Bandhan Bank Q3 PAT up 35.8% at Rs859cr on sharp fall in loan loss provisions

23 Jan 2022 , 05:21 PM

Bandhan Bank Ltd reported 6.48% growth in total revenues for the Dec-21 quarter on consolidated basis at Rs4,121cr. On a sequential basis, the revenues were higher for the quarter by 11.13%.

During the quarter, the bank saw good traction in retail banking while top line and operating profit in treasury and corporate banking remained under stress.

Loan portfolio grew 9.6% in the quarter. CASA has improved from 42.9% to 45.6% yoy. Net interest income or NII was up 2.6% yoy at Rs2,125cr. Advances grew 9.7%, deposits 18.7%.

The consolidated Profit after tax (PAT) for the Dec-21 quarter was up 35.79% at Rs859cr. Net interest margins or NIM improved yoy from 7.6% to 7.8%.

Gross NPAs were flat at 10.81% while net NPAs stood at 3.01%. CRAR at 20% is comfortable. Provisions fell sharply to Rs806cr compared to Rs5,613cr in the sequential quarter.

PAT margins were higher from 3.92% in Dec-20 to 5.33% in Dec-21 quarter. The company reported cost to income ratio 31.3%, ROE of 22.2% and Return on assets at a healthy 2.8%. Gros NPAs are elevated.

Financial highlights for Dec-21 compared yoy and sequentially

	Bandhan Bank
Rs in Crore	Dec-21	Dec-20	YOY	Sep-21	QOQ
Total Income (Rs cr)	₹ 4,121	₹ 3,870	6.48%	₹ 3,708	11.13%
Net Profit (Rs cr)	₹ 859	₹ 633	35.79%	₹ -3,009	-128.55%
Diluted EPS (Rs)	₹ 5.33	₹ 3.92		₹ -18.68
Net Margins	20.84%	16.35%		-81.14%