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Bandhan Bank back in black, posts Rs 209.3 crore net profit

Bandhan Bank back in black, posts Rs 209.3 crore net profit

Bandhan Bank back in black, posts Rs 209.3 crore net profit
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By Jomy Jos Pullokaran  Oct 28, 2022 4:51 PM IST (Published)

Shares of Bandhan Bank ended at Rs 265.20, down by Rs 5.75, or 2.12 percent on the BSE.

Private lender Bandhan Bank on Friday reported a net profit of Rs 209.3 crore for the second quarter that ended September 30, 2022.

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In the corresponding quarter last year, the company posted a loss of Rs 3,008.6 crore. A CNBC-TV18 poll had predicted a profit of Rs 749.8 crore for the quarter under review.
The net interest income (NII) of the bank jumped 13.3 percent, coming in at Rs 2,193 crore as against Rs 1,935.4 crore in the corresponding quarter of FY22.
Gross non-performing assets (NPAs) stood at 7.19 percent in the September quarter against 7.25 percent in the June quarter. Net NPA came at 1.86 percent against 1.92 percent quarter-on-quarter. Provisions stood at Rs 1,280 crore against Rs 642.4 crore (QoQ) and Rs 5,613 crore (YoY).
The total advances grew by 17.4 percent to Rs 95,834.9 crore as on September 30, 2022, against Rs 81,661.2 crore as on September 30, 2021. Total deposits increased by 21.3 percent to Rs 99,365.8 crore as on September 30, 2022, as compared to Rs 81,898.3 crore as on September 30, 2021.
Chandra Shekhar Ghosh, managing director and CEO of Bandhan Bank said, "As we enter the second half of FY23, the focus shifts to growth, and with pandemic-related stress is phasing out, we look forward to end the fiscal on a high note."
The bank's banking units, as on September 30, 2022, stood at 5,646. The network consists of 1,190 branches and 4,456 banking units as against 1,168 branches and 4,450 banking units as on September 30, 2021.
The total number of ATMs stood at 432 as on September 30, 2022, against 487 as on September 30, 2021. During the quarter, the number of employees at the bank went up from 61,247 to 64,078.
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