Bandhan Bank records 23% growth in Q3 advances

Bandhan Bank has registered a 23 per cent growth in advances at around ₹80,255 crore for the quarter ended December 31, 2020, compared to ₹65,456 crore in the same period last year.

In a notification to the stock exchanges on Wednesday, the bank shared initial disclosure numbers pertaining to loans and deposit growth in Q3 of FY21.

On a sequential basis, advances grew by about five per cent from ₹76,615 crore during the quarter ended September 30, 2020.

Total deposits grew by 30 per cent to ₹71,188 crore during the quarter under review, compared to 54,908 crore. Sequentially, it grew by around 8 per cent from ₹66,128 crore during the quarter ended September 2020.

CASA (current account and savings bank account) deposits grew by around 62 per cent on a year-on-year basis to ₹30,504 crore. Sequentially, it grew by around 21 per cent from ₹25,279 crore during Q2 FY21.

CASA ratio improved to 43 per cent during the quarter under review against 34 per cent same period last year.

The share of retail to total deposits also grew substantially to 81 per cent from 77 per cent in the September 2020 quarter.

“The numbers mentioned above as on December 31, 2020, are provisional unaudited numbers and is subject to review/examine by the audit committee and board of directors, and also subject to review by the statutory auditors of the bank,” Bandhan Bank said in the notification.