Bandhan Bank Reports 244% Rise in Q2 Net Profit at Rs 721.20 Crore

19 Oct 2023 , 11:49 AM

Bandhan Bank reported a Q2 net profit of Rs 721.20 crore, marking a remarkable 244 % YoY increase from Rs 209.3 crore in the same quarter of the previous year. Gross non-performing assets (GNPA) for the bank in the reporting quarter increased by 14.8 % YoY, reaching Rs 7,874 crore, up from Rs 6,854 crore a year ago.

The net NPA ratio also increased by 40 % YoY in July-September, with net NPA at Rs 2,366 crore compared to Rs 1,679 crore in the same period last year. Net Interest Income (NII) stood at Rs 2,443.40 crore, and total quarterly income increased to Rs 5,032 crore from Rs 4,250 crore in the previous year’s corresponding period.

Provisions and contingencies increased by 5.6 % QoQ, reaching Rs 636.20 crore, up from Rs 602 crore in Q1.

Bandhan Bank’s total deposits at the end of the quarter were Rs 1.12 lakh crore, showing a 12.7 % YoY growth from Rs 99.36 lakh crore in the corresponding quarter last year. The bank’s loan portfolio, including personal, housing, corporate, MSMEs, and others, reached Rs 1.08 lakh crore by the end of the July-September quarter.

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