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Bandhan Bank FY20 Deposits Rise 32% to Rs 50,073 Cr

Bandhan Bank on Monday said its total deposits grew by 32 per cent to Rs 50,073 crore during the fiscal ended March 2020. The bank had total deposits of Rs 43,232 crore as at end of March 2019. The retail deposits formed bulk of the total deposits at 78.4 per cent, which showed an increase of 34 per cent to Rs 44,760 crore as on March 31, 2020, Bandhan Bank, said in a regulatory filing.
The bank’s retail deposits stood at Rs 33,445 crore in the year ago fiscal. The data compares the standalone business as on March 31, 2019, to that of merged entity by end of March 31, 2020. In October 2019, the had bank merged with Gruh Finance in order to bring down shareholding of the promoter from 82.26 per cent to 60.96 per cent. Loans and advances jumped by 60 per cent to Rs 71,825 crore during 2019-20, from Rs 44,776 crore. The bank said that the percentage of microbanking deposits to total deposits was 5.7 per cent by the end of fiscal FY20.
Read EquityPandit’s Nifty Bank Outlook for the Week
On microbanking business, Bandhan Bank said its collection efficiency pan-India for the period from January 1, 2020, till March 21, 2020, stands at nearly 98.7 per cent.

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