Bandhan Bank rose 3.31% to Rs 324.90 after the bank said its collection efficiency in September 2020 was about 92%.
While the micro finance collection efficiency was approximately at 89%, the collection efficiency in mortgage and others segments (which includes small and medium enterprises & non-banking financial companies) stood at approximately 98%.
The bank said that approximately 94% of micro finance customers paid in September 2020. The bank's loans & advances rose 20% to Rs 76,724 crore in Q2 September 2020 (Q2 FY21) from Rs 64,186 crore in Q2 September 2019 (Q2 FY20).
Total deposits jumped 34% to Rs 66,153 crore in Q2 FY21 from Rs 49,195 crore in Q2 FY20. The retail to total deposits ratio was at 77% as on 30 September 2020 as against 78% as on 30 September 2019.
CASA deposits in Q2 FY21 stood at Rs 25,279 crore, up by 56% from Rs 16,186 crore recorded in the same period last year. CASA ratio was at 38.2% as on 30 September 2020 as against 32.9% as on 30 September 2019.
During the quarter, the bank reduced minimum interest rate on saving bank deposits from 4% per annum to 3% per annum. Liquidity coverage ratio (LCR) as on 30 September 2020 at approximately 157%. The announcement was made after market hours on Wednesday (7 October 2020).
Bandhan Bank operates as a commercial bank. It has spread its presence to 34 of the 36 states and union territories in India with 4,559 banking outlets serving 2.03 crore customers, as on 30 June 2020.
The bank's standalone net profit fell 31.58% to Rs 549.81 crore on a 14.93% increase in total income to Rs 3,404.84 crore in Q1 June 2020 over Q1 June 2019.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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