Bandhan Bank’s Business Grows in FY2020-21
Total customer base stands at 2.3 crore as on March 31, 2021
– Total deposits grew 37% YoY to Rs. 77,972 crore
– Loan book grew 23% YoY to Rs. 80,255 crore
– CASA Deposit growth at 60.9% YoY
– CASA Ratio at 43.4%
– Net profit for FY2020-21 stands at Rs. 2,205 crores
Kolkata, May 8, 2021: Bandhan Bank, the universal bank with inclusive banking at its core, today announced its financial results for the quarter and financial year ended March 31, 2021. The Bank’s total business (deposits and advances) grew 28% year-on-year to reach Rs.1.65 lakh crore at the end of FY2020-21. The Bank, which is in its sixth year of operations, serves 2.37 crore customers through 1,149 branches and 5,371 banking outlets (as on April 30, 2021). The total number of employees working at Bandhan Bank stands at 49,445 as on March 31, 2021.
With the economy gradually coming recovering over the last one year, the Bank’s deposit book grew 37% over the corresponding quarter of the previous year. The total deposits now stand at Rs.77,972 crore. The current account + savings account (CASA) book grew by 61% year-on-year, and the CASA ratio now stands at 43.4% of the overall deposit book.
With respect to advances, the bank saw 21% growth over the corresponding quarter of the previous year. The total advances are now at Rs. 87,054 crore. Capital Adequacy Ratio (CAR), an indication of the stability of the Bank, is at 23.5%, much higher than the required level.
The Bank’s net profit for the quarter ended March 31, 2021 stood at Rs. 103 crores. For the full financial year 2020-21, net profit stood at Rs. 2,205 crores.
Speaking on the results, Chandra Shekhar Ghosh, MD & CEO, said, “As the economy gradually recovered over the last one year, we have seen a healthy rise in business in the fourth quarter as well as FY2020-21. As the country is going through a difficult phase, we are committed to supporting our valuable customers in whichever way we can. We thank them for their continued trust and confidence in Bandhan Bank.”
About Bandhan Bank:
Bandhan started in 2001 as a not-for-profit enterprise that stood for financial inclusion and women empowerment through sustainable livelihood creation. It turned into an NBFC a few years later but the core objective remained financial inclusion. When Bandhan Bank started operations on August 23, 2015, it was the first instance of a microfinance entity transforming into a universal bank in India. On the day of launch itself, Bandhan Bank started with 2,523 banking outlets.
Bandhan Bank is driven by a constant desire to serve better. It offers world-class banking products and services to urban, semi-urban and rural customers alike. In the last few years of operations, Bandhan Bank has spread its presence to 34 of the 36 states and union territories in India with 5,310 banking outlets serving 2.30 crore customers.
With its experienced management, diversified team and well entrenched distribution, Bandhan Bank is well poised to meet the aspirations of its customers and stakeholders.