Bandhan Bank loans, advances up 22% to ₹99,374 cr in Sept quarter FY23 | Techy Kings

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Kolkata-headquartered private sector lender Bandhan Bank on Saturday reported a 22% jump in loans and advances on 99,374 crore at the end of the September quarter this year. Lenders’ loans and advances are 81,661 crore in the same period a year ago.

Total bank deposits increased by 21% to 99,365 crore at the end of the September 2022 quarter, compared to 81,898 crore a year ago.

Of this amount, retail deposits are as much as 73,660 crore, which is 7% higher than last year 68,787 crore.

Retail deposits including current accounts and savings accounts (CASA) amounting to 40,509 crore, up 11% from the previous year.

The CASA ratio of private sector lenders was at 40.8% as of September 30, 2022.

Bank retail deposits make up 74% of total deposits.

The Kolkata-headquartered bank said its pan India collection efficiency, excluding non-performing assets and including restructured customers, was 97%, up from 96% at the end of the June 2022 quarter.

The lender said the number mentioned on September 30, 2022 is a provisional number that has not been audited and is subject to review/inspection by the Audit Committee and the board of directors.

Meanwhile, Bandhan Bank’s June quarter net profit more than doubled to 886.5 crore in April-June 2022-23 helped by a decline in bad loans. The lender has recorded a net profit of 373.1 crore during the last year.

Total income increased to 2,844.1 crore from 2,731 crore. Lenders’ interest income soared to 2,514.4 crore from 2,114.1 crore, the bank said.

Bandhan Bank CEO & CEO Chandra Sekhar Ghosh said that the bank will open 551 more branches in fiscal 2022-23, as part of the lender’s focus on making its distribution stronger in other parts of India outside the eastern region.

With the latest addition, the Kolkata-headquartered bank’s branch count will exceed 6,000.

With agency input

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