Bandhan Bank Q1 Results FY2024, Profit at Rs. 7.2 billion

Shreya Anaokar 14th July 2023 - 05:00 pm

On 14th July 2023, Bandhan Bank announced its quarterly results for the last quarter of FY2023.

Bandhan Bank Financial Highlights:

- Net Interest Income was reported at Rs. 24.9 billion, a drop of 0.8% YoY.
- Operating profit was reported at Rs. 15.6 billion, a drop by 14.2% YoY.
- Profit before tax was reported at Rs. 9.6 billion, a drop by 18.6% YoY.
- Bandhan Bank posted a Net profit of Rs. 7.2 billion, a drop by 19.10% YoY.

Bandhan Bank Business Highlights:

- The Commercial Banking book grew by 78% YoY
- Retail Loan books other than housing finance books grew by 86.5%
- Housing Finance Book grew by 9.5%
- The collection efficiency for the EEB book stands at 98%
- Deposits grew 16.6% YoY at Rs. 1.08 Lakh crore
- Loan portfolio (on book + off book + TLTRO + PTC) grew 6.7% YoY at Rs.1.03 lakh crore
- CASA deposits at Rs.39,077 crore; CASA ratio remained healthy at 36%
- GNPA improved to 6.76% and Net NPAs stood at 2.18%
- Capital Adequacy Ratio (CRAR) at 19.8%; Tier I at 18.8%; CRAR (including profit) at 20.5%
- Bandhan Bank added nearly 7 lakh customers in Q1FY24 and the total number of customers stands at 3.07 crore. Banking outlets as on June 30, 2023, stood at 6,140. The network consists of 1,542 branches and 4,598 banking units

Commenting on the results, Mr. Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank said: “This quarter’s performance indicates that the bank is on a stable growth path. The Bank has also made significant progress in diversifying its asset book. Our investment in people, Technology, IT & expansion over the last few quarters will surely improve the performance of the bank”.

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Shreya Anaokar

Disclaimer: Investment/Trading is subject to market risk, past performance doesn’t guarantee future performance. The risk of trading/investment loss in securities markets can be substantial. Also, the above report is compiled from data available on public platforms.

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