Bandhan Bank Q2FY23 PAT turns around to profit at Rs209.3 crore on 77% lower doubtful debt provisions

29 Oct 2022 , 08:57 AM

Bandhan Bank Ltd reported -3.08% fall in total revenues for the September 2022 quarter on consolidated basis at Rs4,250cr.

Revenue increase was 14.69% in sequential terms. In terms of verticals, on a yoy basis, Bandhan Bank showed improvement in revenues across treasury, corporate banking and retail banking.

Loan portfolio grew 17.4% you while the deposits were up 21.3% with CASA share falling to 40.8%.

Net interest income (NII) was up 13.3% at Rs2,193 crore while the net interest margins or NIMs stood at a high level of 7%. The bank has a total network of 5,646 banking units as of September 2022.

Consolidated Profit after tax (PAT) for September 2022 turned around to profit of Rs209.3 crore from net loss of Rs-3,008 crore.

This was due to 77% fall in loan loss provisions in the quarter. Net interest margins of 7% gave a boost to operating profits across verticals. Non-interest income was down -9.2% on yoy basis.

Gross NPAs are down from 10.82% to 7.19% yoy, but still much higher on absolute basis. Net NPAs are lower at 1.86%. Net profit margins at 4.92% in Q2FY23 is higher compared to -68.6% in Q1FY22 but lower than 23.9% in Q1.

Financial highlights for Sep-22 compared yoy and sequentially

	Bandhan Bank
Rs in Crore	Sep-22	Sep-21	YOY	Jun-22	QOQ
Total Income (Rs cr)	₹ 4,249.87	₹ 4,385.05	-3.08%	₹ 3,705.39	14.69%
Net Profit (Rs cr)	₹ 209.27	₹ -3,008.60	N.A.	₹ 886.50	-76.39%
Diluted EPS (Rs)	₹ 1.30	₹ -18.50		₹ 5.50
Net Margins	4.92%	-68.61%		23.92%