Bandhan Bank on Wednesday said it has posted a 20 per cent year-on-year growth in total advances during the second quarter ended September 30, 2020.

In a regulatory disclosure to the bourses, the bank said its total advances during the quarter was Rs 76,724 crore against Rs 64,186 crore in the corresponding period of the previous year.

The total deposits of the bank during the quarter was Rs 66,153 crore, up 34 per cent over Rs 49,195 crore in the corresponding quarter a year ago. The bank logged a 3 per cent growth in advances and a 9 per cent increase in deposits over the first quarter ended June 30, 2020.

However, the city-based bank lowered its interest rate on savings bank deposits to 3 per cent per annum from 4 per cent during the quarter.

The collection efficiency of the microfinance segment, which took a hit during the lockdown, has recovered to 89 per cent during the quarter. It was around 15 per cent at the start of June. The overall collection efficiency of the bank, which includes mortgage and other lending, has increased to 92 per cent for the period.

The bank is also making core changes in its management. Having earlier announced the appointment of Kumar Ashish as the head of emerging entrepreneurs business, the bank has also recently announced the appointment of Rahul Parikh, former CEO of Bajaj Capital as the executive president and chief marketing and digital officer of Bandhan Bank.