Bandhan Bank Reports Strong Q2 Results

7 Oct 2024 , 01:54 PM

According to a recent regulatory filing with the markets, private lender Bandhan Bank reported an increase in its total business for the second quarter of the current financial year of 24.6%.

The bank’s total business as of September 30, 2024, was ₹2,73,163 crore, which is an increase from ₹2,19,712 crore during the same period the previous year.

While total deposits increased to ₹1,42,511 crore, the bank’s loans and advances were at ₹1,30,652 crore.

At the conclusion of the second quarter, Bandhan Bank’s collection efficiency ratio across all business verticals was reported at 98.2%, a minor decrease from 98.7% the previous quarter.

In particular, the microcredit company recorded a 98.1% collection efficiency ratio, down from 98.8% during the quarter that ended on June 30, 2024.

Along with its financial results, Bandhan Bank also revealed that interim Chief Executive Officer and Managing Director Ratan Kumar Kesh’s term has been extended by one month, beginning on October 10, 2024.

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