PremiumKolkata-headquartered Bandhan Bank crossed the ₹1 lakh crore mark in both deposits and loans & advances during the third quarter of FY23. The bank posted double-digit growth in both total advances and deposits year-on-year. However, CASA deposits witnessed some decline during the quarter. Bandhan Bank announced its provisional data for Q3FY23 on Saturday.
As per the filing, Bandhan Bank's loan and advances stood at ₹1,00,520 crore in Q3FY23 rising by 14% from ₹87,998 crore in Q3 of the previous fiscal. Sequentially, the growth was around 5% from loans and advances of ₹95,835 crore posted in Q2FY23.
Bandhan Bank said that loans and advances as of December 31, 2022, are before considering write-offs. The figure shall be updated post-write-offs, if any, along with Q3 FY23 financial results.
Total deposits came in at ₹1,02,283 crore during Q3FY23 up by 21% from ₹84,500 crore in Q3FY22 and also rising by 3% as against ₹99,366 crore in Q2FY23.
Under total deposits, retail term deposits were at ₹33,856 crore up by 3% yoy, while bulk deposits stood at ₹31,233 crore in Q3FY23 increasing by a whopping 139% yoy. However, CASA deposits dipped by 3% yoy to ₹37,194 crore. CASA ratio was 69% in Q3FY23 lower than 85% in Q3FY22 and 74% in Q2FY23.
During the quarter, it said the bank has seen the movement of deposits from customers maintaining saving balances above ₹ 2 crore to term deposits. The same has been classified as a Bulk term deposit.
Bandhan Bank's liquidity coverage ratio stood at 155% as of December 31, 2022.
Also, Pan bank collection efficiency inched higher to 98% in Q3FY23 versus 97% in Q2FY23. It said, in EEB segment, zero + DPD (without CGFMU adjustment and technical write off in Q3 FY2023) in absolute amount as on December 31, 2022, is lower than September 30, 2022.
On Friday, Bandhan Bank shares closed at ₹242.20 apiece marginally up on BSE. Its market cap is over ₹39,014 crore.
The bank's stock will be in focus in the week ahead post its deposits and advances data for Q3. Notably, the bank is yet to announce its overall financial results for the third quarter.