Bandhan Bank says that the loans and advances are up at 3% since June quarter and the deposits increased to Rs. 66,153 crore from Rs. 60,610 crore during the quarter.
Bandhan Bank looks at an improving financial statement amidst the economic downturn.
Kolkata-based private sector lender, Bandhan Bank Ltd. is an Indian banking and financial services company. The bank officials on October 7, claimed that its total advances grew 3 per cent within the second quarter while deposits were up 9 per cent. They have witnessed a slight improvement in their situation backed by the increase in the advances and deposits.
Total advances grew to Rs 76,724 crore as on September 30 compared with Rs 74,331 crore as on June 30, the bank said during a stock market update.
The bank said collection efficiency for September stood at around 92 per cent. Of this, the gathering efficiency for the microfinance segment stood at 89 per cent, about 98 per cent of mortgage and about 98 per cent within the SME and NBFC (Non-Banking Financial Company) sector. Approximately 70 per cent of customers have started repaying their loans, the bank officials further added.
The liquidity coverage ratio, a critical financial parameter, stood at 157 per cent as on September 30, the bank said. During the quarter, the bank reduced the minimum rate of interest on savings deposits from 4 to 3 per cent.
The Bank has marked its presence in 34 out of 36 states and Union Territories of India. Presently the said bank has 4,559 banking outlets pan-India serving quite 2.03 crore customers.
On June 17, 2015, the Federal Reserve Bank of India (RBI) granted the universal banking licence to Bandhan Bank.
The Bandhan bank has gathered deposits over Rs. 60,610 crore and its total advances stood at Rs. 74,331 crore, as on June 30, 2020.
Bandhan Banks’s equity shares are registered on the Bombay Stock Exchange (BSE) market and National Stock Exchange (NSE) market of India.
The IPO (Initial Public Offer) got oversubscribed by almost 15 times at the top of the three-day-long issue. On its stock exchange debut (March 27 2018), the equity opened at Rs 487.33 on the National Stock Exchange (NSE) and closed at Rs 476.85, 27 per cent over its issue price of Rs 375.
The growth is less when compared to the data for the same period during the previous financial year, but the improvement is slow. Still, it must be acknowledged considering the current situation of the economy.