The private sector lender Bandhan Bank, which has its headquarters in Kolkata, said in a regulatory filing on January 7 that its total deposits in the third quarter of FY23 exceeded Rs 1 lakh crore.
The lender’s total deposits and advances increased by 21 percent, from Rs 84,500 in the same period of the prior fiscal year to Rs 1,02,283 this quarter. Sequentially, the amount increased by 3% from the Rs 99,366 reported in the preceding quarter.
In the December quarter, lender loans and advances were Rs 1,00,520 crores, up 14% from Rs 87,998 crores in Q3FY22. Comparing the reported figures to the Rs 95,835 crore from the September quarter, the numbers sequentially increased by 5%.
When Bandhan Bank, situated in Kolkata, reached the lakh crore threshold for deposits, loans, and advances in the third quarter of FY23, it represented a crucial turning point. Customers who had savings balances over Rs 2 crore moved deposits to term deposits during the quarter, according to the bank.