Bandhan Bank Q2 Results: Net profit up 244% YoY at Rs 721 crore, Provisions higher QoQ, NPAs worsen

Bandhan Bank

Private sector lender Bandhan Bank on October 18 reported a net profit of Rs 721.20 crore in the July–September quarter of the current financial year, up 244 percent YoY, from Rs 209.3 crore in the corresponding period last year.

The bank's gross non-performing asset (GNPA) in the reporting quarter increased by 14.8 percent YoY. In absolute terms, gross NPA was at Rs 7,874 crore crore in the July-September quarter, as compared to Rs 6,854 crore in a year ago period. In the previous quarter, gross NPA stood at Rs 6,961 crore.

Net NPA ratio of the bank stood at 40 percent YoY in July-September. The net NPA in the reporting quarter was at Rs 2,366 crore, as against Rs 1,679 crore in a similar period last year.

Net Interest Income (NCII) stood at Rs 2,443.40 crore. And, the total income for the quarter increased to Rs 5,032 crore, up from Rs 4,250 crore during the same period last year.

The provisions and contingencies increased by 5.6 percent Q0Q to Rs 636.20 crore, when compared with Rs 602 croer in Q1.

The total deposits of the private lender at the end of the quarter stood at Rs 1.12 lakh crore versus Rs 99. 36 lakh crore in the corresponding quarter last year, registering a growth of 12.7 percent YoY.

The loan portfolio (Personal, Housing, Corporate, MSMEs and others) of the bank at the end of the July-September quarter stood at Rs 1.08 lakh crore.

In its statement, the bank reported that as of September 30, 2023, it had a total of 1621 branches, 4598 banking units, and 438 ATMs in its network.