Bandhan Bank facts for kids
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| Public | |
| Traded as | |
| ISIN | INE545U01014 |
| Industry | Banking |
| Founded | 2015 |
| Founders | Chandra Shekhar Ghosh |
| Headquarters | Kolkata, West Bengal, India |
|
Number of locations
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6,250+ Banking outlets (2023) |
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Area served
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India |
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Key people
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| Products | Banking, insurance, investment management, mortgage loans, mutual funds |
| Revenue |  ₹18,373 crore (US$3.1 billion) (2023) |
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Operating income
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 ₹7,091 crore (US$1.2 billion) (2023) |
| ₹2,195 crore (US$370 million) (2023) |
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| Total assets | ₹155,770 crore (US$26 billion) (2023) |
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Number of employees
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75,000+ (2023) |
Bandhan Bank Ltd. is a major bank and financial services company in India. Its main office is in Kolkata. Bandhan Bank has branches in almost all states and union territories of India. It has over 6,250 banking places and serves more than 3.26 crore (32.6 million) customers. Bandhan Bank started its operations on August 23, 2015. It received a special license from the Reserve Bank of India to become a full bank.
Contents
How Bandhan Bank Started
Bandhan began in 2001. It was first set up as a group that did not aim to make a profit. Its goal was to help people, especially women, manage their money better. It also aimed to help them create ways to earn a living. Bandhan started its small loan services, called microfinance, in a village near Kolkata. They helped individuals by forming groups. Bandhan focused on helping people and areas that did not have many banking services.
Growing Bigger
In 2006, Bandhan grew bigger. It became a Non-Banking Financial Company (NBFC). This allowed it to expand its microfinance activities. By 2010, Bandhan had become the largest microfinance group in India.
Becoming a Full Bank
The Reserve Bank of India (RBI) noticed Bandhan's success. In April 2014, RBI gave Bandhan an initial approval to become a bank. Then, on June 17, 2015, RBI gave Bandhan the official banking license. This made Bandhan the first microfinance group ever to become a full bank in India.
Bandhan Bank officially opened on August 23, 2015. The then Finance Minister of India, Late Shri Arun Jaitley, opened the Bank in Kolkata. Some of its early major owners included International Finance Corporation and a fund from Singapore.
On March 27, 2018, Bandhan Bank's shares were listed on the stock market. On that day, it became the 8th largest bank in India based on its market value.
Merging with Another Company
In October 2019, Bandhan Bank joined with GRUH Finance Limited. GRUH Finance was a company that helped people get home loans. Bandhan Bank did this to start offering affordable home loans to more people.
Who Owns Bandhan Bank
Bandhan Bank is connected to Bandhan Financial Holdings Limited (BFHL). BFHL owns about 39.99% of the Bank's shares. Other big owners include Housing Development Finance Corporation Limited and Caladium Investment Pte. Limited.
What Bandhan Bank Does
Bandhan Bank has over 6,250 banking outlets. These are spread across big cities, towns, and rural areas in India. The bank mainly focuses on helping small business owners and small to medium-sized businesses (MSMEs). It also provides home loans and other personal loans. A large part of the money the bank holds, about 84.5%, comes from individual customers.
Bandhan Bank aims to provide banking services to everyone. It especially reaches out to people who do not have bank accounts or enough banking services. About 73% of its branches are in rural and semi-urban areas.
Products and Services
Bandhan Bank offers many different products and services. These include:
- Savings accounts
- Current accounts
- Fixed deposits (where you save money for a set time)
- Credit cards
- Home loans
- Personal loans
- insurance
- mutual funds
The shares of Bandhan Bank are traded on India's main stock markets. These are the BSE and the NSE. When the bank first offered its shares to the public, many people wanted to buy them. The demand was almost 15 times higher than the shares available. On its first day on the stock market (March 27, 2018), the share price went up significantly.
| Shareholders as on March 31, 2022 | Shareholding (%) |
| Promoter & Promoter Group* (BFHL) | 39.99 |
| Foreign Portfolio Investor (FPI) | 34.31 |
| Bodies Corporate | 9.71 |
| Individual Shareholders | 6.16 |
| Qualified Institutional Buyers | 3.91 |
| Others | 5.92 |
See also
- Banking in India
- List of banks in India
- Reserve Bank of India
- Indian Financial System Code
- List of companies of India
