Bandhan Bank Ltd's Q2FY19 standalone net profit rises 47.4% yoy to Rs488cr : Beats Estimates

India Infoline Research Team | October 10, 2018 17:01 IST

The bank’s standalone NII stood at Rs1,078cr, up 55.56% yoy.

Bandhan Bank Ltd Q2FY19

Standalone Results Q2FY19: ( cr)

Q2FY19 YoY (%)
NII 1,078 55.6
GNPA (%) 1.3 5
Provisions 124.17 42.8
Net Profit (adjusted) 488 47.4
***GNPA change is bps

Bandhan Bank’s Q2FY19 NII has improved by 55.6% yoy to Rs1,078cr against Rs693cr in the corresponding quater previous year. The NIMs for Q2FY19 stood at 10.3% as against 9.3% yoy, which has increased by 100bps yoy. The bank’s net profit was above estimates due to higher NII, which has improved by 47.4% yoy to Rs488cr against Rs331cr in corresponding period last year. Its GNPA for Q2FY19 stood at 1.3% against 1.25% qoq, higher by 5bps. NNPA for the quarter came at 0.7% against 0.6% qoq, which has increased by 10bps.

  • Its loan portfolio (on book + off book) grew 50.9% yoy at Rs33,373cr, whereas deposit portfolio grew 29.6% yoy at Rs32,959cr for the quarter  
  • Its retail deposit to total deposit ratio came at 81.6%, CASA grew 69.8% yoy at Rs12,176cr, while CASA ratio is at 36.9% for the quarter
  • The bank’s CD ratio and capital adequacy ratio came at 96.9% & 32.6% respectively.
  • The bank  has added 7.60 lakh customers during the quarter, taking the total customer base to 1.44 cr
  • During the H1FY19, out of Rs262.94cr of PSLC income, Rs130.28cr has been recognized during H1FY19 of which Rs66.32 crore has been recognized during Q2FY19 
  • Its MTM Loss on bonds of was Rs37.39cr in Q2FY19

Technical View:

Bandhan Bank Ltd is currently trading at Rs. 505.60, up by 20.7 points or 4.27% from its previous closing of Rs. 484.90 on the BSE.
The scrip opened at Rs. 495.25 and has touched a high and low of Rs. 521.40 and Rs. 495.25 respectively. So far 38,92,178 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50 DMA.

BSE 417.00 [37.20] ([8.19]%)
NSE 416.30 [38.15] ([8.39]%)

***Note: This is a NSE Chart



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