Page 5 - Bandhan Bank

Bandhan Bank's advances increase 17.8% to Rs 1.28 trillion in Q4FY24

Bandhan Bank on Thursday said its loans and advances have clocked Rs 1.28 lakh crore at the end of the fourth quarter of the 2023-24 fiscal, registering a 17.8 per cent growth year-on-year. The lender said the same was Rs 1.09 lakh crore by the end of March 31, 2023. The bank said, in a regulatory filing, that the total deposits during the March quarter of FY'24 stood at Rs 1.35 lakh crore with a 25.1 per cent rise year-on-year. CASA deposits of the lender at the end of the quarter ending March 31, 2024 stood at Rs 50,151 crore. The CASA ratio was at 37.1 per cent. The collection efficiency ratio of the bank at the end of the fourth quarter of the last fiscal stood at 99 per cent, it said. Retail deposits of the bank (including CASA) at the end of the quarter ending March 31, 2024 stood at Rs 93,794 crore, and bulk deposits at Rs 41,404 crore.

Bandhan Bank to launch credit card in Apr-May; Piush Jha to head the unit

Strengthens top management with ex HDFC, Citi, Axis bankers

RBI imposes Rs 1.4 crore penalty on Bank of India for non-compliance

The Reserve Bank of India (RBI) on Wednesday said it has imposed a penalty of Rs 1.4 crore on Bank of India for non-compliance with certain regulatory norms. It has also imposed a penalty of Rs 29.55 lakh on private sector lender Bandhan Bank for non-compliance with certain directions. The penalty on Bank of India has been imposed for non-compliance with the RBI's directions related to 'interest rate on deposits', 'customer service in banks', 'interest rate on advances', and contravention of provisions of Credit lnformation Companies Rules, 2006. The RBI said statutory inspection for supervisory evaluation of the bank was conducted by it with reference to its financial position as on March 31, 2021 and March 31, 2022. Meanwhile, the RBI also said a penalty of Rs 13.60 lakh has been imposed on Indostar Capital Finance Ltd for non-compliance with the 'Monitoring of Frauds in NBFCs (Reserve Bank) Directions, 2016' and with certain provisions of KYC directions. In all cases, the penal

DSP Mutual Fund launches US bond fund with flexibility on duration

Scheme to actively manage duration through seven US bond ETFs

RBI clears appointment of S Ravindran as part-time chairman of TMB

The approval is subject to Ravindran, stepping down from his directorships in Shriram Finance and Bandhan AMC, prior to assuming charge

Bandhan Bank's micro challenges: Unsecured loan book, CEO's tenure

Microloans are unsecured. Conscious of this, the Kolkata-based Bandhan acquired affordable housing finance company Gruh Finance in 2019 from what was then HDFC Ltd

Stocks to Watch today: Voda Idea, SpiceJet, Jana SFB, Angel One, Bandhan Bk

Stocks to watch on Thursday, February 22, 2024: Voda Idea, Texmaco Rail to consider fund raise proposals on February 27; Gujarat Ambuja Exports fixed record date for bonus issue.

Bandhan Bank appoints Rajeev Mantri as CFO effective from February 22

Ghosh took charge as the Interim CFO from October 20, 2023, after Sunil Samdhani resigned from the post of CFO effective September 30, 2023, to explore opportunities outside the bank

Bandhan Bank authorised to collect revenues on behalf of West Bengal govt

Private lender Bandhan Bank on Saturday said that it has been authorised by the West Bengal government to collect tax and non-tax receipts on its behalf. The mandate will enable the bank to collect revenues through the Government Receipt Portal System (GRIPS). By virtue of this mandate, people will be able to pay various taxes like property tax, motor vehicle tax and professional tax using this portal, the lender said. The bank will soon be integrating itself with the West Bengal government to operationalise the payment collection process. Debraj Saha, head-government business, Bandhan Bank said West Bengal is among the top three markets for Bandhan Bank. The bank has over 1,700 transaction outlets in the state, he said. GRIPS is an online internet-based platform for making various tax and non-tax payments to the West Bengal government.

Audit of Rs 22.7K cr microloans due to large claim amount: Bandhan CEO

The maximum eligible amount a bank can claim under the CGFMU insurance is 15 per cent of the total insured amount

Bandhan Bank Q3 results: Net profit jumps over two-fold to Rs 733 crore

The bank's total income increased to Rs 5,210 crore in the latest December quarter from Rs 4,840.94 crore a year-ago, the bank said in a regulatory filing

RBI allows HDFC Bank group to buy up to 9.5% stake in ICICI Bank, 5 others

The group will also acquire stakes in Axis Bank, YES Bank Suryoday Small Finance Bank, IndusInd Bank, and Bandhan Bank

HDFC Bank Group gets RBI approval to acquire 9.5% stake each in six banks

RBI's approval is valid for one year from the date of RBI's letter, i.e., till February 4, 2025

RBI clears appointment of whole-time director for 3 years by Bandhan Bank

The lender added that Babbar's three-year tenure will begin from the date of taking charge, which should be within three months from the date (January 17, 2023), of the said RBI approval

HDFC Bank offloads its entire 4.31 per cent stake in Bandhan Bank

Srinivasan Vaidyanathan, Chief Financial Officer of HDFC Bank, has confirmed the development in the post-earnings media call without divulging any details

Bandhan Bank clarifies the NCGTC audit is only on CGFMU loan claims

CGFMU is a government-established trust fund which ensures payment against default for micro loans that are extended to small borrowers

Loan claims under guarantee scheme face audit by govt agency: Bandhan Bank

The bank clarified in an exchange filing that the regulator has not initiated a broader audit

Sebi gets more time in Sharpline case, DSP MF launches multicap fund

In March last year, Sebi had barred 24 entities from the securities market for manipulating share prices of two companies through misleading videos on YouTube channels

Bandhan MF launches multi-asset fund with 50% equities allocation

Multi-asset allocation funds have been the 'flavour of the season' in the hybrid space in financial year 2024 as fund houses have rushed to launch the product post the change in debt fund taxation

Bandhan Bank advances in Q3 FY24 increase by 18.6% to Rs 1.6 trn

Total deposits grew 14.8% to Rs 1.17 trn, lender tells exchanges