Bandhan Bank which is being promoted by Chandra Shekhar Ghosh was first established as an NGO in the 1990’s. The company in 2006 acquired the NBFC license and was established as Bandhan Financial Services Private Limited. It was into microfinance lending. In 2015, it converted itself into a private bank and was the microfinance company in India to get a universal banking license. The company is being promoted by Bandhan Financial Holdings Limited and holds 39.99% as of Dec 2021.
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Bandhan Bank Limited is an Indian banking and financial company and was incorporated in 2001 with its headquarter at Kolkata, West Bengal. It is a commercial bank focused on serving underbanked and underpenetrated markets in India. Bandhan Bank Ltd. is the first instance in India of a microfinance entity transforming into a universal bank.
It is one amongst the fastest growing banks and is one of the most admired financial institutions in India. Bandhan Bank Started with 501 branches, 50 ATMs and 2,022 banking units on day one. Presently Bandhan bank has 4,559 banking outlets Pan India serving more than 2.03 crore customers. As on 30 June 2020, the bank has mobilised deposits of more than ₹60,610 crores and its total advance stands at ₹74,331 crores taking the total business to ₹1,34,940 crore.
Bandhan Bank is listed on the famous stock exchanges of India like National Stock Exchange Ltd., Bombay stock exchange Ltd., etc. Banks form the indices like- Nifty 100, Nifty 200, Nifty500, Nifty Banks, S&P BSE 100 LargeCap TMC Index, S&P BSE 500, S&P BSE Private Banks Index and many more. The Bandhan Bank believes in mutual respect and transparency and the staff is trained to be simple, straightforward, down-to-earth and approachable.
On 17 Oct 2019, Bandhan Bank & Gruh Finance Merger was approved by NCLT’s (National Company Law Tribunal) Kolkata and Ahmedabad benches. GRUH Finance is the housing finance subsidiary of HDFC. The share exchange ratio is decided at 568:1000, which means shareholders of GRUH Finance will receive 568 shares of Bandhan Bank for every 1000 shares that they hold of GRUH Finance.
The bank currently offers a variety of asset and liability products and services designed for micro banking and general banking. The Common services offered by the bank are-
Savings Account. Bandhan Bank offers 6 types of savings accounts designed for different needs of people.
Loan against Property
Commences operation in August 2015
Becomes 8th largest bank in India by market capitalization, in 2018.
Opens its 1,000th bank branch in 2019.
Acquires GRUH Finance, an HDFC subsidiary in 2019.
Crosses 1 lakh crore of total business in less than 5 years.
Bandhan wins ET Bengal Corporate Awards in the category 'Highest Job Creator'
Bandhan recognized as a Global Growth Company 2014 by the World Economic Forum
Award for 'Entrepreneur with Social Impact' in 2014 conferred upon CMD, Bandhan as part of the Forbes India Leadership Awards
'Entrepreneur of the Year' honour by AIMA
ET Bengal Corporate Awards 2014
Skoch Financial Inclusion Award for Bandhan Health Program 2013
Skoch Financial Inclusion Award 2011
Bandhan wins the ‘Micro Finance India Award 2009’ in the category ‘Institution of the Year’
Bandhan ranked 2nd in the World and 1st in India by Forbes first-ever list of World’s top 50 MFIs in December 2007
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