Money & Banking

Bandhan Bank deposits surge 32% in FY20

Our Bureau Mumbai | Updated on April 13, 2020

Bandhan Bank’s retail deposits by 34 per cent to ₹44,760 crore as on March 31, 2020   -  REUTERS

Deposits from micro-banking continue to be strong despite lockdown

Private sector lender Bandhan Bank registered a 32 per cent growth in its total deposits to ₹57,073 crore in the year ended March 31, 2020. Its total deposits stood at ₹43,232 crore a year ago.

On a quarterly basis, deposit growth was just four per cent from ₹54,908 crore as on December 31, 2019.

In a regulatory filing on Monday, Bandhan Bank said deposits from micro-banking customers continue to be strong and stable despite the 21-day nationwide lockdown.

The percentage of micro-banking deposits to total deposits was 5.7 per cent by the end 2019-20.

“The bank’s collection efficiency pan-India from January 1 to March 21, 2020 stands at about 98.7 per cent. Total overdue (0+ days past due) as on March 31, 2020 lower than December 31, 2019,” it said.

Retail deposits, which amounted to 78.4 per cent of all deposits, grew by 34 per cent to ₹44,760 crore as on March 31, 2020 against ₹33,445 crore a year ago.

However, the data for March 31, 2019 are on a standalone basis while data for December 2019 and March 2020 are of the merged entity. In October 2019, the private sector lender had merged with Gruh Finance.

On a quarterly basis, retail deposits increased by seven per cent from ₹41,815 crore as on December 31, 2019.

Bandhan Bank’s loans and advances surged by 60 per cent to ₹71,825 crore as on March 31, 2020 from ₹44,776 crore a year ago. On a quarterly basis, loans and advances rose by 10 per cent from ₹65,456 crore as on December 31, 2019.

Published on April 13, 2020

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like