Bandhan Bank adds 500K customers in one month

Within a month of launching operations, Bandhan Bank has added five lakh new customers as savings account holders.

Bandhan Bank MD and CEO C S Ghosh said with these new accounts, it has shored up its customer base to 83 lakh, with 78 lakh being old micro-finance customers.

The Bandhan Bank which started operations on August 23, has 1.48 crore savings and loan accounts as on date.

Bandhan, which operated as an micro-finance institution (MFI) is yet to start loan disbursals to bank account holders.

"The bank is focusing on deposit mobilisation at present since it was not being able to do so when it was an MFI," Ghosh told reporters at a CII event here today.

The loan book of Bandhan stood at around Rs 10,500 crore, and is expected to grow at 30 per cent by the end of this fiscal, he added.

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