Bandhan Bank Reports Net Profit Of Rs 1,063 Cr, Jumps By 47%

Bandhan Bank on Friday said its net profit increased by 47 per cent on a year-on-year basis to Rs 1,063 crore from Rs 721 crore last year. By the end of June 2024, the bank's total deposits had grown by 23 per cent YoY to Rs 1.33 lakh crore. 

According to the bank, current account and savings account (CASA) expanded by 14 per cent YoY sequentially. Growth was hampered by the previous quarter's fall in the short-term CA balance. The CASA ratio is at 33.4 per cent.

The total advances grew 22 per cent YoY in the quarter ending June 2024 and stood at Rs 1.26 lakh crore. As of Q1 FY25, net interest income (NII) increased by 21 per cent to Rs 3,005 crore from Rs 2,491 crore the previous year. In comparison to 73 per cent the previous year, the net interest margin (NIM) for the quarter was 7.6 per cent.

With a gross non-performing asset ratio of 4.23 per cent, down from 6.76 per cent the previous year, the institution reported stable asset quality. The net NPA ratio was 1.15 per cent as opposed to 2.18 per cent the previous year.