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Bandhan Bank Q3: Net profit falls 66% YoY on higher provisions, total cost

Bandhan Bank Q3: Total expenditure rose 34.65 percent YoY. Provisions and contingencies jumped 91.32 percent to Rs 1,541.49 crore versus Rs 805.71 crore in the year-ago period.

January 20, 2023 / 04:34 PM IST
Bandhan Bank's advances for the quarter rose 11.1 percent YoY to Rs 97,787 crore

Bandhan Bank's advances for the quarter rose 11.1 percent YoY to Rs 97,787 crore

 
 
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Bandhan Bank on January 20 posted a 66 percent drop in its net profit for the December quarter (Q3FY23) at Rs 290.57 crore amid a sharp jump in provisions and total cost.

The lender had logged Rs 858.97 crore profit in the year-ago period.

Its total expenditure rose 34.65 percent from the year-ago period to Rs 2,918.77 crore. Provisions and contingencies jumped 91.32 percent to Rs 1,541.49 crore versus Rs 805.71 crore year-on-year (YoY).

Meanwhile, net interest income (NII) or the income a bank earns by giving loans, fell marginally by 2.1 percent YoY to Rs 2,080.43 crore. Other income increased nearly 45.74 percent YoY to Rs 1,033.30 crore.