Bandhan Bank Share On Focus: Q2 business growth rise 24.6 percent
Bandhan Bank has reported a significant 24.6% increase in its total business for the second quarter of the current financial year, reflecting a strong performance in a competitive market. By the end of September 30, 2024, the bank’s total business reached ₹2,73,163 crore, up from ₹2,19,712 crore during the same period last year. This impressive growth can be attributed to a combination of rising loan disbursements and robust deposit mobilization.
As of the end of the second quarter, the bank’s loans and advances stood at ₹1,30,652 crore, demonstrating its commitment to extending credit to customers across various sectors. Deposits also increased significantly, reaching ₹1,42,511 crore, indicating a healthy influx of customer funds. This growth in both loans and deposits highlights the bank’s effective strategies in enhancing customer trust and expanding its outreach.
However, the bank’s collection efficiency ratio saw a slight decline, dropping to 98.2% from 98.7% in the previous quarter. The micro-credit segment experienced a similar trend, with its collection efficiency ratio falling from 98.8% to 98.1%. While these figures remain relatively high, they suggest potential challenges in maintaining collection standards, which could impact future profitability.
In organizational news, Bandhan Bank has extended the tenure of its interim MD & CEO, Ratan Kumar Kesh, for an additional month, effective October 10, 2024. This extension allows for continuity in leadership as the bank navigates its growth trajectory and addresses the challenges in collection efficiency.
News Source – Money.Rediff
