Bandhan Bank business grows 24.6 per cent in Q2

Kolkata: Bandhan Bank reported a 24.6 per cent growth in its total business during the second quarter of the current financial year, according to a regulatory filing with the exchanges. At the conclusion of September 30, 2024, the overall business reached Rs 2,73,163 crore, showing a 24.6 percent increase from the Rs 2,19,712 crore recorded in the same period before.

The bank stated that loans and advances at the end of the current second quarter were Rs 1,30,652 crore, with deposits reaching Rs 1,42,511 crore. The bank's collection efficiency ratio decreased to 98.2 per cent in the second quarter of the current financial year from 98.7 per cent in the previous quarter across all business verticals.              

The lender's micro-credit business had a collection efficiency ratio of 98.1 per cent at the end of the second quarter of the current fiscal year, compared to 98.8 per cent in the previous quarter ending June 30, 2024. At the same time, the bank has also prolonged the term of interim MD&CEO Ratan Kumar Kesh by one month starting from October 10.