Kolkata : Bandhan Bank announced its financial results for the first quarter of the financial year 2024-25. The bank’s total business grew by 22%, to close at Rs.2.59 lakh crore. The Bank’s share of retail to total deposits now stands at nearly 69%. The encouraging growth witnessed in the last quarter has been driven by its expansion in distribution, business efficiency and the favourable operating environment.
The Bank now serves more than 3.44 crore customers through 6,300 banking outlets in India. The total number of employees working at Bandhan Bank is now nearly 77,500.
During Q1 FY25, the Bank’s deposit book grew by 23% over the same period in the previous year. The total deposit book now stands at Rs.1.33 lakh crore while total advances are at Rs.1.26 lakh crore. The current account and savings account (CASA) ratio is standing at 33.4% of the overall deposit book. Capital Adequacy Ratio (CAR), an indicator of the stability of the Bank, is at 15.7%, higher than the regulatory requirement.
Speaking on the Bank’s performance, Ratan Kumar Kesh, MD & CEO, said, “The first quarter of the year is a testament to the business performance we aim to sustain throughout the year. We have demonstrated stability and growth across key parameters. Bandhan Bank’s foundation is built on the trust of its customers and the unwavering commitment of its employees. These cornerstones, along with a focus on technology, process, product and people, will drive the growth trajectory of Bandhan Bank 2.0.”
The Bank continues its focus on asset diversification with a clear intention to increase its retail book. The bank intends to focus on greater digitization for higher productivity and efficiency. This will also lead to an overall enhancement in customer experience.
