driven by its expansion in distribution and favourable operating environment, the Bank witnessed balanced growth in the quarter.
Bandhan Bank’s total business grew 11% to Rs.2.11 lakh crore as of March 31, 2023. Serving 3.07 crore customers through 6140 outlets across 36 states and union territories, the bank employs over 72,000 employees. The Bank’s deposit book grew 16% in Q1 of FY24, reaching Rs.1.08 lakh crore.
The current account and savings account ratio now stands at 36%. Advances saw 7% growth, reaching Rs.1.03 lakh crores. The Bank’s Capital Adequacy Ratio (CAR) is 19.8%, higher than regulatory requirements. Speaking on the results, Chandra Shekhar Ghosh, MD & CEO, said, “With all the new business lines initiated last year and this year, we are confident of a good run in the financial year ahead.”
