Bandhan bank news
Here are some recent news updates about Bandhan Bank:
Recent News
- Bandhan Bank's Q3FY23 Profit Jumps 34%: Bandhan Bank reported a net profit of ₹1,344 crore for the quarter ended December 31, 2022, a growth of 34% year-on-year. (Source: Business Standard)
- Bandhan Bank Launches 'Bandhan Bank Easy EMI' Scheme: The bank has launched a new scheme, 'Bandhan Bank Easy EMI', which allows customers to convert their credit card transactions into easy EMIs. (Source: The Financial Express)
- Bandhan Bank Partners with NPCI for UPI Payments: Bandhan Bank has partnered with National Payments Corporation of India (NPCI) to enable UPI (Unified Payments Interface) payments for its customers. (Source: The Hindu BusinessLine)
- Bandhan Bank's Asset Quality Improves: The bank's gross non-performing assets (GNPA) ratio improved to 4.44% as of December 31, 2022, from 5.14% in the same period last year. (Source: Moneycontrol)
- Bandhan Bank to Expand Presence in East India: The bank plans to expand its presence in East India, particularly in states like West Bengal, Odisha, and Bihar, through a combination of organic and inorganic growth. (Source: The Economic Times)
Recent Developments
- Bandhan Bank's IPO: Bandhan Bank's initial public offering (IPO) was oversubscribed 1.44 times in 2015, raising ₹4,960 crore.
- Merger with Gruh Finance: Bandhan Bank merged with Gruh Finance in 2019, creating one of the largest private sector banks in India.
- Expansion Plans: Bandhan Bank plans to expand its branch network to 1,500 branches by 2025, from around 1,200 branches currently.
- Digital Banking: The bank has been focusing on digital banking, with over 50% of its transactions being done digitally.
- Partnerships: Bandhan Bank has partnered with various companies, including fintech firms, to offer innovative financial products and services to its customers.
Key Statistics
- Market Capitalization: Bandhan Bank's market capitalization is around ₹1.3 lakh crore (as of February 2023).
- Branch Network: The bank has a branch network of over 1,200 branches across India.
- Customer Base: Bandhan Bank has a customer base of over 20 million customers.
- Assets: The bank's total assets stood at ₹2.3 lakh crore as of December 31, 2022.
- Net Worth: Bandhan Bank's net worth is around ₹24,000 crore (as of December 31, 2022).