Bandhan Bank’s advances grow 8% y-o-y in Q1

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In a stock exchange filing on Thursday, the Kolkata-based lender said for the quarter ended June its loan and advances increased approximately to Rs 80,128 crore from Rs 74,331 crore for the same period a year ago.

Total deposit grew 28% y-o-y at Rs 77,336 crore, while it witnessed a de-growth of 1% q-o-q from Rs 77, 972 crore in January-March.

Private sector lender Bandhan Bank registered an 8% year-on-year growth in its advances for the first quarter this fiscal. However, on a quarter-on-quarter basis, advances fell 8%.

In a stock exchange filing on Thursday, the Kolkata-based lender said for the quarter ended June its loan and advances increased approximately to Rs 80,128 crore from Rs 74,331 crore for the same period a year ago. Loan and advances stood at Rs 87,043 crore at the end of March quarter last fiscal. Total deposit grew 28% y-o-y at Rs 77,336 crore, while it witnessed a de-growth of 1% q-o-q from Rs 77, 972 crore in January-March.

The bank’s overall collection efficiency for the month of June was around 80% (considering all customers, including NPA customers) as against around 96% in March. Collection efficiency for the microfinance segment in June fell to around 72% from about 95% in March this year.

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