Bandhan Bank Q4 update: Total advances up 16%, deposits rise 24%

 

Private sector lender Bandhan Bank on Tuesday said its loans and advances grew 16 per cent year-on-year (YoY) to Rs 1,01,359 crore at the end of January-March quarter of financial year 2021-22.

 

Sequentially, loans and advances rose 15 per cent from Rs 87,998 crore as of December 31, 2021.

 

Total deposits grew 24 per cent YoY and 14 per cent quarter-on-quarter (QoQ) to Rs 96,331 crore, while current account and saving account (CASA) deposits rose 18 per cent YoY and 4 per cent QoQ to Rs 40,072 crore.

 

However, CASA ratio declined to 41.6 per cent from 43.4 per cent a year ago and 45.6 per cent at the end of preceding December quarter.

 

The share of retail to total deposits stood at 77 per cent as against 79 per cent a year ago and 85 per cent a quarter ago.

 

Bandhan Bank said its collection efficiency was at about 96 per cent during March 2022, while liquidity coverage ratio (LCR) was at about 129 per cent as of March 31, 2022.

 

The bank had reported a 35.7 per cent YoY increase in its net profit at Rs 859 crore for October-December quarter, while its net interest income (NII) grew 2.6 per cent to Rs 2,124.7 crore.

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Bandhan Bank Q3 Results: Net profit jumps 35.7% YoY

Bandhan Bank on January 21 posted a net profit of Rs 859 crore for the third quarter of financial year 2021-22, which marked a 35.7 percent year-on-year (YoY) jump as compared to Rs 633 crore profit logged in the same quarter last fiscal.

Net interest income (NII) for the quarter ending December 2021 grew by 2.6 percent to Rs 2,124.7 crore, as against Rs 2,071.7 crore in the year-ago period.Non-interest income surged by 26.7 percent to Rs 712.3 crore as compared to Rs 562.3 crore in the corresponding quarter of the previous year.

Operating profit increased by 1.4 percent YoY to Rs 1,950.1 crore. Net interest margin (annualised) for Q3 FY22 stood at 7.8 percent as against 7.6 percent in September 2021 quarter.

Commenting on the financial performance, Bandhan Bank MD and CEO Chandra Shekhar Ghosh said, “We have seen all round recovery during the quarter with improved collection and increase in disbursement."

Total deposits of the lender increased by 18.7 percent YoY to Rs 84,499.8 crore as of December 31, 2021, the bank said.

The lender also noted that its gross non-performing assets (NPAs), as of December 31, 2021, is at Rs 9,441.6 crore (10.81 percent) as against Rs 8763.6 crore (10.82 percent) as on September 30, 2021.

Net NPAs as of December 31, 2021, stood at Rs 2,413.1 crore (3.01 percent) as against Rs 2,265.8 crore (3.04 percent) as of September 30, 2021.

"Q4 historically has been the best quarter for the bank and we are positive of our business going forward. With Group loan share in total advances reduced to 52 percent, the bank is on track to achieve the diversification strategy which it had laid down for FY25," Ghosh added.

Bandhan Bank, in a press release, also noted that its outlets as of December 31, 2021, stood at 5,626. The network consists of 1,176 branches, 4,450 banking units as against 1,107 branches, and 4,090 banking units as of December 31, 2020.

The total number of ATMs stood at 489 as of December 31, 2021, against 487 as of December 31, 2020. During the quarter, the number of employees of the bank has gone up from 52,976 to 55,341, it added.

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Bandhan Bank posts huge loss in Q2 as bad loans surge

Private sector lender Bandhan Bank on Friday reported a whopping net loss of Rs 3,008.59 crore for the second quarter this fiscal, on the back of Rs 5,577.92-crore provisions as the lender saw a huge surge in bad loans.

In absolute terms, non-performing assets (NPAs) of the bank, which had posted a net profit of Rs 920 crore in the second quarter last fiscal, soared 10-fold year-on-year to Rs 8,763.60 crore in the second quarter this fiscal from Rs 873.97 crore in the year-ago period. On a quarter-on-quarter basis, NPAs grew 36% from Rs 6,440.38 crore in the first quarter.

During the period under review, the bank made an accelerated provision on NPA accounts of around Rs 1,500 crore. It also provided an additional standard assets provision amounting to Rs 2,100 crore and provision on restructured assets amounting to Rs 1,030 crore.

Addressing a virtual press meet, Bandhan Bank MD & CEO Chandra Shekhar Ghosh said, “It was a very critical quarter. But not just for us, everyone is undergoing the same. We recognised this reality and strengthen our balance sheet to be prepared for the future business. All stresses are assessed and finalised in this moment. And then, the bank made a one-time additional provision. This quarter total provisioning was Rs 5,578 crore.

 Due to such provisioning, the bank has reported a loss of around Rs 3,000 crore in this quarter...it is not a loss, it is like taking some break comfortably, so that from today, we can only focus on business growth and quality of the portfolio.”

Ghosh said the bank believed that this provisioning should be “sufficient” to take care of any previous asset quality issues on account of the ongoing pandemic as well as protect it against the disruptions caused by any potential third wave.

During the second quarter this fiscal, the bank’s gross NPAs as a percentage of total loans increased 964 basis points on year-on-year basis to 10.82% from 1.18% during the same quarter last fiscal. On a quarter-on-quarter basis, the gross NPA ratio soared 264 bps from 8.18% in Q1FY22.

Net interest income (NII) for the quarter stood at Rs 1,935.41 crore, against Rs 1,923.09 crore in the year-ago period. Net interest margin (NIM) stood at 7.6%, down 4 bps from 8% for Q2FY21.

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Bandhan Bank Q1 results: Net profit slips 32%

 

Private sector lender Bandhan Bank reported a 32.1 per cent decline on annual basis in its net profit for the quarter ended June 30, 2021 at Rs.373.1 crore. The bank had posted a net profit of Rs.549.8 crore in the year-ago period, it said in a regulatory filing on Friday.

The decline in net profit came on the back of rise in provisions on bad loans, which grew by 62 per cent during the quarter under review. Provisions and contingencies (other than taxes) grew to Rs.1,374.9 crore during June quarter this fiscal, compared to Rs.849.1 crore in the corresponding quarter last fiscal.

"Bank have made accelerated provision on NPA accounts of Rs.751 crore, resulting in PCR of 62 per cent as against 50 per cent in Q4 FY21. In addition to this, Bank is also carrying additional standard assets provision amounting to Rs.323 crore and provision on restructured assets amounting to Rs.529 crore," Bandhan Bank said in its filing.

The bank reported a net interest income (NII), the difference between interest earned and interest expended, at Rs.2,114.1 crore for Q1 FY22, up 16.7 per cent from ₹1,811.5 crore in Q1 FY21. Net interest margin increased to 8.5 per cent, against 8.2 per cent as on June 30, 2020. Operating Profit for the quarter increased by 18.1 per cent to Rs.1,871.1 crore against Rs.1,584.2 crore in the corresponding quarter of the previous year.

Total advances, including on book, off book, TLTRO and PTC, grew by 8.1 per cent to ₹80,356.9 crore as on June 30, 2021 against Rs.74,330.5 crore as on June 30, 2020. Total deposits in June quarter increased by 27.6 per cent to Rs.77,335.5 crore, as compared to Rs.60,610 crore in year-ago period.

CASA ratio increased to 42.9 per cent in Q1 FY22 from 37.1 per cent in Q1 FY21. Capital Adequacy Ratio (CRAR) was at 24.8 per cent, lower compared to 26.5 per cent in Q1 FY21. Tier I capital ratio was at 23.8 per cent, while CRAR (including profit) was 25.3 per cent for the period under review.

Gross non-performing assets, as on June 30, 2021, stood at Rs.6,440.4 crore, or 8.2 per cent of gross advances. The bank had reported gross NPAs to the tune of Rs.1,006.6 crore or 1.43 of gross advances as on June 30, 2020.

Net NPAs also grew to Rs.2,457.9 crore during June quarter from Rs.335.8 crore crore in year-ago period. Net NPA ratio increased to 3.3 per cent from 0.5 per cent.

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Bandhan Bank Q1 results: Net profit falls 31.6%

Bandhan Bank reported 32 percent fall in first quarter net profit at Rs 550 crore as against Rs 804 crore in the year ago period due to seven times rise in provisions and contingencies while its overall repayment collection improved to 76 percent at the end of the reporting period.

Its operating profit rose 17 percent at Rs 1,584 crore against Rs 1,356 crore in the same period with net interest income growing 15 percent at Rs 1,811 crore (Rs 1575 crore). During the quarter it took accelerated additional provision on standard advances amounting to Rs 750 crore to cover the Covid-19-related credit risks. Total provisions stood at Rs 849 crore as against Rs 125 crore.

"We have taken an upfront hit so that the following quarters would be relatively easier," managing director Chandra Shekhar Ghosh told ET.

The extent to which the Covid-19 pandemic will impact the bank's provision on assets and future results will depend on future developments, which are highly uncertain, the bank said in a regulatory filing to stock exchanges.

“The repayment collection would have been better but for the Assam flood and extended lockdown in some states including Assam, Tamil Nadu and West Bengal,” Ghosh said.

The Kolkata-based private sector lender with 61 percent weightage on microfinance has witnessed 68 percent repayment efficiency from micro borrowers till the end of June while the collection from home loan borrowers revived to 85 percent.

Its net interest margin for the quarter was 8.15 percent compared with 8.63 percent in the year ago period. The bank is aiming to keep its net interest margin around the current level, chief financial officer Sunil Samdani said.

Bandhan said it has added 2.13 lakh customers during the quarter to take the base to over two crores even as the economic uncertainty looms large with demand and supply chains taking time to normalise after a three-month long lockdown.

Its gross non-performing assets ratio improved to 1.43 percent against 1.70 percent last year while the net ratio was at 0.48 percent against 0.58 percent.

Bandhan's capital adequacy ratio was at 26.45 percent, more than comfortable than the regulatory minimum.

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Bandhan Bank Q4 results: Profit declines 29% QoQ

Bandhan Bank on Tuesday posted 29 per cent quarter-on-quarter (QoQ) fall in net profit at Rs 517.28 crore for the quarter ended March 31 due to over two-fold rise in provision and contingencies.

Analysts in an ETNow Poll had projected a net profit of Rs 700 crore.

Provisions and contingencies increased to Rs 827.36 crore during the quarter under review against Rs 294.88 crore in the preceding quarter ended December 2019.

Asset quality of the company improved with the percentage of gross non-performing assets coming at 1.48 per cent in Q4FY20 over 1.93 per cent in December quarter.

In view of the amalgamation with GRUH Finance, the figures for the current quarter are not comparable with the corresponding figures of previous year.

Commenting on the performance, Chandra Shekhar Ghosh, Managing Director and Chief Executive Officer of Bandhan Bank said, “Q4FY20 has been a satisfying quarter given the challenges faced during the quarter. During the quarter, the bank has showcased the strengths of its deposit franchise with continuously growing deposits in all the segme ..

Net interest income increased 9 per cent QoQ to Rs 1,680 crore in Q4FY20.

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Bandhan Bank Q3 results, Profit more than doubles

Bandhan Bank on Tuesday reported a 120.85 per cent year-on-year (YoY) rise in net profit at Rs 731 crore for the December quarter compared with Rs 331 crore in the same quarter last year.

The numbers are not comparable as the third quarter results included figures for Gruh Finance, which was merged with the bank with effect from October 17, 2019.

The bank said its net interest income (Nil) jumped 37.10 per cent to Rs 1,541 crore for the quarter edned December 2019. This was against Rs 1,124 crore in the year-ago quarter.

Non-interest income rose 52.99 per cent to Rs 358 crore from Rs 234 crore on a YoY basis.

Net interest margin for the quarter came in at 7.9 per cent for the merged entity (including Gruh Finance) against 10.5 per cent (standalone) in the same quarter last year. Gross NPAs for the merged entity stood at 1.9 per cent compared with 2.4 per cent YoY on a standalone basis.

Chandra Shekhar Ghosh said: "During the quarter, the bank made additional provision of Rs 200 crore on standard advances in microfinance portfolio after evaluating risk observed in certain areas of a north eastern state, though having a dwindling effect. Last quarter has witnessed strong customer growth on advances and deposit growth has been highest over last four quarter. I am positive and confident on the business and growth going forward."

The company added 7.3 lakh customers during the quarter with total customer base at 1.9 crore as on December 31, the company said in a BSE filing.

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Bandhan Bank Q2 profit rises 99% YoY

Bandhan Bank on Thursday reported 99.28 per cent year-on-year (YoY) rise in net profit for the September quarter at Rs 971.79 crore. The bank had posted a profit of Rs 487.65 crore in the quarter ending September 2018.

However, it should be noted that the numbers for this quarter are not comparable to the same quarter last year due to its merger with Gruh Finance.

Net Interest Income (NII) for the quarter grew 41.84 per cent to Rs 1,529 crore as against Rs 1,078 crore in the corresponding quarter of the previous year. Non-interest income grew 56.96 percent to Rs 361 crore for the quarter ended September 2019 against Rs 230 crore from year ago quarter.

GNPA as at the end of Q2FY20 stood at 1.76 per cent against 2.02 per cent in the June quarter and 1.29 per cent in the September quarter last year.

Net NPA was flat at 0.56 per cent against 0.56 per cent at the end of June 2019 and 0.69 per cent as on September 2018.

CASA for the lender grew 38.69 per cent in the September quarter. CASA ratio was at 33.40 per cent against 36.9 per cent year-on-year.

“Our performance this quarter has been good. There has been a strong growth in deposits and advances with record growth in profits. As we step into the second half of the financial year we feel more confident given our current performance. Historically, second half-year has always been better than the first half-year. Having completed the merger in record time, we now look forward to enhancing the Housing Loan business with the expertise of the well experienced team and the well tested model coupled with our large distribution network and customer base,” Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank said.

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Bandhan Bank Q1 profit rises 45.5%, beats estimates

Private sector lender Bandhan Bank on Friday reported a 45.55% year-on-year rise in net profit at Rs.701.14 crore for the quarter ended 30 June, on the back of higher net interest income and other income.

It had posted a net profit of Rs.481.71 crore in the corresponding quarter last year. It was higher than Rs.622.7 crore estimated by a Bloomberg poll of five analysts.

Net interest income (Nll) for the quarter increased 35.98% to Rs.1,410.38 crore, against Rs.1,037.17 crore in the same quarter last year.

Other income grew 48.18% to Rs.312.21 crore during the quarter, from Rs.210.69 crore a year ago.

Percentage of gross non-performing assets (NPAs) climbed to 2.02% in Q1 from 2.04% on a quarter-on-quarter basis. Percentage of net NPAs stood at 0.56%, against 0.64% during the same period.

Provisions and contingencies rose 56.70% year-on-year to Rs.125.40 crore during the first quarter, from Rs.80.03 crore in the corresponding period last year.

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Bandhan Bank reports 68% jump in Q4 net profit

Bandhan Bank Ltd on Thursday reported a 67.8% increase in its March quarter net profit due to higher net interest and non-interest income. Net profit for the quarter stood at ₹651 crore, beating the Street's estimates, up 67.78% from ₹388 crore a year ago. Analysts expected the lender to report a net profit of ₹546.30 crore, according to a Bloomberg poll of eight analysts.

Net interest income (NII), or the core income a bank earns by giving loans, was up 45.60% to₹1,258 crore versus ₹864 crore last year. Non-interest income was at ₹388 crore, up 91.13% from ₹203 crore a year ago.

Provisions and contingencies surged 41.28% to₹199.97 crore in the quarter from ₹112.86 crore a year ago.

As a percentage of total loans, gross NPAs stood at 2.04% as compared to 2.41% in the previous quarter and 1.25% in the same quarter a year ago. Net NPAs were at 0.58% in the March quarter compared to 0.70% in the previous quarter and 0.58% in the same quarter last year.

Deposits rose 27.64% to ₹43,232 crore while advances increased 38.46% to ₹44,776 crore.

"The year 2018-19 has been a challenging year for the banking industry. We closed the financial year on a positive note with visibility of growth and improvement in asset quality and liability profile," said Chandra Shekhar Ghosh managing director and chief executive officer of Bandhan Bank.

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Bandhan Bank Q3 profit rises 10%

Bandhan Bank  on Thursday posted a 10.4 per cent rise in profit in the quarter ended December on account of rise in interest income. The net profit was Rs 331.3 crore in the period as compared to Rs 300 crore year earlier, said the private lender.

However, the asset quality of the bank which was listed last year worsened with gross bad loans as a percentage of total loans standing at 2.41 per cent at the end of December, compared with 1.29 per cent in the previous quarter and 1.67 per cent a year earlier.

The lender made a provision of Rs 385 crore for its exposure to a borrower from the infrastructure development and finance sector, the bank said. Total provisions, after accounting for a writeback for treasury investments, more than tripled to 3.78 billion rupees.

Key highlights

Net Interest lncome (Nll) for the quarter grew by 53.5% at Rs 1124 crore as against Rs 732 crore in the corresponding quarter of the previous year.

Non-interest income grew by 4.81 per cent at Rs 234 crore for the quarter ended December 31, 2018 against Rs 158 crore in the corresponding quarter of the previous year

Operating profit for the quarter increased by 56.8% at Rs 900 crore against Rs 1,574 crore in the corresponding quarter of the Previous Year.

Net interest Margin (NlM) for the current quarter stands at 70.3 per cent against 9.9 per cent in the corresponding quarter of the previous year and 9.7 per cent for FY 2017-18.

CASA ratio at 41.4 per cent of  total deposit, compared to 33.2 per cent in the corresponding period last year

CASA grew 7O.7 per cent Y-o-Y at Rs 14,342 crore compared to Rs 8,401 crore.

Tota| Advances (on book + off book) increased by 46.1 per cent of Rs 35,599 crore as on December 31, 2018 against Rs 24,364 crore as on December 31,2017

Total Deposits grew by 36.9 per cent as on December 31, 2018 is at Rs 34,639 crore as compared to Rs 25,294 crore on December 31, 2017.

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Bandhan Bank Q2 profit jumps 47%

Bandhan Bank Ltd on Wednesday reported a 47.3% jump in its September-quarter net profit due to higher other income and net interest income. Net profit for the quarter stood at Rs487.65 crore against Rs331.09 crore a year ago.

Net interest income (NII), or the core income a bank earns by giving loans, was up 55.35% to Rs1,077.45 crore versus Rs693.57 crore last year. Other income was at Rs230.44 crore, up 35.16% from Rs173.24 crore a year ago.

Provisions and contingencies rose 42.83% to Rs124.18 crore in the quarter from Rs86.94 crore a year ago. On a quarter-on-quarter basis, these surged 55.17% from Rs80.03 crore.

Gross non-performing assets (NPAs) surged 48.07% to Rs413.35 crore at the end of the September quarter from Rs279.15 crore in the same quarter last year.

As a percentage of total loans, gross NPAs fell to 1.29% as compared with 1.43% in the year-ago quarter. Net NPAs were at 0.69% against 0.76% a year ago.

Advances for the quarter grew 64.1% to Rs 31,729.80 crore while deposits rose 30% to Rs 32,958.90 crore.

Recently, the Reserve Bank of India barred the bank from opening new branches and put a freeze on the remuneration of its managing director and chief executive officer Chandra Shekhar Ghosh. The lender has, however, said that it is taking necessary steps to comply with licensing condition and shall continue to engage with the RBI in this regard.

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RBI withdraws new branch permission & freezes compensation of MD & CEO of Bandhan Bank

The Reserve Bank of India (RBI) has frozen the remuneration of Bandhan Bank chief executive officer and managing director Chandrashekhar Ghosh for not complying with the promoter shareholding norms. Bandhan Bank also cannot open new branches without the regulator's permission.

"RBI has communicated to us that since the Bank was not able to bring down the shareholding of Non Operative Financial Holding Company (NOFHC) to 40 percent as required under the licensing condition, general permission to open new branches stands withdrawn and the Bank can open branches with prior approval of RBI and the remuneration of the MD & CEO of the Bank stands frozen at the existing level, till further notice," Bandhan Bank informed the stock exchanges.

The bank is taking necessary steps to comply with the licensing condition to bring down the shareholding of NOFHC in the Bank to 40 percent and shall continue to engage with RBI in this behalf, it added.

RBI’s licensing norms require a private sector bank to bring down its promoter shareholding to 40 percent within three years of operations.

Previously a microfinance institution, Bandhan Bank is one of the youngest private sector banks in India, completing three years on August 23. Bandhan went for an initial public offering (IPO) in March this year, which resulted in the promoter holding falling to 82.28 percent from 89.62 percent.

Recently, the bank failed in concluding talks to acquire PNB Housing Finance, which could have helped in bringing down the promoter holding.

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Bandhan Bank posts 47.5% rise in Q1 net profit

Bandhan Bank Ltd on Wednesday reported a 47.5% jump in its June-quarter net profit due to higher other income and net interest income. Net profit for the quarter stood at Rs 481.71 crore against Rs 326.56 crore a year ago.

Net interest income (NII), or the core income a bank earns by providing loans, was up 39.50% to Rs 1,037.17 crore from Rs 743.49 crore last year. Other income was at Rs 210.69 crore, up 72.75% from Rs 121.96 crore a year ago.

Provisions and contingencies rose 43.83% to Rs 80.03 crore in the quarter from Rs 55.64 crore a year ago. On a quarter-on-quarter basis, these declined 26.64% from Rs 109.09 crore.

Gross non-performing assets (NPAs) surged 121.67% to Rs 388.34 crore at the end of the June quarter from Rs 175.19 crore in the same quarter last year.

As a percentage of total loans, gross NPAs stood at 1.26% as compared to 1.25% in the previous quarter and 0.93% in the year-ago quarter. Net NPAs were at 0.64% in the June quarter compared to 0.58% in the previous quarter and 0.56% in the same quarter last year.

Advances for the quarter grew 52% to Rs 32,590 crore while deposits rose 37% to Rs 30,703 crore.

“The start of FY19 has been promising with advances growing year-on-year by 52%, overcoming the seasonality we normally witness during the first quarter.We will strive to maintain growth and the quality of assets during this financial year,” said Chandra Shekhar Ghosh, managing director and chief executive officer of the bank.

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Bandhan Bank Q4 result, profit rises 20%

Bandhan Bank Ltd on Friday reported a 20.3% jump in its March quarter net profit due to higher net interest income and other income.

Net profit for the quarter stood at Rs387.86 crore against Rs322.41 crore a year ago.

Net interest income (NII), or the core income a bank earns by giving loans, increased 25.2% to Rs863.40 crore versus Rs689.72 crore last year. Other income was at Rs203.37 crore, up 57.1% from Rs129.43 crore a year ago.

Provisions and contingencies surged 200% to Rs109.08 crore in the quarter from Rs36.44 crore a year ago. On a quarter-on-quarter basis, they fell 11% from Rs122.55 crore.

Gross non-performing assets (NPAs) advanced 333% to Rs373.14 crore at the end of the March quarter from Rs86.26 crore in the same quarter last year.

As a percentage of total loans, gross NPAs stood at 1.25% as compared to 1.67% in the previous quarter and 0.51% in the year-ago quarter. Net NPAs were at 0.58% in the March quarter compared to 0.8% in the previous quarter and 0.36% in the same quarter last year.

Advances for the quarter rose 76.45% from a year ago to Rs297.13 billion, while Deposits gained 45.81% to Rs338.69 billion.

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Punjab National Bank(PNB) Q3 net profit rises 11.06%

Punjab National Bank's third quarter (October-December) earnings missed analyst expectations on Tuesday, but asset quality improved sequentially.

Profit growth of 11 percent at Rs 230.11 crore and net interest income growth of 7 percent at Rs 3,989 crore year-on-year were below CNBC-TV18 poll of Rs 558.1 crore and Rs 4,122.9 crore, respectively.

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Bandhan Bank Q2 profit rises 18.2%

The Kolkata-based private sector lender Bandhan Bank on Saturday reported an over 18% growth in net profit for the quarter to September at Rs331 crore on a substantial rise in both net interest income and non- interest income.

Net interest income for the quarter rose nearly 22% to Rs694 crore from Rs569 crore a year ago, while non- interest income rose a higher 66.42% to Rs223 crore from Rs134 crore, the bank said in a statement. Its current accounts-saving accounts deposits rose to 28.18% of total deposits from 16.71% in the year-ago period.

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Bandhan Bank Q1 net profit up 35%

Bandhan Bank’s stressed assets at the end of June almost doubled on a sequential basis, as loan waivers in Uttar Pradesh and Maharashtra triggered defaults in other states like Madhya Pradesh and Haryana—where borrowers thought they could skip payments, the bank said on Thursday.

Announcing the bank’s June quarter financial performance, in Kolkata, managing director and chief executive officer Chandra Shekhar Ghosh said net profit jumped 35% year-on-year to Rs327 crore, thanks to business expansion.

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Bandhan Bank Q4 result, reports profit at Rs1,111.95 crore

Bandhan Bank on Thursday reported a net profit of Rs1,111.95 crore for the financial year that ended on 31 March. A comparable year-ago figure wasn’t available because the lender started operations only in August 2015.

Net interest income, or the core income a bank earns by giving loans, was Rs2,403.50 crore. Gross advances were Rs23,543.29 crore and deposits stood at Rs23,229 crore.

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Top 10 Private Banks in India 2017

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