NE BUSINESS BUREAU
KOLKATA, MAY 12
Bandhan Bank on Tuesday announced that its net profit stood at Rs.3,024 crore in the fourth quarter ended March 31, 2020, which is 54.96% higher than the previous year, a bank release said.
The Bank’s total business grew 46.50% year-on-year to reach Rs.1,28,928 crore. This was the fifth Q4 results declaration. The Bank started operations in FY15-16 and will complete five years of operations in August this year. In just 4 and a half years, the Bank has 4,559 banking outlets through which it serves 2.01 crore customers. The bank added 11 lakh customers in the financial year. The total number of employees working at Bandhan Bank stands at 39,750.
The Bank’s deposit book grew 32.04% over the previous year. The total deposits now stand at Rs.57,082 crore. The current account + savings account (CASA) book grew by 19.36% year-on-year. On the advance book, the bank saw 60.46% growth over the previous year. The total advances are now at Rs.71,846 crore. The net NPA of the Bank stands at 0.58%, signifying a quality loan book.
Capital Adequacy Ratio (CAR), an indication of the stability of the Bank, was at 27.4%, including profits, much higher than the standard norm.
Speaking on the results, Chandra Shekhar Ghosh, MD & CEO, said, “The year had its challenges in the banking industry and with a sluggish economy. Despite that, we have been able to register a strong year. Our growth is thanks to the trust and confidence reposed on us by all our customers. While the last two weeks of the financial year were beginning to see the impact of the COVID-19 pandemic, our business did not see a significant impact. The Bank through its employees will continue to be committed to serving our customers better and also bring a meaningful impact on society and economy.”
