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    Bandhan Bank CEO expects cost of funds to come down post-merger with Gruh Finance

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    Bandhan Bank CEO expects cost of funds to come down post-merger with Gruh Finance

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    Bandhan Bank reported a growth of 10 percent in its net profit for December quarter at Rs 331.3 crore.  Chandra Shekhar Ghosh, MD & CEO of the bank, spoke to CNBC-TV18 about the results and Gruh Finance merger.

    Bandhan Bank reported a growth of 10 percent in its net profit for December quarter at Rs 331.3 crore.  Chandra Shekhar Ghosh, MD & CEO of the bank, spoke to CNBC-TV18 about the results and Gruh Finance merger.
    "We have been focused on microfinance, affordable housing and micro, small and medium enterprises (MSMEs). Housing is a big opportunity with government’s housing for all thrust," Ghosh said on Friday.
    Talking about Bandhan Bank's acquisition of HDFC Ltd-owned Gruh Finance, Ghosh said, “The Gruh model under Sudhin Choksey as usual, we will transfer to eastern region including north east and provided that credit, which we know our customers, we know the credit flow, credit history is there. So there is a big opportunity of business. We are looking to go in that way.”
    Ghosh further said that they cannot reclassify promoter holding or change tier-3 structure to comply with RBI norm.
    On the business front, he said, “We are going to affordable housing and not in housing; for that big companies are there.”
    "We expect cost of funds to come down post-merger with Gruh Finance," added Gosh.
     
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