Bandhan Bank garners Rs 7,000 crore deposits

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KOLKATA: Bandhan Bank, which started commercial operations in August last year, has so far garnered deposits worth Rs 7,000 crore, a top official said today.

“In the last five months since start of our operations, we have been able to secure deposits worth Rs 7,000 crore,” the bank’s MD and CEO C S Ghosh told reporters here on the sidelines of a BCCI event.

“This has really exceeded our expectations,” he added.

With a network of 612 branches, the bank has more than 7.5 lakh customers.

“People have reposed faith in the bank. In these five months, deposits worth Rs 7,000 crore have been made. It’s a record of sorts,” Ghosh said.

He added that from the next fiscal, the bank would explore opportunities to extend loans below Rs 1 crore to the MSME sector.

“Corporate lending will come at a later stage. But MSME loans will be the focus as of now,” Ghosh said.

Bandhan Bank is on course to introduce new products in order to consolidate its presence in retail lending operations.