Bandhan Bank FY20 deposits rise 32% to Rs 57,073 cr; advances jump by 60% to Rs 71,825 cr

New Delhi: Bandhan Bank on Monday said its total deposits grew by 32 percent to Rs 57,073 crore during the fiscal ended March 2020.

The bank had total deposits of Rs 43,232 crore as at end of March 2019.

The retail deposits formed the bulk of the total deposits at 78.4 percent, which showed an increase of 34 percent to Rs 44,760 crore as on 31 March, 2020, Bandhan Bank said in a regulatory filing.

The bank’s retail deposits stood at Rs 33,445 crore in the year-ago fiscal.

The data compares the standalone business as on 31 March, 2019, to that of merged entity by end of 31 March, 2020.

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

Loans and advances jumped by 60 percent to Rs 71,825 crore during 2019-20, from Rs 44,776 crore.

The bank said that the percentage of microbanking deposits to total deposits was 5.7 percent by the end of fiscal FY20.

On microbanking business, Bandhan Bank said its collection efficiency pan-India for the period from 1 January, 2020, till 21 March, 2020, stands at nearly 98.7 percent.

“Further, deposits from microbanking customers continues to be strong and stable despite three weeks of lockdown,” Bandhan Bank said.

Liquidity coverage ratio (LCR) as on 31 March, 2020, stood at nearly 161 percent.

“As on 31 March, 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,” it said further.

The lender’s capital adequacy ratio as on 31 March, 2020, stood at 26.7 percent and tier 1 Common Capital Ratio (CET 1) was at about 25.5 percent.

The Kolkata-headquartered bank said these figures were provisional unaudited numbers and were subject to review/examine by the audit committee and board of directors as well by the statutory auditors of the bank.

Shares of Bandhan Bank were trading at Rs 175.85 apiece on BSE, down 8.55 percent from their previous close.