As it nears the completion of five years as a universal bank, Bandhan Bank has now set its sights on the future and unveiled a roadmap for future growth through Vision 2025. The Bank’s aspiration is to be an affordable financial institution which provides simple, cost effective and innovative financial solutions in an inclusive and responsible manner. With 71% of its banking outlets located in rural and semi-urban areas, Bandhan Bank is reaching out to the unbanked and under-banked individuals in the hinterlands of India and giving them access to organized finance, in line with its purpose of inclusive banking. To empower the microloan customer even further, Bandhan Bank reduced the interest rate on microcredit in the year under review by 70 basis points (bps) to 17.95%.
Post COVID-19, the urban-rural equation has changed. Many workers who had moved to urban centres to earn livelihoods, have returned to their places of origin, and are determined to earn their livelihoods locally from home. In such a scenario, Bandhan Bank is in a good position with a significant presence in semi-urban and rural centres, which will enable it to serve growing local needs. While Bandhan Bank is making a positive difference to society through its banking services, it is also creating a difference on the ground on the back of its social impact programmes in the areas of poverty alleviation, healthcare, education and financial literacy. As on March 31, 2020, the Bank transformed the lives of over 25 lakh beneficiaries across 12,900 villages and 12 states in India.
