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<ul><li>As per a tweet by Motilal Oswal, <keyword id="6808641" type="UNKNOWN" weightage="20" keywordseo="Bandhan-Bank-stock">Bandhan Bank stock</keyword> will be added to MSCI index effective from October 16.</li><li>Bandhan is a long -term compounder and will be able to consistently deliver over 30% growth, said a research report by Axis Capital.</li><li>The merger with Gruh Finance will also allow the rapidly expanding Bandhan Bank with an extended portfolio of loans.</li></ul> Kolkata-based lender Bandhan Bank which has been servicing rural women with small loans, is now expected to hit the big leagues soon. As per a tweet by Motilal Oswal, the bank’s stock will be added to the MSCI index effective from October 16. Investors celebrated the huge feat by a 5-year old bank and the shares jumped nearly 10%, hitting the upper circuit, after which the exchanges halted trading in the company’s shares. MSCI is Morgan Stanley Capital International index is headquartered in New York. It enters a league of top stocks which will also provide by access to global investors, institutions and funds. As per the brokerage firm, this is an effect of its merger with Ahmedabad-based Gruh Finance which recently received an approval from National Company Law Tribunal. Even before the MSCI entry, Bandhan has been one of the rare banking success stories in India. “It is well placed to deliver industry-leading return ratios with a high-yielding assetbook on one side and robust low-cost deposit franchise on the other. Bandhan is a long term compounder and will be able to consistently deliver over 30% growth,” said a research report by Axis Capital in early September. The merger with Gruh Finance will also allow the rapidly expanding Bandhan Bank with an extended portfolio of loans. Currently, around 90% of the bank’s portfolio consists of small loans only. Gruh Finance, as the name suggests, provides housing loans mostly to rural populace. This loan portfolio will provide diversity to the primarily entrepreneurship-based loans that Bandhan currently provides. The shares of Bandhan hit an upper circuit at ₹608 per share in today’s trade, increasing by over 9% in the morning trade. The stock of Gruh Finance also rose by around 7.9% as of 12 pm. <div type="image" title="Coffee Day Global Ltd. is incorporated, in order to start the cafe business (1) (2)" tempid="101146" msid="71541429" hostid="261"></div>

A five-year-old bank lending to poor women in rural India has made it to MSCI in New York

Private lender <keyword id="2240511" type="General" weightage="20" keywordseo="bandhan-bank" source="Orion">Bandhan Bank</keyword> on Wednesday said it has been authorised by the Reserve Bank of India (RBI) to disburse <keyword id="6354432" type="General" weightage="20" keywordseo="pension" source="Orion">pension</keyword> to <keyword id="19806630" type="General" weightage="20" keywordseo="retired-railways-employees" source="Orion">retired railways employees</keyword>. In a statement, the bank said the lender will shortly integrate its system with the railways ministry to operationalise the pension disbursement process. The mandate will give the bank access to around 50,000 retirees each year across 17 zonal offices and eight production units of the railways across the country. Debraj Saha, head (government business), Bandhan Bank, said, "Indian Railways is one of the largest employers in the country. This will help <keyword id="6379276" type="General" weightage="20" keywordseo="pensioners" source="Orion">pensioners</keyword> to get access to competitive rates offered by the bank and other products of the lender."

RBI authorises Bandhan Bank to disburse pension to retired railway employees

New Delhi, Feb 25 () The Reserve Bank on Tuesday allowed Bandhan Bank to expand its branch network after considering the efforts made by the private lender to comply with the licensing conditions. The central bank in September 2018 had barred Bandhan Bank from expanding its network as the lender failed to reduce the promoters' stake to 40 per cent from close to 82 per cent within the stipulated three-year time frame of commencing operations. "We would like to inform that the Reserve Bank of India vide its letter dated February 25, 2020 has informed that though the bank is still not in compliance with the licensing condition on dilution, considering the efforts made by the bank to comply with the said licensing condition," Bandhan Bank said in a regulatory filing. Currently, the promoters' holding in the bank is 62 per cent. The bank said RBI has lifted the regulatory restriction on branch opening, subject to the condition that the bank ensures that at least 25 per cent of the total number of banking outlets opened during a financial year are opened in unbanked rural centres, it added.Bandhan Bank had commenced operations on August 23, 2015.According to RBI's bank licence norms, a private sector bank's promoter will need to pare holding to 40 per cent within three years, 20 per cent within 10 years and to 15 per cent within 15 years. Bandhan Bank currently has 4,288 banking outlets, including branches. Bandhan Bank shares closed at Rs 403.85 on BSE, down 1.15 per cent from previous close. KPM dc SOM MR

RBI lifts ban on Bandhan Bank network expansion

<ul><li>Sensex gained 0.59% to 38,273.73 points during the initial trade.</li><li> The Nifty50 rose 0.59% to 11,314.00. </li><li>These are the top stocks that are buzzing the D-street today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Despite the mixed cues from global markets, Indian stock market opened on a positive note on Tuesday with the BSE Sensex gaining 0.59% to 38,273.73 points during the initial trade. The Nifty rose 0.59% to 11,314.00. On the Nifty50 chart, Grasim, ONGC, Eicher, Titan and UPL Limited were among the top gainers - rising as much as 5%, whereas, Indusind Bank, Tech M, JSW Steel were among the top losers. These are the top stocks that are buzzing on D-street today. Tata Motors gained nearly 2% during the morning trade <div type="image" title="Tata Motors August 18" msid="77605551" hostid="261"></div> Tata Motors gained nearly 2% during the morning trade after the company refuted claims of stake sales in its premium car segment JLR. The company said there is adequate liquidity with the company to manage its operations and capital expenditure. Yes Bank gained 3% during the early trade hours <div type="image" title="yes Bank August 18" msid="77605556" hostid="261"></div> Yes Bank shares gained 3% during the early trade hours after the bank in a notice to shareholders for the AGM said that it is looking at trebling up stock options to be granted to senior executives to 22.5 crore, which can be seen as a move to retain talent. SBI Cards up over 2% <div type="image" title="SBI cards August 18" msid="77605595" hostid="261"></div> The share price of SBI Cards was trading up over 2% after the company said it raised ₹500 crore via 5.75% 2023 bonds. Bandhan Bank gains nearly 2% <div type="image" title="Bandhan Bank August 18" msid="77605647" hostid="261"></div> Bandhan Bank shares gained nearly 2% after the Reserve Bank of India (RBI) lifted the restriction regarding the remuneration of Bandhan Bank’s MD and CEO after the promoter shareholding was brought down to 40% in line with the central bank’s norms. In September 2018, the RBI, among other restrictions, said that the remuneration of the MD and CEO of Bandhan Bank stands frozen at the existing level in view of non-compliance with RBI’s licensing norms for new private sector banks. Britannia gains nearly 2% during early hours of trading <div type="image" title="Britannia shares August 18" msid="77605697" hostid="261"></div> FMCG major Britannia gained nearly 2% during early hours of trading after the company said its board has declared an interim dividend of ₹83 per share for the current fiscal and approved issue of bonus debentures. Reliance Industries trades 2% higher <div type="image" title="RIL August 18" msid="77605757" hostid="261"></div> Reliance Industries shares were trading 2% higher after the Supreme Court asked Centre to clarify its stand on why Reliance Jio, which is earning revenue by sharing Reliance Communication’s (RCom) spectrum be not asked to pay the AGR related dues to the government. The Supreme Court will continue hearings in the AGR case today. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-today-ril-sbi-cards-hal-manappuram-airtel-bandhan-bank-britannia/slidelist/77603872.cms" data-type="tilCustomLink"> Top stocks to watch today— RIL, SBI Cards, HAL, Manappuram, Airtel, Bandhan Bank and more</a> <a href="https://www.businessinsider.in/business/startups/news/oyo-byjus-investor-lightspeed-india-closes-its-third-fund-with-275-million/articleshow/77603896.cms" data-type="tilCustomLink">OYO, Byju's investor Lightspeed India closes its third fund with $275 million</a>

Top stock movers on Dalal Street today — Tata Motors, SBI Card, Bandhan Bank, RIL, Britannia

Kolkata, Mar 11 () Bandhan Bank on Wednesday saidit has opened three new branches, taking the total numberacross India to 1,013.The Kolkata-based lender also opened 122 bankingoutlets in the form of small-format units.A Bandhan Bank official said the development comesdays after the Reserve Bank of India (RBI) lifted restrictionson new branch openings for the lender."We are happy that with the withdrawal of restriction,we will be able to expand business growth rapidly," MD &amp; CEOChandra Shekhar Ghosh said.The bank has presence in 34 states.The total business of Bandhan Bank stood at Rs1,20,364 crore as on December 31, 2019, it said in a release. DCRBT RBT

Bandhan Bank opens 3 new branches, 122 banking outlets

<keyword id="2240511" type="General" weightage="80" keywordseo="bandhan-bank" source="Orion">Bandhan Bank</keyword> on Wednesday reported over three- fold jump in net profit at Rs 721 crore for the second quarter ended September 30, 2023. The Kolkata-headquartered private sector lender had posted a profit of Rs 209.30 crore for the same quarter a year ago. Total income during July-September this fiscal rose to Rs 5,032 crore as against Rs 4,250 crore in the same period of 2022-23, Bandhan Bank said in a regulatory filing. Net interest income grew to Rs 2,443 crore in Q2 FY24 from Rs 2,193 crore in Q2 FY23. On the <keyword id="6382596" type="General" weightage="20" keywordseo="asset-quality" source="Orion">asset quality</keyword> front, the lender reported deterioration as gross non-performing assets (NPAs or <keyword id="142154" type="General" weightage="20" keywordseo="bad-loans" source="Orion">bad loans</keyword>) rose to 7.32% of gross advances at end-September 2023 from 7.19% by the end of second quarter of 2022-23. Likewise, net NPAs or bad loans also increased to 2.32%, from 1.86%. However, provision (other than tax) &amp; contingencies declined to Rs 636 crore from Rs 1,280 crore in the same quarter a year ago. Net interest margin of the bank improved to 7.2% in Q2 FY24 from 7% in Q2 FY23.

Bandhan Bank Q2 profit jumps over 3-fold to Rs 721 crore

New Delhi, Feb 26 () Shares of Bandhan Bank on Wednesday jumped nearly 5 per cent in early market hours after RBI allowed the private sector lender to expand its branch network. In September 2018, the central bank had barred Bandhan Bank from expanding its network as the lender failed to reduce the promoters' stake to 40 per cent from close to 82 per cent within the stipulated three-year time frame of commencing operations. On the BSE, the stock gained 4.8 per cent to trade at Rs 423.25. Later, it was trading with marginal gains of 0.78 per cent at Rs 407 per unit. Similarly, on the NSE, the stock jumped 4.72 per cent to Rs 423. After shedding most of the early gains, it was quoting at Rs 406.80, up 0.72 per cent. The Reserve Bank of India (RBI) on Tuesday allowed Bandhan Bank to expand its branch network after considering the efforts made by the private lender to comply with the licensing conditions.The bank said RBI has lifted the regulatory restriction on branch opening, subject to the condition that the bank ensures that at least 25 per cent of the total number of banking outlets opened during a financial year are opened in un-banked rural centres, it added. RUJ ANSANS

Bandhan Bank shares rally 5 pc after RBI allows network expansion

New Delhi, May 12 () Bandhan Bank on Tuesday said its net profit for March quarter, 2019-20 stood at Rs 517.28 crore. The Kolkata-headquartered lender said it has made special provisions related to COVID-19, during the quarter. The bank registered a net profit of Rs 650.87 crore during January-March, 2018-19. In view of the amalgamation with GRUH Finance, the figures for the latest quarter/fiscal are not comparable with the year-ago periods, Bandhan Bank said in a regulatory filing. Total income in March quarter was Rs 3,346.47 crore. It was Rs 2,220.32 crore in the year-ago period, it said. The bank made provisions for bad loans and contingencies to the tune of Rs 827.36 crore during the quarter under review, substantially higher from Rs 153.28 crore in the year-ago same period. Gross non performing assets (NPAs) fell to 1.48 per cent of the gross advances as on March 31, 2020 from 2.04 per cent by the same period of 2019. In value terms, gross NPAs or bad loans stood at Rs 992.77 crore at the end of March 2020 as against Rs 819.55 crore by the same period of 2018-19. Net NPAs remained static at 0.58 per cent of the net advances. However, in absolute numbers, it stood at Rs 389.39 crore at the end of 2019-20, higher than Rs 228.32 crore by the end of the preceding fiscal. For the entire 2019-20, the net profit of the bank stood at Rs 3,023.74 crore. It was Rs 1,951.50 crore in 2018-19. Income was at Rs 12,434.69 crore during the year. It was Rs 7,706.42 crore in the preceding fiscal."Q4FY20 has been a satisfying quarter given the challenges faced during the quarter. During the quarter, the Bank has showcased the strengths of its deposit franchise with continuously growing deposits in all the segments," Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank said. The bank has made additional COVID-19 related provision on standard advances amounting to Rs 690 crore, he said. "We have taken all the necessary steps to ensure safety of our customers and employees. We further endeavour to work with our employees and customers ensuring to be at the service in this critical time," Ghosh said. "In view of the amalgamation(with GRUH Finance), the figures for the current quarter/year are not strictly comparable with the corresponding figures of the previous quarter/year," Bandhan Bank said. The Committee of Directors of the Bank at its meeting held on October 21, 2019 had approved allotment of 41,69,48,659 equity shares to the eligible equity shareholders of erstwhile GRUH Finance. Bandhan Bank stock closed 2.36 per cent down at Rs 233.95 on the BSE. KPM ANUANU

Bandhan Bank Q4 profit at Rs 517 cr

New Delhi, Feb 26 () Shares of Bandhan Bank on Wednesday reversed its early gains and closed over 2 per cent lower. The stock traded in the green only during early market hours and then went on to fall for most of the trading session. In a highly volatile trade on the BSE, the stock gained as much as 4.8 per cent to Rs 423.25 and after some time traded at its 52-week low of Rs 391.55. Finally, it settled 2.28 per cent lower at Rs 394.25. Similarly, on the NSE, the stock jumped 4.72 per cent to Rs 423 and then lost 3.11 per cent to hit its 52-week low of Rs 391.30. The scrip settled at Rs 392.50, 2.82 per cent lower over the previous close. More than 72 lakh shares of Bandhan Bank were traded on the NSE and 3.34 lakh on the BSE. The RBI on Tuesday allowed Bandhan Bank to expand its branch network after considering the efforts made by the private sector lender to comply with the licensing conditions. The bank said the RBI has lifted the regulatory restriction on branch opening, subject to the condition that the bank ensures that at least 25 per cent of the total number of banking outlets opened during a financial year are opened in un-banked rural centres, it added. RUJ ANUANU

Bandhan Bank shares reverse early gains, fall over 2 pc

Kolkata, Jul 15 () Bandhan Bank on Wednesday reported a 31.6-per cent on-year decline in net profit to Rs 550 crore during the April-June quarter. The lender's bottomline in the corresponding period a year ago was Rs 804 crore. A Bandhan Bank statement said it has taken accelerated additional provision on standard assets amounting to Rs 750 crore, due to the COVID-19 pandemic. Operating profit during the quarter grew by 16.8 per cent to Rs 1,584 crore as against Rs 1,356 crore a year ago. The lender's deposits grew by 6.18 per cent quarter- on-quarter, the statement added. DC RBT RBT

Bandhan Bank net profit falls 31.6pc to Rs 550cr in April-June

Mumbai, Aug 17 (IANS) The Reserve Bank of India (RBI) has lifted the restriction regarding the remuneration of Bandhan Bank's MD and CEO after the promoter shareholding was brought down to 40 per cent in line with the central bank's norms. In September 2018, the RBI, among other restrictions, said that the remuneration of the MD and CEO of Bandhan Bank stands frozen at the existing level in view of non-compliance with RBI's licensing norms for new private sector banks. As per the licensing guidelines, the non-operative financial holding company (NOFHC) was required to bring its excess shareholding to 40 per cent of the paid-up voting equity capital of the bank. In a regulatory filing on Monday, the bank said: "The RBI vide its communication dated August 17, 2020 has lifted the other regulatory restriction 'the remuneration of the MD and CEO of the Bank stands frozen, at the existing level'." The bank noted that post the latest decision of the central bank, all the regulatory restrictions imposed by the RBI through the letter dated September 19, 2018 on the bank are now withdrawn. The development comes a fortnight after Bandhan Financial Holdings Limited lowered its stake in the by 20.95 per cent through a block deal earlier this month.Post the deal, the holding company's stake in the bank is at 40 per cent. --IANS rrb/sn/arm

RBI lifts restriction on remuneration of Bandhan Bank MD

Kolkata, Apr 15 () Private lender Bandhan Bank doesnot apprehend any repayment issues owing to the nationwidelockdown to contain the spread of COVID-19, a top bankofficial said.Recovery, however, has been halted at present due tothe curbs.MD and CEO of Bandhan Bank Chandrasekhar Ghosh saidrepayments should not be a cause for concern as borrowers'businesses are continuing."Recovery of micro loans from borrowers have stoppedfrom March 23," Ghosh told .He said since bank personnel cannot physically go tocollect the loan repayment amount, the outstanding will remainat the previous level.Ghosh said interest will be recovered at the time ofrepayment, irrespective of whether the customer opted for thethree-month RBI moratorium."We are explaining to our customers that the costsinvolved in opting for the moratorium are high since theinterest will be compounded at the time of repayment," anotherbank official said.In case of micro-finance, repayments are made on aweekly basis (equated weekly instalments), and not as EMIs.The official said most of the bank's customers areapprised of the costs of opting for the moratorium and areagreeable to repay as per schedule.Earlier during the start of the bank in August 2015,exposure to the micro-banking sector was almost 80 per cent oftotal advances.Ghosh had earlier said the lender's aim is to lowerthe micro-banking exposure to 50 per cent. After its mergerwith Gruh Home Finance, the exposure had come down to around61 per cent as on December 31.As on March 31, Bandhan Bank's total loan book stoodat Rs 71,825 crore, reflecting a 60 per cent year-on-yeargrowth.Deposits from the micro-banking sector continues to bestrong and stable, despite the lockdown, Ghosh added. DCRBT RBT

Lockdown: Bandhan Bank sees no problem in loan repayments

New Delhi, May 21 () Kolkata-headquartered Bandhan Bank on Thursday said its services have been impacted in some areas of West Bengal and Odisha due to Amphan and the cyclone is likely to impact business worth Rs 260 crore. The lender expects to resume banking services in these areas shortly. Cyclone Amphan struck five districts in southern West Bengal and northern coastal Odisha starting in the afternoon of Wednesday and lasting till the wee hours of the morning of Thursday. As per the initial assessment, in our areas of operations, 49 banking units (micro banking outlet) in five districts were impacted, of which 45 are operational on Thursday, Bandhan Bank said in a regulatory filing. The bank could continue operations in all but five branches in the affected districts. "Where the outlets could not continue services, it was due to issues in accessibility. We expect these outlets to resume operations shortly," it said. The new-age bank said the banking outlets in the areas that had received prior warning of the cyclone were prepared with necessary safety and business continuity measures which enabled continuity of operations. "As per our estimate, the business of around 65,000 of our micro banking borrowers, amounting to an exposure of about Rs 260 crore, could be impacted due to the cyclone." The major impact has been in the district of South 24 Parganas. "In our experience of Fani, the cyclone that caused large-scale damage in Odisha in May 2019, the impacted portfolio took 3 to 6 months to achieve normalcy, aided by the committed workforce and customer loyalty. "On the back of this experience, we expect the Amphan-affected portfolio to regularise by the third quarter of 2020-21," it said. Bandhan Bank also informed that all its employees were safe during the cyclone. KPM HRS

Cyclone Amphan: Bandhan Bank services impacted in some areas of West Bengal, Odisha

The revision in income tax rates will increase the purchasing power of the middle class sections of the society and thus, push the economic growth of the country in the long run, Kolkata-headquartered <keyword id="2240511" type="General" weightage="100" keywordseo="bandhan-bank" source="Orion">Bandhan Bank</keyword>'s founder, Managing Director and Chief Executive <keyword id="2584765" type="General" weightage="80" keywordseo="chandra-sekhar-ghosh" source="Orion">Chandra Sekhar Ghosh</keyword> said. According to him, the increase in the purchasing capability of the middle class will push the demands of the products and this will positively impact the economy of the nation. "Of course there is an expression of shooting up of the inflation slightly because of this increase in the purchasing capacity of the middle class. However, considering the multiple positive aspects of the tax rate revision, in my opinion, that threat will not impact the economy in a major way," <keyword id="4757" type="General" weightage="80" keywordseo="ghosh" source="Orion">Ghosh</keyword> said. He also said that the income tax exemption will also indirectly help the banking sector on the deposits side. "Excess money in hand will prompt people to go for additional savings and this will improve the deposit side of the banks which is in a difficult shape now," the Bandhan Bank MD &amp; CEO said. He was especially enthusiastic about the new "Mahila Samman Saving Certificate", that will allow women a maximum deposit of up to Rs 2,00,000 having a maximum interest of 7.5 per cent for two years till March 2025. "This will definitely drive women towards savings and in my opinion this scheme is extremely innovative," he said. He also pointed out that Fiance Minister <keyword id="129243" type="General" weightage="80" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword>, in her budget speech, stressed on infrastructure development as well as development of the MSME and start-up sectors. "This is a positive step towards employment generation, since whenever there is infrastructure development there is opportunity for employment generation. Similarly, MSME and start-up sectors generate employment and these two sectors have been addressed well in the budget speech," Ghosh added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-zooms-as-finance-minister-delivers-tax-bonanza-to-middle-class/articleshow/97510050.cms">Sensex zooms 1,180 points as FM delivers tax bonanza to middle-class</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/government-to-set-up-three-centres-of-excellence-in-artificial-intelligence/articleshow/97520242.cms">Budget 2023 gives a boost to artificial intelligence – government to set up three centers of excellence</a>

Tax rate revision will increase purchasing power of middle class: Bandhan Bank CEO

(Eds: Adding details) New Delhi, Jul 15 () Private sector Bandhan Bank on Wednesday reported nearly 32 per cent decline in net profit to Rs 549.82 crore for April-June quarter of the current fiscal, mainly due to additional provisioning in the wake of COVID-19. The Kolkata-headquartered lender had posted a net profit of Rs 803.62 crore in the corresponding quarter previous fiscal. Sequentially, the profit in June quarter FY21 was higher, compared to Rs 517.28 crore in March 2020 quarter. The bank's provision for bad loans and contingencies jumped multi-fold to Rs 849.06 crore for April-June quarter as against Rs 125.36 crore parked aside for the same quarter in FY20, it said in a regulatory filing. Total income of the bank increased to Rs 3,404.84 crore over Rs 2,962.33 crore in the year-ago period on the back of healthy interest income. Interest income of the lender jumped to Rs 3,018.09 crore from Rs 2,631.30 crore. On the asset quality front, the lender witnessed improvement as the gross non-performing assets (NPAs) fell to 1.43 per cent of the gross advances by end of June 2020, from 1.70 per cent in the same month of 2019. In absolute value, the gross NPAs or bad loans stood at Rs 1,006.67 crore as against Rs 1,019.70 crore. Likewise, the net NPAs came down to 0.48 per cent (Rs 335.77 crore) from 0.59 per cent (Rs 347.50 crore). The merger of erstwhile Gruh Finance Limited (Gruh) with Bandhan Bank Limited had been approved by the Reserve Bank of India, Competition Commission of India, stock exchanges, respective shareholders and creditors of each entities as applicable and the National Company Law Tribunals (NCLT) Bench at Kolkata and Ahmedabad, with appointed date as January 1, 2019 and effective date as October 17, 2019, it said in the filing. "In view of the amalgamation, the figures for the quarter ended June 30, 2019 have been arrived on the basis of aggregation of the separate results of the bank and Gruh for the said period, published earlier, i.e. prior to the effective date of amalgamation," it added. Bandhan Bank said its deposit increased by 35.30 per cent year-on-year to Rs 60,610 crore. Accelerated additional provision on standard advances amounting to Rs 750 crore taken for COVID-19 to further strengthen the balance sheet, it said. "With this provision and additional standard assets provision that bank is carrying in micro banking portfolio total additional provision in books stands at Rs 1,769 crore." Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank said: "During the quarter, we have started collections post unlocking announced by the government. Overall bank collections improved to 76 per cent by end of June 2020 compared to 29 per cent in April 2020. "We continued to showcase the strengths of our retail deposit franchise with strong growth of 35 per cent during this difficult time, especially CASA (current account savings account) growing by over 47 per cent." Also, the lender added 2.13 lakh customers during the quarter with total customer base at 2.03 crore as on June 30, 2020. As on June 30, 2020, the total number of branches, banking units and ATM network stood at 1,018, 3,541 and 485 respectively, the bank said. Stock of Bandhan Bank closed at Rs 349.65 apiece on BSE, down 0.78 per cent from previous close. KPM BAL

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