Kolkata, July 26, 2024: Bandhan Bank announced robust financial results for the first quarter of the fiscal year 2024-25, with total business growing by an impressive 22% to ₹2.59 lakh crore. The significant increase in business volume is attributed to the bank’s strategic expansion in distribution, enhanced business efficiency, and a favorable operating environment.
Impressive Customer Base and Workforce
Bandhan Bank now serves more than 3.44 crore customers through 6,300 banking outlets across India. The bank’s workforce has grown to nearly 77,500 employees, showcasing its strong commitment to customer service and operational efficiency.
Solid Deposit and Advances Growth
In Q1 FY25, the bank’s deposit book experienced a 23% growth compared to the same period last year, reaching ₹1.33 lakh crore. Total advances stand at ₹1.26 lakh crore. The current account and savings account (CASA) ratio is at 33.4%, reflecting a healthy mix of low-cost deposits. The Capital Adequacy Ratio (CAR), indicating the bank’s stability, is at 15.7%, surpassing the regulatory requirement.
CEO’s Perspective
Ratan Kumar Kesh, MD & CEO of Bandhan Bank, commented on the bank’s performance, stating, “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.”
Focus on Retail Growth and Digitization
Bandhan Bank continues to emphasize asset diversification, with a clear strategy to increase its retail book. The bank is also prioritizing greater digitization to enhance productivity and efficiency, ultimately improving the overall customer experience.
The promising results from the first quarter indicate a strong year ahead for Bandhan Bank, as it continues to build on its solid foundation and strategic initiatives.
