Bandhan Bank to focus on offering gold loan


The private sector lender, Bandhan Bank, have started offering  gold loans to customers with the purpose of strengthening its retail loan portfolio. Along with gold loan, the bank also intends to expand its business to affordable housing segment.

According to a top official of the bank, Bandhan Bank had started providing gold loan facilities for its retail customers five months back. The bank is likely to add few more urban branches that will also offer gold loans to customers.

Commenting on gold loans offered by Bandhan Bank, Chandra Shekhar Ghosh, the Managing Director and Chief Executive Officer of Bandhan Bank, said that “We are seeing good response in gold loans. The bank would like to grow this business in certain pockets of urban areas.”

Currently, Bandhan Bank is providing gold loans to customers from its 25 exiting branches. It is expected that the bank would scale up the process of gold loan disbursal in the coming days. The bank may charge an appropriate interest rate of 16% on its gold loans. However, this interest rate is subject to change based on purity of gold.

Bandhan Bank has already started identifying and listing out the investment bankers to get its shares listed in stock exchange. In the meantime, the bank would focus on increasing its advances to the MSME sector. It has also initiated discussions with various insurance companies and mutual funds to offer multiple financial products through its network of branches.

As of now, Bandhan Bank is providing services to a customer base of 11 million with a network of nearly 383 ATMs and 840 branches.

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