Bandhan Bank is aiming to double its banking business at Rs 4 trillion in next three years considering its current year-on-year (y-o-y) growth, said the bank’s founder Chandra Shekhar Ghosh.
“At present our pan-India business is more than Rs 2 trillion. We have strong presence in the eastern part of the country, but now we are expanding in the western and southern states aggressively including that of Gujarat. In the process, the bank is all set to further broaden its customer base from 2.83 crore to over 4 crore by the end of 2025,” said Ghosh who is also managing director and CEO of the bank.
The bank mobilised deposits of over Rs 96,331 crore and its total advances stood at over Rs 99,338 crore as of March 31, 2022 through more than 5,600 branches across the country. According to Ghosh, in the next three years, its branch network will easily cross the 8,000 mark in India.
Kolkata-headquartered bank is giving a digital push for better customer service. Per day nearly 7.5 lakh digital transactions are being processed by all the branches across India, claimed Ghosh.
Talking about the Gujarat plan of the bank, he said that Bandhan bank wanted to triple its presence by 2025 in the state by increasing the number of branches, home loan centres and business units. It is also in the process of recruiting 2,000 employees in the state in the next three years.
At present, the bank has 88 branches and home loan centres in the state and by 2025 the management is planning to open 160 new branches/ home loan centres in Gujarat. Moreover, it will open 270 banking units in the state, especially in smaller towns.
In 2019, Bandhan Bank acquired Home Loan NBFC Gruh Finance, which has a strong presence in Gujarat. Currently, the bank has a customer base of 7.5 lakh which include 1.5 lakh housing loan customers. Against the deposit of Rs 2,500 crore, the bank’s advances in Gujarat are nearly Rs 8,000 crore. Compared to any other state in India, the bank has the highest credit deposit (CD) ratio of 320% in Gujarat.