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Thursday, February 11, 2016

Bandhan Bank targets growth of 30 pct by 2017-end

Kolkata headquartered Bandhan Bank, which began commercial operations last year has said that it is targeting growth on the deposit as well as credit front by at least 30 per cent by 2017-end. Commenting on the issue, Bandhan Bank Managing Director and CEO C.S. Ghosh told the media, “Our deposits now stand at Rs.7,500 crore of which more than one-third is from retail customers. On the credit front, by March this year, it will reach around Rs 14,000 crore. As a bank, we expect to grow at anything between 30 per cent to 40 per cent in the next financial year in both credit and deposits." “The bank in the current year will continue to reach out more to people targeting 'unbanked sectors' and rural areas. Our total customer base is now around 1.55 crore of which 82 lakh are depositors. We will continue to focus on reaching out to more people with special stress on unbanked sectors and rural customers," he added. The bank also expects to expand its number of branches to 632 by March end this year.