Bandhan Bank loans, advances rise 22% to ₹99,374 cr in Sept quarter of FY23
1 min read 08 Oct 2022, 02:31 PM ISTThe bank's total deposits grew by 21% to ₹99,365 crore at end of September quarter 2022, as against ₹81,898 crore a year ago
PremiumKolkata-headquartered private sector lender Bandhan Bank on Saturday reported a 22% jump in loans and advances at ₹99,374 crore at end of September quarter of this year. The lender's loans and advances were ₹81,661 crore in the same period a year ago.
The bank's total deposits grew by 21% to ₹99,365 crore at end of September quarter 2022, as against ₹81,898 crore a year ago.
Of this, retail deposits were of ₹73,660 crore, which was higher by 7% from the year ago's ₹68,787 crore.
The retail deposit includes current account and savings account (CASA) of ₹40,509 crore, up by 11% from a year earlier.
The private sector lender's CASA ratio was at 40.8% as of 30 September, 2022.
The bank's retail deposit formed 74% of the 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 end of June 2022 quarter.
The lender said the numbers mentioned as on 30 September, 2022 are provisional unaudited numbers and are subject to review /examination by the Audit Committee and board of directors.
Meanwhile, Bandhan Bank's June quarter net profit more than doubled to ₹886.5 crore in April-June 2022-23 aided by a decline in bad loans. The lender had logged a net profit of ₹373.1 crore in the year-ago period.
Total income increased to ₹2,844.1 crore from ₹2,731 crore. The interest income of the lender jumped to ₹2,514.4 crore from ₹2,114.1 crore, the bank had said.
Bandhan Bank's MD & CEO Chandra Sekhar Ghosh said that the bank will open 551 more branches in the 2022-23 fiscal, as a part of the lender's focus to make 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 inputs
