Bandhan Bank Q1 Results FY2023, PAT at Rs. 886.5 crores

On 22nd July 2022, Bandhan Bank announced its quarterly results for the first quarter of FY2023.

Q1FY23 Key Highlights:

- Bandhan Bank’s Net Interest Income (NII) for the quarter grew by 18.9% to Rs. 2,514.4 crore for Q1FY23 as against Rs. 2,114.0 crores in Q1FY22. 

- Total Advances (on book + off book + TLTRO + PTC) grew by 20.3% to Rs. 96,649.7 crore as on June 30, 2022 against Rs. 80,356.9 crore as on June 30, 2021

- Total Deposits increased by 20.3% to Rs. 93,057.0 crores for Q1FY23 compared to Rs. 77,335.5 crores for Q1FY22. 

- Gross NPAs was at Rs. 6,967.6 crores with a growth of 8.32%.

- Net NPAs as of June 30, 2022, improved to 1.92% against 3.29% as of June 30, 2021

- The bank reported its Operating profit at Rs. 1820.6 crores seeing a decline of 7% YoY.

- The PBT was reported at Rs. 1178.2 crores with a growth of 137.4% YoY.

- Bandhan Bank reported its PAT at Rs. 886.5 crores with a yearly growth of 137.6% YoY.

Business Highlights:

-  Loan portfolio (on book + off book + TLTRO + PTC) grew 20.3% YoY   

- The provisioning Coverage Ratio (PCR %) stood at 74.9% as of June 30, 2022, against 61.8% as of June 30, 2021  

- Capital Adequacy Ratio (CRAR) at 19.4%; Tier I at 18.3% 

- Banking outlets for Q1FY23 stood at 5,640. 

- Bandhan Bank’s network consists of 1,190 branches, and 4,450 banking units as against 1,152 branches and 4,422 banking units as of June 30, 2021. 

- Total number of ATMs stood at 429 as of June 30, 2022, against 487 as of June 30, 2021. 

- During the quarter, the number of employees of the bank has gone up from 60,211 to 61,247.

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 FY23 will be to grow the Balance Sheet and focus on product and geographic diversification as per Bank’s strategy.”