Bandhan Bank Ltd's Q3FY19 standalone net profit rises 10.4% yoy to Rs331.30cr: In-line with Estimates

The bank’s standalone NII in the quarter stood at Rs1,124cr, up 53.6% yoy and 4.32% qoq.

Jan 10, 2019 08:01 IST India Infoline Research Team

Bandhan Bank Ltd Q3FY19

Standalone Results Q3FY19: (in Rs cr)

Q3FY19 YoY (%)
NII 1,124 53.6
GNPA (%) 2.4 112
Provisions 377.60 208.1
Net Profit (adjusted) 331.30 10.4
***GNPA change is in bps and on qoq basis

Bandhan Bank’s NII in Q3FY19 improved 53.6% yoy to Rs1,124cr against Rs732cr. The bank’s net profit, which improved 10.4% yoy to Rs331.3cr against Rs300cr in the corresponding period last year, was in-line with the consensus estimates due to higher NII. Its GNPA for the third quarter stood at 2.41% against 1.29% qoq, an increased of 112bps. NNPA for the quarter came in at 0.7%, almost flat qoq.
  • Loan book and deposits grew 46.1% and 36.9% yoy, respectively, to Rs35,599cr.
  • Its cost-to-income ratio for the quarter came in at 33.7% as against 33.2% qoq and 35.4% yoy.
  • During the quarter, it has made provisions of Rs385cr towards the exposure to IL&FS. Exposure to IL&FS is now fully provided for during the quarter.
  • Bandhan Bank saw 21% growth in its MSME segment in Q3FY19.
  • NIMs for Q3FY19 stood at 10.5% as against 10.3% qoq, an increase of 20bps yoy.
  • The bank said that it will focus on the growing affordable housing segment, where it sees potential growth.
  • Retail deposit to total deposit was at 84.8%; CASA grew 70.7% yoy to Rs14,342cr and the CASA ratio came in at 41.4%.

Technical View:

Bandhan Bank Ltd share price is currently at Rs465.10, up 10.75 points, or 2.37%, from its previous close of Rs. 454.35 on the BSE. The scrip opened at Rs456 and has touched a high and low of Rs467.15 and Rs450, respectively. So far, 54,10,683 (NSE+BSE) shares have been traded on the counter. The stock is currently trading above its 100-DMA.

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