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Bandhan Bank Q3 Results: Net profit up 35.7% YoY to Rs 859 crore; operating profit at Rs 1,950.1 crore

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Bandhan Bank Q3 Results: Net profit up 35.7% YoY to Rs 859 crore; operating profit at Rs 1,950.1 crore

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In its quarterly earnings report released on Friday, the bank said its operating profit for the latest quarter increased by 1.4 percent to Rs 1,950.1 crore as against Rs 1,923.1 crore in the corresponding quarter of the previous year.

Bandhan Bank Q3 Results: Net profit up 35.7% YoY to Rs 859 crore; operating profit at Rs 1,950.1 crore
Bandhan Bank Limited today declared a healthy 35.7 percent annual growth in net profit to Rs 859 crore at the end of the quarter ended December 31, up from Rs 632.6 crore in the year-ago period. In its quarterly earnings report released on Friday, the bank said its operating profit for the latest quarter increased by 1.4 percent to Rs 1,950.1 crore as against Rs 1,923.1 crore in the corresponding quarter of the previous year.
According to the report, the bank's Net Interest Income (NII) for the quarter grew by 2.6 percent year-on-year to Rs 2,124.7 crore from ₹2,071.7 crore in Q3FY21, while its non-interest income grew by 26.7 percent YoY to Rs 712.3 crore, up from Rs 562.3 crore in Q3FY21.
The bank further reported that its Net Interest Margin (annualised) for Q3FY22 stood at 7.8 percent as against 7.6 percent in Q2FY22. According to the report, Bandhan's total advances grew by 9.6 percent YoY to Rs 87,997.7 crore, from the Rs 80,255.2 crore reported in Q3FY21.

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The bank further reported that its total deposits increased by 18.7% YoY to Rs 84,499.8 crore, while the gross non-performing assets (NPAs) stood at Rs 9,441.6 crore (10.81 percent) as against Rs 8763.6 crore (10.82 percent) as on September 30, 2021. Further, the net NPAs in Q2FY22 stood at Rs 2,413.1 crore (3.01 percent) as against Rs 2,265.8 crore (3.04 percent) as on September 30, 2021.
Commenting on the performance, the banks's Managing Director and CEO Chandra Shekhar Ghosh said: “We have seen all-round recovery during the quarter with improved collection and increase in disbursement. Historically, Q4 has been the best quarter for the bank and we are positive of our business going forward."
At the end of the latest quarter, Bandhan's banking outlets numbered 5,626. The bank's network comprises 1,176 branches and 4,450 banking units as against 1,107 branches and 4,090 banking units in Q3FY21. The total number of ATMs increased by two YoY to 489. During the quarter, the number of employees of the bank increased from 52,976 to 55,341.
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