 "Bandhan bank")
Bandhan Bank’s total advances increased by 18.6 per cent to Rs 1.6 trillion in the third quarter of Financial Year 2023-24 (Q3 FY24) from Rs 97,787 crore in the same period in FY23.
Advances increased by 7.7 per cent from Rs 1.08 trillion in Q2 FY24.
As per the lender’s exchange filing, the Rs 1.6 trillion in advances was calculated after reducing a portfolio sale of non-performing assets amounting to Rs 720 crore.
In Q3 FY24, total deposits grew by 14.8 per cent year-on-year (YoY) to Rs 1.17 trillion from Rs 1.03 trillion. Compared to Q2 FY24, deposits were up 4.8 per cent.
The bank’s CASA deposits increased by 14 per cent YoY to Rs 42,413 crore. Retail deposits, including CASA, grew by 19 per cent to Rs 84,563 crore and bulk deposits inched up by 5.2 per cent to Rs 32,859 crore.
The CASA ratio of the bank slipped to 36.1 per cent from 36.4 per cent in the year ago period. In Q2 FY24, the CASA was 38.5 per cent.
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In collection efficiency, east and north eastern region (EEB) and Non-EEB achieved a strong performance, reaching 98 per cent by the end of December 31, 2023.
Overall, the pan bank efficiency stood at 98 per cent.
At 12:35 pm on Thursday, Bandhan Bank was up 2.99 per cent higher at Rs 261.50 on the National Stock Exchange.
