Bandhan Bank FY20 deposits rise 32% to Rs 57,073cr

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 bulk of the total deposits at 78.4 percent, which showed an increase of 34 percent to Rs 44,760 crore as on March 31, 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 March 31, 2019, to that of merged entity by end of March 31, 2020.

In October 2019, the had bank merged with Gruh Finance in order to bring down 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 January 1, 2020, till March 21, 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 March 31, 2020, stood at nearly 161 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," it said further.

The lender's capital adequacy ratio as on March 31, 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.