Bandhan Bank records PAT of Rs 886 crore in Q1 FY23

22 Jul 2022 , 04:52 PM

Net interest income (NII) increased by 18.9% YoY to Rs 2,514.4 crore in Q1 FY23. Net interest margin (NIM) in Q1 FY23 was 8% as against 8.5% in Q1 FY22. Total income rose by 8.9% to Rs 4,385 crore in Q1 FY23 from Rs 4,027 crore in Q1 FY22. Cost to income ratio was at 36% in Q1 FY23 as against 29.3% in Q1 FY22 and 28% in Q4 FY22. Operating profit in the first quarter declined by 7% to Rs 1,820.6 crore from Rs 1,957.1 reported in the same period last year. Provisions dropped by 56% to Rs 642.4 crore in Q1 FY23 from Rs 1,460.9 crore in Q1 FY22. The bank reported a pre-tax profit of Rs 1,178.2 crore in Q1 FY23, which is significantly higher as compared with Rs 496.2 crore in Q1 FY22. Gross NPAs as on 30 June 2022 is at Rs 6,967.6 crore against against Rs 6,440.4 crore as on 30 June 2021 and Rs 6,380 crore as on 31 March 2022. Gross NPA ratio improved to 7.25% as on 30 June 2022 as against 8.18% as on 30 June 2021 and 6.46% as on 31 March 2022. Net NPA ratio improved to 1.92% as on 30 June 2022 as against 3.29% as on 30 June 2021 and 1.66% as on 31 March 2022. Total Advances (on book + off book + TLTRO + PTC) grew by 20.3% to Rs 96,649.7 crore as on 30 June 2022 against Rs 80,356.9 crore as on 30 June 2021. Total Deposits increased by 20.3% to Rs 93,057 crore as on 30 June 2022 as compared to Rs 77,335.5 crore as on 30 June 2021. Tier-1 was at 18.3% as on 30 June 2022 as against 23.8% as on 30 June 2021. CRAR stood at 19.4% as on 30 June 2022 as against 24.8% as on 30 June 2021. Chandra Shekhar Ghosh, managing director and CEO of Bandhan Bank said: ?With asset quality and credit cost stabilizing, our focus in FY 23 will be to grow the balance sheet and focus on product and geographic diversification as per banks strategy.? Bandhan Bank operates as a commercial bank. The banking outlets as on 30 June 2022 stood at 5,640, which comprised of 1,190 bank branches, 4,450 banking units and 429 ATMs. The scrip rose 1.04% to currently trade at Rs 286.25 on the BSE. Powered by Capital Market – Live News