Bandhan Bank has released its financial update for the quarter ended September 30, 2024, showcasing impressive growth in both deposits and advances. The bank’s loans and advances (on book + PTC) grew by 21.4% YoY, reaching ₹1,30,652 crore, and saw a 4% QoQ increase.
Key highlights:
- Total deposits surged by 27.2% YoY to ₹1,42,511 crore, with a 7% QoQ growth.
- CASA deposits climbed to ₹47,284 crore, reflecting a 9.5% YoY rise and 6.4% QoQ increase.
- Retail deposits, including CASA, totaled ₹96,603 crore, up by 16.4% YoY and 4.9% QoQ.
- Bulk deposits witnessed a substantial rise of 57.8% YoY, reaching ₹45,908 crore.
- The CASA ratio stood at 33.2%, while retail to total deposits ratio decreased slightly to 67.8%.
Additionally, the Liquidity Coverage Ratio (LCR) for the quarter was approximately 162.1%.
Bandhan Bank also reported collection efficiency for the September quarter, with the EEB segment at 98.1% and non-EEB at 98.7%.
These provisional numbers are subject to review by the Audit Committee and statutory auditors.
