Bandhan Bank’s deposits surge 32% in FY20; collections stable despite coronavirus lockdown

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Published: April 13, 2020 5:24:23 PM

Private sector lender Bandhan Bank’s deposits have risen by 32% to Rs 50,073 crore in the previous fiscal ending March 2020 as opposed to Rs 43,232 crore at the end of March 2019.

Majority of the deposits were formed by retail deposits which amount to over 78% of the total deposits.

Private sector lender Bandhan Bank’s deposits have risen by 32% to Rs 50,073 crore in the previous fiscal ending March 2020 as opposed to Rs 43,232 crore at the end of March 2019. Majority of the deposits were formed by retail deposits which amount to over 78% of the total deposits, the bank said in a BSE filing on Monday. However, on a quarterly basis, the deposits have risen by 4%. The bank’s retail deposits stood at Rs 33,445 crore in FY19. While the country has been under a 21-day lockdown in the wake of the coronavirus, the deposits from micro-banking customers continue to be strong and stable.

“The bank’s collection efficiency pan-India from January 1 to March 21, 2020 stands at about 98.7 per cent. Total overdue (0+ days past due) as on March 31, 2020 lower than December 31, 2019,” the bank said. The bank also said that the data for March 31, 2019 are on a standalone basis while data for December 2019 and March 2020 are of the merged entity as the private sector lender had merged with Gruh Finance in October 2019. The same was done in order to bring down shareholding of the promoter from earlier 82.26% to 60.96%. 

Further, the loans and advances of the have also seen an upward trajectory with an increase of 60% to Rs 71,825 crore as on March 31, 2020. The same stood at Rs 44,776 crore a year ago. “As on March 31, 2020, the bank was having excess liquidity amounting to about Rs 8,402 crore. In addition, the bank is in a position to draw up to nearly Rs 1,815 crore under MSF (marginal standing facility which is the rate at which banks can borrow overnight loans from RBI against the approved government securities) of RBI,” the bank said. 

Meanwhile, the shares of the Kolkata-headquartered bank closed at Rs 193 apiece on BSE, up 0.34% from previous close.

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