Bandhan Bank reports 60 pc jump in loans, advances to Rs 71,825 crore in FY20

Bandhan Bank said on Monday its loans and advances grew by 60 per cent to Rs 71,825 crore in the financial year ended March 31 from Rs 44,776 crore in the year-ago period.

The growth was aided as Ahmedabad-based Gruh Finance -- the affordable housing finance arm of HDFC Ltd with a loan portfolio of Rs 17,700 crore -- merged with the Kolkata-based lender.

Total deposits of Bandhan Bank increased by 32 per cent to Rs 57,073 crore in FY 20 from Rs 43,232 crore in FY 19. Of these, retail deposits grew by 34 per cent to Rs 44,760 crore from Rs 33,445 crore.

The CASA (current account savings account) deposits surged by 19 per cent to Rs 21,028 crore from Rs 17,618 crore in FY 19.

"Deposits from micro-banking customers continue to be strong and stable despite three-weeks of lockdown," the bank said regulatory filings at stock exchanges. "The bank's collection efficiency pan India from January 1 to March 21 stands at 98.7 per cent.

As on March 31, 2020, Bandhan Bank had excess liquidity amounting to Rs 8,402 crore. In addition, the bank is in a position to draw up to Rs 1,815 crore under the marginal standing facility of the Reserve Bank of India.

In January last year, Gruh Finance was taken over by Bandhan Bank in a share-swap deal.

( With inputs from ANI )