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Bandhan Bank Profit Surges 36% To Rs 859 Crore In December Quarter

Total income during the quarter under review increased by 7.7 per cent to Rs 2,837 crore from Rs 2,625 crore in the same period of 2020-21.

Bandhan Bank Profit Surges 36% To Rs 859 Crore In December Quarter
The net interest income rose marginally to Rs 2,124.7 crore as against Rs 2,071.7 crore. Deposit Photos

Bandhan Bank on Friday reported a 36 per cent rise in net profit at Rs 859 crore for the third quarter ended December 31, 2021.  

 The private sector lender had posted a net profit of Rs 633 crore in the same period of the previous fiscal year.  

 Total income during the quarter under review increased by 7.7 per cent to Rs 2,837 crore from Rs 2,625 crore in the same period of 2020-21, Bandhan Bank said in a regulatory filing.  

 The net interest income rose marginally to Rs 2,124.7 crore as against Rs 2,071.7 crore.  

 On the asset quality front, gross non-performing assets (NPAs) rose significantly to 10.81 per cent of gross advances against 1.1 per cent in the year-ago period. Similarly, net NPAs increased to 3.01 per cent from 0.26 per cent.  

 However, provisions other than tax and contingencies declined to Rs 805.71 crore as compared to Rs 1,077.83 crore earlier.  

 Net Interest Margin also slipped to 7.8 per cent during the quarter from 8.3 per cent in the same period of the previous fiscal.  

 "Despite technical write off of Rs 1200 crore during the quarter, Provision Coverage Ratio (PCR) improved from 74.1 per cent as on September 30, 2021, to 74.4 per cent as on December 31, 2021," it said.

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