Bandhan Bank’s Collection Efficiency Improves For All Advances In Q1 FY21
Private lender Bandhan Bank Ltd. has reported improved collection efficiency in the first quarter of 2020-21 for both micro-banking and non-micro-banking advances.
Collection efficiency of micro-banking advances rose up to 68% in the April-June period and further improved to 70% as on July 3, as per the bank’s quarterly update. For non-micro banking advances, the collection efficiency for June was 84%.
The Kolkata-based lender said nearly 70% of customers have started repaying loans.
The rate of effective moratorium—those who opted for moratorium on repayment of loans allowed by the Reserve Bank of India but have started repaying so far— stood at 30% for micro-banking advances. For non-micro banking advances, the effective moratorium rate was 16% during the period, the bank said.
Bandhan Bank’s loans and advances stood at Rs 74,325 crore on the end of the June quarter, while deposits touched Rs 60,602 crore. Micro-banking segment accounted for 5% of total deposits during the period, as compared to 6.2% a year ago. The percentage of retail deposits stood at 78%—the same as a year ago.
On Wednesday, Bandhan Bank shares fell 4.04% to Rs 379.00 apiece on the BSE while the benchmark Sensex lost 0.94% to end the day at 36,329.01 points.