Bandhan Bank deposits grows 25% YoY in Q4 FY24

Bandhan Bank's total deposits rose by 25.1% to Rs 1,35,198 crore in the quarter ended 31 March 2024 from Rs 1,08,069 crore recorded in the quarter ended 31 March 2023.

The bank's total deposits were higher by 15.1% as compared with Rs 1,17,422 crore reported in the quarter ended 31 December 2023.

Bulk deposits stood at Rs 41,404 crore during the quarter, up 33% YoY and 22.7% QoQ.

Retail to total deposits ratio stood at 69% in Q4 FY24 as against 71% recorded in Q3 FY24 and Q4 FY23.

CASA ratio stood at 37.1% in the quarter ended March 2024 as against 39.3% in the quarter ended March 2023 and 36.1% in the quarter ended December 2023.

Loans & advances (on book + off book + TLTRO + PTC) rose by 17.8% to Rs 1,28,572 crore in the quarter ended 31 March 2024 from Rs 1,09,122 crore in the quarter ended 31 March 2023. On a sequential basis, the loan book has increased by 10.9% from Rs 1,15,940 crore.

The bank's LCR as on 31 March 2024 stood approximately at 172%. Collection efficiency for the month of March 2024 was approximately 99% as compared with 98% in December 2023. The collection efficiency emerging entrepreneurs business (EEB) (micro) segment was 99% and that of non-EEB segment was 98% in March 2024.

Bandhan Bank operates as a commercial bank. The banking outlets as on 31 December 2022, stood at 5,723. The network consists of 1,250 branches, 4,473 banking units as against 1,176 branches and 4,450 banking units as on December 31, 2021.

The Kolkata-based private lender reported a net profit of Rs 732.72 crore in Q3 FY24, steeply higher than Rs 290.57 crore recorded in Q3 FY23. Total income increased 7.6% to Rs 5,210.60 crore in the third quarter of FY24 from Rs 4,840.94 crore posted in Q3 FY23.

The scrip rose 0.68% to trade at Rs 199.45 on the BSE.

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