Bandhan Bank Q1 FY20 net profit jumps 45.44% at ₹ 701 crore

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The Board of Directors of Bandhan Bank Ltd., at a meeting held in Kolkata today approved its Quarterly Financial Results for the Quarter ended June 30, 2019. The accounts have been subjected to a review by the statutory auditors of the bank.

Key Highlights :

Ø Deposit portfolio grew 42.33% YoY

Ø Loan portfolio (on book + off book) grew 39.36% YoY

Ø CASA grew 44.73% YoY

Ø CASA ratio at 36.06% against 35.46% YoY

Ø Added 7.08 lakh customers during the quarter; total customer base grew by 26.52% YoY to 1.73 crore

Ø GNPA as on June 30, 2019 at 2.02% against 2.04 % in March 31, 2019 and 1.26% as on June 30, 2018

Ø GNPA (excluding one large Infrastructure account) stood at 1.11%

Ø Net NPAs as on June 30, 2019 at 0.56% against 0.58% in March 31, 2019 and 0.64% as on June 30, 2018

Ø Capital Adequacy Ratio (CRAR) at 27.03%; Tier I at 25.75% and CET 1 at 25.75%

Highlights for the Quarter ended June 30, 2019:

·         Net Interest Income (NII) for the quarter grew by 36.07% to ₹ 1,411 crore as against ₹ 1,037 crore in the corresponding quarter of the previous year

·         Non-interest income grew by 47.87% to ₹ 312 crore for the quarter ended June 30, 2019 against ₹ 211 crore in the corresponding quarter of the previous year

·         Operating Profit for the quarter increased by 47.14% to ₹ 1,208 crore against ₹ 821 crore in the corresponding quarter of the previous year

·         Net Profit for the quarter grew by 45.44% to ₹ 701 crore against ₹ 482 crore in the corresponding quarter of the previous year

·         Net Interest Margin (NIM) for the quarter ending June 30, 2019 stood at 10.45% against 10.27% in the corresponding quarter of the previous year

·         CASA ratio at 36.06% of total deposit, compared to 35.46% in the corresponding period last year

·         Total Advances (on book + off book) grew by 39.36% to ₹ 45,420 crore as on June 30, 2019 against ₹ 32,590 crore as on June 30, 2018

·         Total Deposits increased by 42.33% to ₹ 43,701 crore as on June 30, 2019 as compared to ₹ 30,703 crore as on June 30, 2018

·         Gross NPAs as on June 30, 2019 is at 2.02% against 2.04% as on March 31, 2019

·         Net NPAs as on June 30, 2019 is at 0.56% against 0.58% as on March 31, 2019

Commenting on the performance, Mr. Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank said: “The year 2019-20 has started on a promising note with asset growth at 39.36% along with stable asset quality. During the year we expect the Gruh merger to get consummated which will bring diversification and will add to growth.”

Banking outlets as on June 30, 2019, stood at 4,013. The network consists of 999 branches and 3,014 doorstep service centers as against 937 branches and 2,764 doorstep service centers as on June 30, 2018. Total number of ATMs stood at 481 as on June 30, 2019 against 475 as on June 30, 2018. During the year, the number of employees of the bank has gone up from 28,826 to 32,774.

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