Bandhan Bank’s collection efficiency improves sharply

Bandhan bank is an Indian Banking and Financial services company, headquartered in Kolkata said that its collection efficiency improved to 90% at the end September from 80% three months back with the easing of lockdowns and fall in number of Covid-19 active cases that offered relief and room for economic recovery.

The Bank is present in 34 out of 36 states and union territories of India, with 5,596 banking outlets and more than 2.35 crore customers.

The Bank’s repayment collection from microfinance vertical, which contributes about a third of its loan portfolio, also improved to 86% from 72% over the same period, the bank said in a regulatory filing to stock exchanges.

Bandhan’s loan asset rose 7% year on year to Rs 81668 crore at the end September. Deposit mobilization jumped 24% to Rs 81898 crore, the provisional data for this quarter showed.

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