Bandhan Bank on January 31 reported 42% decline in net profit at Rs 426 crore for the quarter ended December 31, 2024. It reported net profit of Rs 733 crore in the year-ago period.
Net interest income (NII) as of Q3FY25 stood at Rs 2,830 crore as compared to Rs 2,525 crore as of Q3FY24, representing a growth of 12% YoY.
Speaking on the Bank’s performance, MD & CEO Partha Pratim Sengupta said, "Bandhan Bank’s performance in the third quarter reflects sustainable growth, with a strong focus on risks and compliance. Our continued success is built on the trust of our customers and the hard work of ouremployees. With growth in our loan book and a focus on technological innovation, improving processes, and strengthening our products and teams, Bandhan Bank is well-positioned for the next phase of growth as we evolve into Bandhan Bank 2.0."
The gross NPA stood at 4.7% in Q3FY25 versus 7% a year ago while net NPA stood at 1.3% in Q3FY25 vs 2.2% YoY.
Net Interest Margin (NIM) for the quarter was 6.9% compared to 7.2% in Q3FY24. The provisions were at Rs 1,376 crore in Q3FY25 compared to Rs 684 crore in Q3FY24.
Operating Profit was Rs 2,021 crore in Q3FY25 as compared to Rs 1,655 crore in Q3FY24, up 22% YoY.
As of December 31, 2024, Gross Advances stood at Rs.1.32 lakh crore as against Rs.1.16 lakh crore in the previous year, a growth of 14% YoY.
On January 31, Bandhan Bank's shares on BSE closed 2.2% higher at Rs 151.6 apiece.
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