Bandhan Bank Profit Grows 1.5% YoY In FY24
Net NPA is 1.1 per cent in Q4 FY24 as against 2.2 per cent in Q3 FY24
Bandhan Bank’s net revenue has been Rs 12,490 crore in the financial year ending March 2024 (FY24) as compared to Rs 11,728 crore in FY23.
Net interest income (NII) for FY24, stood at Rs 10,326 crore compared to Rs 9,260 crore in FY23, representing a growth of 11 per cent. Net interest margin (NIM) for the year was 7.3 per cent.
The profit before tax for the year ended 31 March 2024, stood at Rs 2,943 crore compared to Rs 2,893 crore in the corresponding period of the previous year.
The profit after tax for the year ended 31 March 2024, stood at Rs 2,229 crore compared to Rs 2,195 crore in the corresponding period of the previous year.
Return on equity for the year was 10.7 per cent and Return on Assets was 1.4 per cent.
The Bank’s net revenue as of the quarter ending March 2024 (Q4 FY24) was Rs 3,560 crore as compared to Rs 3,101 crore in Q4FY23, a growth of 15 per cent.
Net interest income (NII) as of Q4 FY24, stood at Rs 2,866 crore compared to Rs 2,472 crore as of Q4 FY23, representing a growth of 16 per cent.
Net Interest Margin (NIM) for the quarter was 7.6 per cent, for the full year NIM stood at 7.3 per cent.
The cost-to-income ratio for the quarter was 48 per cent, however adjusting for the impact of one-offs, the cost-to-income ratio stands at 45 per cent.
In Q4 FY24, total deposits stood at Rs 1.35 lakh crore as against Rs 1.08 lakh crore in the previous year, a growth of 25 per cent YoY and 15 per cent QoQ.
Current account and savings account (Casa) Deposits stood at Rs 50,151 crore and the Casa Ratio stood at 37.1 per cent.
Casa and retail TD to total deposit ratio stands at over 69 per cent. As of 31 March 2024, the Bank’s capital adequacy ratio stood at 18.3 per cent as against a regulatory requirement of 11 per cent.
The collection efficiency for EEB loans witnessed an improvement to an average of 99 per cent during the quarter ended 31 March 2024.
The bank's Gross Non-Performing Assets (NPA) have improved to 3.8 per cent compared to 7.0 per cent in Q3 FY24 and Net NPA is 1.1 per cent in Q4 FY24 as against 2.2 per cent in Q3 FY24
Provision Coverage Ratio as of 31 March 2024, is 71.8 per cent.
