CleanupBot II at 18:57, 13 August 2023

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{{short description|Indian private sector bank}}
{{Use dmy dates|date=December 2020}}
{{Use Indian English|date=October 2015}}
{{Infobox company
| name = Bandhan Bank
| logo = Bandhan Bank Svg Logo.svg
| logo_size =
| logo_caption = "Aapka Bhala, Sabki Bhalai"
| type = [[Public company|Public]]
| traded_as = {{ubl|{{BSE|950041}}|{{NSE|BANDHANBNK}}}}
| ISIN = INE545U01014
| area_served = India
| founders = [[Chandra Shekhar Ghosh]]
| industry = [[Banking]]<br />[[Financial service]]s
| founded = {{Start date and age|df=yes|p=yes|2015|08|23}}
| key_people = {{ubl|Dr. Anup Kumar Sinha <br> {{small|(Chairman)}}|[[Chandra Shekhar Ghosh]]<br>{{small|([[CEO|MD & CEO]])}}}}
| revenue = {{increase}} {{INRConvert|78.73|b}}
| revenue_year = 2020
| operating_income = {{increase}} {{INRConvert|54.46|b}}
| income_year = 2020
| net_income = {{increase}} {{INRConvert|30.24|b}}
| net_income_year = 2020
| assets = {{increase}} {{INRConvert|917.18|b}}
| assets_year = 2020
| owner = [[Bandhan Financial Holdings Limited]] (100%)
| num_locations = 5,371 Banking outlets <ref>{{cite news|title=Annual report FY 2018–19|url=https://www.bandhanbank.com/pdf/PressReleaseBandhanBankQ3FY2020-21.pdf}}</ref>
| num_locations_year = 2020
| num_employees = 47,260 (2020) <ref>{{Cite web|url=https://www.bandhanbank.com/pdf/PressReleaseBandhanBankQ3FY2020-21.pdf|title=Annual report FY 2017–18}}</ref>
| ratio = 27.43% {{cn|date=December 2020}}
| location = [[Kolkata]], [[West Bengal]], [[India]].
| homepage = {{url|www.bandhanbank.com/}}
}}

'''Bandhan Bank Ltd.''' is an Indian banking and [[financial services]] company, headquartered in [[Kolkata]], [[West Bengal]].<ref>{{cite news|title=Bandhan to Focus on Deposits in Initial Years|url=http://profit.ndtv.com/news/industries/article-bandhan-to-focus-on-deposits-in-initial-years-741064|access-date=26 February 2015|publisher=NDTV}}</ref> Bandhan Bank is present in 34 out of 36 [[states and Union Territories of India]]. Presently Bandhan Bank has 5,371 banking outlets pan-India serving more than 2.30 crore customers.

On 17 June 2015, the [[Reserve Bank of India]] granted the universal banking licence to Bandhan Bank. The same year, on 23 August, the bank started operations with 501 branches, 50 [[Automated teller machine|ATMs]] and 2,022 DSC.<ref name="Bandhan Bank">{{cite news|title=About Bandhan Bank: Bandhan Banking in India|url=https://www.bandhanbank.com/about-bandhan-bank.aspx#1|publisher=Bandhan Bank}}</ref>

The bank has mobilised deposits over {{INR|77,972.2 crore}} and its total advances stand at {{INR|87,042.9 crore}}, as on 31 March 2021.<ref name="Bandhan Bank"/>

== History ==
Bandhan Bank started in 2001<ref name="Bandhan Ref1" /> as a [[not-for-profit]] enterprise providing microloans to the underprivileged sections of society.<ref>{{cite web |title=India's Best Banks: Banking For Inclusivity |url=http://www.businessworld.in/article/India-s-Best-Banks-Banking-For-Inclusivity/04-06-2019-171414/ |access-date=14 October 2019}}</ref> It focused on financial inclusion and [[women empowerment]] through sustainable livelihood creation.<ref name="Bandhan Ref1" /> In 2006, Bandhan acquired an NBFC to scale up its [[microfinance]] activities. It turned into an NBFC-MFI to further its core objective of financial inclusion. In 2010, Bandhan was recognised as the largest MFI in the country.{{cn|date=December 2020}}

On 2 April 2014, Bandhan received an in-principle approval for setting up a [[universal bank]]. On 17 June 2015, the [[Reserve Bank of India]] granted the universal banking licence to Bandhan Bank. Bandhan Bank commenced operations on 23 August 2015 after Bandhan Financial Services Limited ('BFSL'), its parent company transferred its entire micro finance business to the bank and the bank simultaneously commenced general banking activities.<ref name="Bandhan Ref1" /> Its public shareholders then included International Finance Corporation; an arm of GIC, the sovereign wealth fund of [[Singapore]]; and Small Industries Development Bank of India.{{cn|date=December 2020}}

The then Hon’ble [[Minister of Finance (India)|Union Finance Minister]], Shri [[Arun Jaitley]], inaugurated the bank on 23 August 2015, in [[Kolkata]], making Bandhan Bank the first bank to be set up in Eastern India post-Independence.<ref>{{Cite web|last=Bandyopadhyay|first=Tamal|date=23 August 2015|title=India gets a new bank|url=https://www.livemint.com/Opinion/d1YI4SxNE5eQVB7nCTuZSL/India-gets-a-new-bank.html|access-date=14 October 2020|website=mint|language=en}}</ref> The bank had significantly improved its presence in East and North East India due to shortage of other banking organisations.<ref name="Bandhan Ref1" />

On 27 March 2018, Bandhan Bank got listed on the [[Stock market|bourses]] and became the 8th largest bank in India by market capital, on the day of listing.<ref name="8th largest bank in India">{{cite news|url=https://economictimes.indiatimes.com/markets/stocks/news/bandhans-bumper-debut-makes-it-indias-8th-most-valued-bank/articleshow/63497204.cms|title=8th largest bank in India|access-date=28 March 2018|publisher=Economics Times}}</ref>

=== Microfinance ===
[[File:The Union Minister for Finance, Corporate Affairs and Information & Broadcasting, Shri Arun Jaitley lighting the lamp to inaugurate the Bandhan Bank, in Kolkata on August 23, 2015.jpg|thumb|Union minister [[Arun Jaitley]] lights the lamp at the inauguration of Bandhan Bank in Kolkata on 23 August 2015]]
Bandhan started its microfinance operations<ref name="Bandhan Ref1">{{cite news |title=Bandhan Bank Ltd. |url=https://www.business-standard.com/company/bandhan-bank-68090/information/company-history |access-date=6 May 2021 |publisher=Business Standard India}}</ref> from Bagnan, a small village 60 km from [[Kolkata]] and is the first instance in India of a microfinance entity transforming into a universal bank and focused on serving underbanked and underpenetrated markets. The model followed was individual lending through group formation. In 18 years, Bank has presence in 34 states and union territories with special focus on the eastern and underdeveloped states of [[Northeast India]].It serves micro banking and general banking needs offering loans for a variety of asset and liability products and services. Its asset products consists of retail loans including a substantial portfolio of micro loans as well as micro small and medium enterprise ('SME') loans and small enterprise loans and in addition to loan and deposit products the bank also offers other banking products and services like debit cards,internet banking,mobile banking, EDC-POS terminals, online bill payment services and the distribution of third-party general insurance products and mutual fund products which helps to generate non-interest income and cater towards the additional needs of its customers.

==Investors==
Bandhan Bank is a subsidiary of Bandhan Financial Holdings Limited (BFHL).<ref>{{Cite web|date=4 August 2020|title=Ownership rules: Promoter dilutes 20.95% stake in Bandhan Bank|url=https://www.financialexpress.com/industry/banking-finance/ownership-rules-promoter-dilutes-20-95-stake-in-bandhan-bank/2043843/|access-date=14 October 2020|website=The Financial Express|language=en-US}}</ref> BFHL is a wholly owned subsidiary of Bandhan Financial Services Limited (BFSL). Bandhan Financial Services (BFSL) commenced business in microfinance in 2006 and acquired Bandhan Bank in 2009 and also its micro finance business.<ref name="Bandhan Ref1" /> Later BFSL transferred its microfinance business to the Bandhan bank as the former became India's largest microfinance company by number of customers and size of loan portfolio and Bandhan Bank Limited was incorporated as on 23 December 2014 at Kolkata, West Bengal, as a public limited company and RBI issued licence in terms of Section 22 of the Banking Regulation Act on 17 June 2015 authorising the Bank to carry on banking business. BFSL's public shareholders include [[International Finance Corporation]] (IFC), IFC FIG Investment Company, [[Small Industries Development Bank of India]] (SIDBI), and Caladium Investment Pte Ltd., a company managed by [[GIC Private Limited|GIC]] Special Investments Private Limited.

==Board of directors==
The board of directors included [[Harun Rashid Khan]], former deputy governor of [[Reserve Bank of India]], for a five-year term between 2011 and 2016.<ref>{{cite news|title=Bandhan Bank: Former RBI deputy governor HR Khan joins Bandhan Bank board|url=https://economictimes.indiatimes.com/industry/banking/finance/banking/former-rbi-deputy-governor-hr-khan-joins-bandhan-bank-board/articleshow/63716936.cms|access-date=11 April 2018|publisher=Economic Times}}</ref><ref>{{cite news|title=Bandhan Bank Management Information – Details of Bandhan Bank Management|url=https://economictimes.indiatimes.com/bandhan-bank-ltd/infocompanymanagement/companyid-67665.cms|publisher=Economic Times}}</ref>

==Initial public offering and stock exchange listing==
Bandhan Banks's equity shares are listed on the [[Bombay Stock Exchange]] and [[National Stock Exchange of India]].<ref>{{cite news|title=Shares of Bandhan Bank get listed|url=http://www.motilaloswal.com/markets/market-news/news-details/EquityNews/1005515/Shares-of-Bandhan-Bank-get-listed-|access-date=27 March 2018|publisher=Motilal Oswal}}</ref> The IPO got oversubscribed by almost 15 times at the end of the three-day long issue.<ref>{{cite news|title=Bandhan Bank IPO subscribed 14.6 times on last day|url=https://www.livemint.com/Money/eZEfpFZfmFPUvi9NllTJPJ/Bandhan-Bank-IPO-fully-subscribed-on-last-day.html|access-date=20 March 2018|publisher=Live Mint}}</ref><ref>{{cite news|title=Bandhan Bank IPO subscribed 14.60 times on final day|url=https://www.moneycontrol.com/news/business/ipo/bandhan-bank-ipo-oversubscribed-14-60-times-on-final-day-2531415.html|access-date=19 March 2018|publisher=Money Control}}</ref> On its stock exchange debut (27 March 2018), the equity opened at ₹487.33 on the National Stock Exchange and closed at ₹476.85; 27 percent over its issue price of ₹375.<ref>{{cite news|title=Bandhan Bank makes stellar debut, closes up 27% at Rs 476.85|url=https://www.moneycontrol.com/news/business/ipo/bandhan-bank-makes-stellar-debut-closes-up-27-at-rs-476-85-2537653.html|access-date=27 March 2018|publisher=Money Control}}</ref>

==Merger==
In January 2019, Bandhan Bank initiated the process of acquisition of GRUH Finance, a Housing Development Finance Corporation Limited backed housing finance company in the share-swap deal by way of Scheme of amalgamation (‘Scheme’). [[Reserve Bank of India|RBI]] accorded its no-objection to the Scheme on 14 March 2019. The bank has also received no-objection on the Scheme from the BSE and the NSE on 3 April 2019. On 15 April 2019, the Competition Commission of India (CCI) has also approved the Scheme. <ref>{{cite news|url=https://www.moneycontrol.com/news/business/bandhan-bank-gets-cci-approval-to-acquire-gruh-finance-3838701.html/amp|title=Bandhan Bank gets CCI approval to acquire Gruh Finance|work=moneycontrol|access-date=17 April 2019}}</ref> On 30 July 2019, bank received the approval of its shareholders for the proposed acquisition of GRUH Finance. <ref>{{Cite web|url=https://timesofindia.indiatimes.com/business/india-business/bandhan-bank-gets-shareholders-nod-to-merge-gruh-finance/articleshow/70455343.cms|title=Bandhan Bank gets shareholders' nod to merge Gruh Finance – Times of India|website=The Times of India|access-date=1 August 2019}}</ref> Further the bank obtained the approval of NCLT, Bench at [[Kolkata]] on 27 September 2019. Then GRUH Finance officially merged into Bandhan Bank on 17 October 2019, and the combined balance sheet of the bank's Q2 results crossed the ₹1 lakh crore mark.

==See also==

* [[Banking in India]]
* [[List of banks in India]]
* [[Reserve Bank of India]]
* [[Indian Financial System Code]]
* [[List of companies of India]]

==References==
{{reflist|30em}}

== External links ==
* {{official|http://www.bandhanbank.com/}}

{{Banking in India}}
{{Nifty 200 companies}}{{Financial services in India}}
[[Category:Private sector banks in India]]
[[Category:Banks established in 2014]]
[[Category:Microfinance companies of India]]
[[Category:Microfinance banks]]
[[Category:Community development organizations]]
[[Category:Companies based in Kolkata]]
[[Category:Banks based in Kolkata]]
[[Category:Bandhan Bank]]
[[Category:2014 establishments in West Bengal]]

Bandhan Bank - Revision history

CleanupBot II at 18:57, 13 August 2023