Bandhan Bank on July 26 reported a net profit of Rs 1,063 crore for the quarter ended June 30, 2024, a 47 percent jump on a year-on-year basis from Rs 721 crore last year.
Total deposits of the bank grew 23 percent YoY and stood at Rs 1.33 lakh crore as of end-June 2024. CASA grew by 14 percent YoY sequentially and growth was impacted due to reduction from short term CA balance of previous quarter, the bank said. CASA ratio stands at 33.4 percent.
The total advances grew 22 percent YoY in the quarter ending June 2024 and stood at Rs 1.26 lakh crore.
Net interest income (NII) as of Q1 FY25, stood at Rs 3,005 crore compared to Rs 2,491 crore last year, a growth of 21 percent. The net interest margin (NIM) for the quarter was 7.6 percent compared to 73 percent last year.
The lender reported a stable asset quality with gross NPA ratio at 4.23 percent compared to 6.76 percent last year. Net NPA ratio stood at 1.15 percent versus 2.18 percent last year.
Earlier on July 3, the bank appointed Ratan Kumar Kesh as the interim MD and CEO. The lender said Mr. Kesh will be the interim MD & CEO for a period of three months or till the new incumbent takes charge, whichever is earlier.
Shares of the lender closed for trading at Rs 192.50 apiece on BSE, 3.61 percent up.
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