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Last Updated : Jan 14, 2020 01:29 PM IST | Source: Moneycontrol.com

Bandhan Bank Q3: Net profit spikes 121% YoY, misses Street estimates

The profit saw a year-on-year (YoY) rise of nearly 121 percent, while quarter-on-quarter (QoQ), the numbers were down by almost 25 percent.

Bandhan Bank acquired HDFC-backed Gruh Finance for $3.2 billion (roughly Rs 24,000 crore).
Bandhan Bank acquired HDFC-backed Gruh Finance for $3.2 billion (roughly Rs 24,000 crore).
 
 
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Private lender Bandhan Bank reported a net profit of Rs 731 crore for the December quarter of the financial year 2020 on January 14 against Rs 331.27 crore reported in the same quarter of the previous year.

The profit saw nearly a 121 percent year-on-year (YoY) rise, while quarter-on-quarter (QoQ), the numbers were down by almost 25 percent. In the September quarter, the bank has reported a profit of Rs 971.8 crore.

"Bandhan Bank Q3FY20 net profit jumped 120.85 percent at nearly Rs 731 crore after taking additional provision on standard advances amounting to about Rs 200 crore. Loan portfolio increased by 88.87 percent to nearly Rs 65,456 crore," Bandhan Bank said in a BSE filing.

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The numbers were slightly lower than the Street estimates as CNBC-TV18 poll had estimated the numbers to the tune of Rs 783.7 crore.

Provisions stood at Rs 295 crore for the said quarter against Rs 377.64 crore reported in the same quarter of the previous year. In the September quarter of FY20, Bandhan Bank's provisions were at Rs 145.5 crore.

Bank's deposit portfolio grew 58.51 percent YoY during Q3FY20 while loan portfolio (on book + off book) grew 83.87 percent YoY, the lender claimed.

CASA grew by 31.36 percent YoY and CASA ratio stood at 34.31 percent (excluding GRUH deposits 35 percent) against 41.40 percent YoY and 32.90 percent QoQ., the bank said.

Gross non-performing assets (GNPA) as on December 31, 2019, stood at 1.9 percent against 2.4 percent as on December 31, 2018, on a standalone basis.

Net NPAs as on December 31, 2019, stood at 0.8 percent against 0.6 percent as on September 30, 2019, and 0.7 percent as on December 31, 2018, on a standalone basis.

Capital Adequacy Ratio (CRAR) came at 24.69 percent, among which Tier I stood at 23.09 percent and CET 1 at 23.09 percent. Including profits for the current year, it would stand at 29.46 percent, the bank said.

Net interest income (NIl) for the quarter grew by 37.10 percent to Rs 1,541 crore as against Rs 1,124 crore in the corresponding quarter of the previous year, the bank said.

Operating profit for the quarter increased by 40.56 percent to Rs 1,265 crore against Rs 900 crore in the corresponding quarter of the previous year.

Net interest margin (NIM) (annualised) for the quarter stood at 7.9 percent (merged) against 10.5 percent (standalone) in the corresponding quarter of the previous year, Bandhan Bank said.

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First Published on Jan 14, 2020 01:27 pm
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