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Kolkata-based Bandhan Bank Ltd. reported advances and deposit growth in excess of 20 percent each during the June-September quarter.

For the quarter ended September 30, the lender's gross advances increased 22 percent from last year to nearly Rs 1 lakh crore. However, the figure is before considering any potential write-offs, which will be done when the bank reports full quarterly results.

Deposits of the bank also neared the Rs 1 lakh crore mark, increasing 21 percent year-on-year during the September quarter.

The bank's collection efficiency, or the amount of money collected compared to the amount expected as part of a loan repayment, increased to 97 percent during the September quarter, compared to 96 percent for the June quarter.

CASA or Current Account Savings Account deposits increased 11 percent over the previous year to Rs 40,509 crore. However, CASA deposits were flat if compared to the June quarter.

CASA Ratio or the amount of deposits of the bank that are in current or savings account declined to 40.8 percent for the September quarter, from 44.6 percent during the same quarter last year and 43.2 percent during the June quarter.

Other Key Updates:

Retail Deposits at Rs 73,660 crore, up 7 percent year-on-year

Percentage of retail to total deposits down to 74 percent from 84 percent in September 2021 and 78 percent in June 2022

The bank's Liquidity Coverage Ratio or the amount of high-quality liquid assets that are enough to fund cash outflows for 30 days, stood at nearly 134 percent during the quarter.

Brokerages like Jefferies expected a rebound in Bandhan Bank's earnings momentum last month, calling for potential upsides in excess of 40 percent on the stock. Shares are up 9 percent for the year but down over 20 percent for a 12-month period.

First Published:Oct 8, 2022 2:54 PM IST