For Quick Alerts
For Daily Alerts

Bandhan Bank Deposit Base Crosses Rs 1,500 Crore

By Super

Kolkata, Oct 12 (PTI) Private sector lender Bandhan Bank, which started operations as a full-fledged bank from August this year, has garnered a deposit base of Rs 1,500 crore till date.

"From August 23 (when the bank began operations) till date Bandhan Bank's deposit base crossed Rs 1,500 crore," CMD of bank C S Ghosh told reporters here today. He said that the CASA percentage was 26, the balance being term deposits.

Bandhan Bank Deposit Base Crosses Rs 1,500 Crore

"It is very encouraging that the deposit base has been so good within such a short period. It is of great help to us," Ghosh said.

Bandhan, which transformed itself from a micro-finance institution (MFI) to a bank, is seeking to shore up its deposit base as it could not do so in its erstwhile form.

Ghosh said existing equity investors like SIDBI, IFC and GIC Sovereign Fund of Singapore would jointly put in Rs 500 crore as additional capital in the bank. He has been elected to the management committee of Indian Banks Association (IBA).

Bandhan Bank is the first instance of a micro-finance entity in India transforming into a universal bank. It received an in-principle approval from the RBI in April 2014 and the banking regulator's final nod on June 17, 2015. The bank has 523 branches at present.


Read more about: bandhan bank
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more