Kolkata: Bandhan Bank announced its financial results for the first quarter of the current financial year 2022-23 on Friday. Along with improving economic conditions, the bank also succeeded in continuing its strong business growth streak (Bandhan Bank Q1FY23).

June 30, 2022 Bandhan Bank’s total business (deposits and loans) increased by Rs 1,89,706 lakh crore in the first quarter of the current financial year compared to the first quarter of the previous financial year. Bandhan Bank serves 2.69 crore customers through 5,640 banking outlets and branches in 34 of India’s 36 states and Union Territories. Bandhan Bank’s total workforce is now 61,247.

Deposit volume of Bandhan Bank increased by 20 percent in the first quarter of the current financial year compared to the first quarter of the previous financial year. At present the total deposit amount is Tk 93,057 crore. CASA (Current Account Savings Account) has grown by 21 percent compared to the first quarter of last financial year and CASA ratio is now 43.2 percent of total deposits. The amount of loans disbursed in the first quarter of the current financial year has increased by 20 percent compared to the loans given to customers in the first quarter of the last financial year. The total amount of disbursed loans is now Tk 96,649 crore.

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Capital Adequacy Ratio (CAR) which reflects the soundness of a bank, CAR for bandhan banks is now 19.4% percent, which is much higher than the required level set by the regulator.

Bandhan Bank plans to open 500 new branches across the country this financial year to reach out to all consumers in the country. The bank aims to expand its portfolio in areas such as SME loans, gold loans, personal loans and car loans.

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Regarding the financial results of the bank, Bandhan Bank Managing Director and CEO Chandrasekhar Ghosh said, “The first quarter of the current financial year has been good for the bank, compared to the same period of the last financial year, Bandhan Bank has seen a strong business growth. Along with expanding our distribution and product portfolio, we are also able to deliver banking services to all citizens. We are fortunate to have earned the trust of crores of countrymen and we will continue to serve them.”

Published by:Siddhartha Sarkar

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