Bandhan Bank Deposits Surge 22% YoY in Q1 FY25

4 Jul 2024 , 12:33 PM

Bandhan Bank’s total deposits increased by 22.79% to ₹1,33,203 Crore in the quarter ended June 30, 2024, from ₹1,08,480 Crore in the quarter ended June 30, 2023.

The bank’s total deposits fell by 1.5% compared to ₹1,35,202 Crore recorded in the quarter ended March 31, 2024.

Bulk deposits totaled ₹41,099 Crore during the quarter, up 31.6% YoY but down 0.7% QoQ.

The retail to total deposits ratio was 69.1% in the quarter ended June 30, 2024, compared to 71.2% in the quarter ended June 30, 2023.

CASA ratio stood at 33.4% in the quarter ended June 2024, compared to 36% in the quarter ended June 2023 and 37.1% in the quarter ended March 2024.

Loans and advances (on book + off book + TLTRO + PTC) increased by 21.8% to ₹1,25,619 Crore in the quarter ended 30 June 2024, up from ₹1,03,169 Crore in the quarter ended 30 June 2023. On a quarterly basis, the loan book increased by 0.7%, from ₹1,24,721 crore.

The bank’s LCR as of June 30, 2024 was around 149.5%. Collection efficiency for June 2024 was roughly 98.5%, compared to 98.8% in March 2024. The collection efficiency for the emerging entrepreneurs business (EEB) (micro) category was 98.5%, while the non-EEB segment was 98.3% in June 2024.

Bandhan Bank acts as a commercial bank. The bank’s distribution network encompasses 6,300 outlets. During the quarter, the bank added 10 lakh customers, bringing the total number of current customers to 3.36 crore. The Bank currently employs roughly 76,000 people.

The bank’s net profit fell by 93.24% to ₹54.62 Crore in Q4 FY24, compared to ₹808.29 Crore in Q4 FY23. However, overall income increased by 20.13% to ₹5,883.46 Crore in the fourth quarter of FY24, from ₹4,897.39 Crore in Q4 FY23.

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