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  • Panchayat Conference to contest on all DDC seats
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  • Capt should talk to PM to reverse decision on contentious farm laws:AAP
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  • Satish Prasad Singh, CM for shortest tenure passes away
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  • IPL 2020: DC win toss, elect to bowl against RCB
  • Biennial UP legislative council polls for 11 seats to be held on Dec 1
  • RSP achieves several production records in key areas in October
  • Badshah of Bollywood Shah Rukh Khan turns 55
  • Kenyan CDF in India to cement bilateral defence ties
  • Ajit Pawar discharged from hospital
  • Elaborate arrangements for by election in Balasore and Tirtol Assembly seats in Odisha
Business EconomyPosted at: Nov 2 2020 6:42PM


Bandhan Bank records impressive business growth

Kolkata, Nov 02 (UNI) 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 with its total
business (deposits and advances) growing 25.90 per cent 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, 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.”
UNI SJC BM
Tags: #Bandhan Bank records impressive business growth
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