India’s youngest universal bank, Bandhan Bank will complete its five successful years of operations on August 23, 2020. In June 2015, the Bandhan Group was given approval by the Reserve Bank of India (RBI) to set up a universal bank. For around two decades, Bandhan has tirelessly worked for the upliftment of India’s economically weak through access to timely microcredit, freeing the poor from the clutches of usurious moneylenders. After becoming a bank, Bandhan Bank has spread its reach to diverse corners of India across 34 states and UTs via its 4,559 banking outlets and 485 ATMs. Apart from its microcredit offerings, which account for 64% of its portfolio, the Bank has extended into several new products such as loans to micro, small and medium enterprises (MSMEs), gold loans and affordable housing finance. In these five years, the Bank has also emerged as a major job creator with its employee strength rising from around 13,000 to around 42,000 in this period.
Managing Director and Chief Executive Officer, Bandhan Bank, Mr Chandra Shekhar Ghosh said, “Over the last five years, Bandhan Bank has brought mainstream banking services to millions of unbanked and under-banked Indians and micro-enterprises. This has helped them become financially independent and instilled a spirit of confidence in them. I would like to express my heartfelt gratitude to all our customers who have reposed their faith in Bandhan Bank.”