Bandhan Bank Deposits Rose 32% In Jan-Mar Quarter

Providing an update on the last quarter of 2019-20, Bandhan Bank in a stock exchange filing said that its total deposits for January-March 2020 rose 32 percent from the same period a year ago and 4 percent from the previous quarter.

Shares of Bandhan Bank were trading over 6 percent lower on NSE on Monday morning and touched an intraday low of Rs 173.50.

As per data released by the private bank on Monday, its total deposits rose from Rs 43,232 crore in March 2019 (Standalone) to Rs 54,908 crore in December 2019 (merged) and Rs 57,073 crore in March 2020 (merged).

Of the total increase, retail deposits formed the bulk at 78.4 percent from 76.2 percent in December. This category of deposits rose by 7 percent to Rs 41,815 crore in December 2019 and 34 percent to Rs 44,760 crore in March from Rs 33,445 crore at the end of FY19.

Loans and advances jumped by 60 percent to Rs 71,825 crore during 2019-20, from Rs 44,776 crore at the end of the previous year. In December 2019, it stood at Rs 65,456 crore.

In October 2019, the Bandhan Bank had merged with Gruh Finance in order to bring down the shareholding of the promoter from 82.26 percent to 60.96 percent.

"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 in its filing.

The lender's capital adequacy ratio at the end of March 2020, stood at 26.7 percent and tier 1 Common Capital Ratio (CET 1) was at about 25.5 percent.