Private sector lender Bandhan Bank on July 14 reported a net profit of Rs 721 crore for the April-June 2023 quarter, down from Rs 886 crore in the corresponding period last year.
The bank's gross non-performing asset (GNPA) also decreased to 6.76 percent from 7.25 percent last year.
Bandhan Bank's net NPA stood at 2.18 percent, deteriorating from 1.92 percent in the corresponding quarter last year.
In a statement, Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank, said that this quarter’s performance indicates that the bank is on a stable growth path.
"The Bank has also made significant progress in diversifying its asset book. Our investment in people, Technology, IT & expansion over the last few quarters will surely improve the performance of the bank," he said.
The bank's commercial banking book grew by 78 percent YoY (Year-on year) basis. However, retail loan books other than housing finance book grew by 86.5 percent, but housing finance book grew by 9.5 percent.
Bank's expansion
Bandhan Bank has added nearly 7 lakh customers in the current quarter and the total number of customers stands at 3.07 crore. Banking outlets as on June 30, 2023, stood at 6,140. The network consists of 1,542 branches and 4,598 banking units.
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