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Bandhan Bank FY20 net profit shoots up by more than 54 pc
Kolkata/UNI: Bandhan Bank FY20 net profit has grown 54.96 per cent (YoY) at Rs3,024 crore after taking COVID-19 provision on standard advances amounting to Rs 690 crore and deposit increased by 32.04 per cent (YoY) to Rs57,082 crore.
The Board of Directors of Bandhan Bank Ltd., at a meeting held in Kolkata today approved its Financial Results for the Quarter and full Yearly ended March 31, 2020.
The accounts have been subjected to an audit by the statutory auditors of the bank.
In view of the amalgamation with GRUH Finance, the figures for the current quarter are not comparable with the corresponding figures of previous year/period.
Commenting on the performance, Mr. Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank said, " 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. "
" The Bank has made additional COVID-19 related provision on standard advances amounting to Rs690 crore. We have taken all the necessary steps to ensure safety of our customers and employees. We further endeavor to work with our employees and customers ensuring to be at the service in this critical time. "
Banking outlets as on March 31, 2020, stood at 4,559.
The network consists of 1018 branches, 3,346 banking units (DSC) and 195 GRUH Centers as against 986 branches and 3,014 banking units (DSC) as on March 31, 2019.
Total number of ATMs stood at 485 as on March 31, 2020 against 481 as on March 31, 2019.
During the year, the number of employees of the bank has gone up from 32,342 to 39,750.
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