Bandhan Bank Net Profit jumps 138% to 886.5 crore in Q1 FY23, From 373.1 crore in Q1 FY22

NEWS WAVE INDIA: The Board of Directors of Bandhan Bank Ltd., at a meeting held in Kolkata on friday approved its Financial Results for the Quarter ended June 30, 2022. The accounts have been subjected to “Limited Review” by the statutory auditors of the bank.

Commenting on the performance, Mr. 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 Bank’s strategy.”

Banking outlets as on June 30, 2022, stood at 5,640. The network consists of 1,190 branches, 4,450 banking units as against 1,152 branches and 4,422 banking units as on June 30, 2021. Total number of ATMs stood at 429 as on June 30, 2022 against 487 as on June 30, 2021. During the quarter, the number of employees of the bank has gone up from 60,211 to 61,247.

Key Highlights:

• Loan portfolio (on book + off book + TLTRO+PTC) grew 20.3% YoY
• Deposits grew 20.3% YoY
• CASA grew 21.1% YoY; CASA ratio at 43.2% against 42.9% YoY GNPA as on June 30, 2022 improved to 7.25% against 8.18% as on June 30, 2021
• Net NPAs as on June 30, 2022 Improved to 1.92% against 3.29% as on June 30, 2021 PCR % at 74.9% as on June 30, 2022 against 61.8% as on June 30, 2021
• Capital Adequacy Ratio (CRAR) at 19.4%; Tier at 18.3%; CRAR (Including profit) at 20.4% NIM stands at 8.0%
• ROA & ROE (annualized) for Q1 FY 23 stands at 2.5% and 20% respectively.

Highlights for the Quarter ended June 30, 2022:

• Net Interest Income (NII) for the quarter grew by 18.9% to 2,514.4 crore as against 2,114.0 crore in the corresponding quarter of the previous year.
• Total Advances (on book + off book + TLTRO + PTC) grew by 20.3% to 96,649.7 crore as on June 30, 2022 against 80,356.9 crore as on June 30, 2021.
• Total Deposits increased by 20.3% to 93,057.0 crore as on June 30, 2022 as compared to * 77,335.5 crore as on June 30, 2021.
• Gross NPAs as on June 30, 2022 is at 6,967.6 crore (7.3%) against 6,380.0 crore (6.5%) as on March 31, 2022 and against 6,440.4 crore (8.2%) as on June 30, 2021.