Bandhan Bank Net Profit grows 35.7% (Y-o-Y) in Q3 FY22 to INR 859.0 crore from INR 632.6 crore in Q3 FY21

Bandhan Bank 1

Highlights for the Quarter ended December 31, 2021:

· Net Interest Income (NII) for the quarter grew by 2.6% to ₹2,124.7 crore as against ₹2,071.7 crore in the corresponding quarter of the previous year.

· Non-interest income grew by 26.7% to ₹712.3 crore for the quarter ended December 31, 2021 against ₹562.3 crore in the corresponding quarter of the previous year.

· Operating Profit for the quarter increased by 1.4% to ₹1,950.1 crore against ₹1,923.1 crore in the corresponding quarter of the previous year.

· Net Interest Margin (annualised) for the quarter ended December 31, 2021 stood at 7.8% against 7.6% in September 30, 2021.

· Total Advances (on book + off book + TLTRO + PTC) grew by 9.6% to ₹87,997.7 crore as on December 31, 2021 against ₹80,255.2 crore as on December 31, 2020.

· Total Deposits increased by 18.7% to ₹84,499.8 crore as on December 31, 2021 as compared to ₹71,188.3 crore as on December 31, 2020.

· Gross NPAs as on December 31, 2021 is at ₹9,441.6 crore (10.81%) against ₹8763.6 crore (10.82%) as on September 30, 2021.

· Net NPAs as on December 31, 2021 stood at ₹2,413.1 crore (3.01%) against ₹2,265.8 crore (3.04%) as on September 30, 2021.

Commenting on the performance, Mr. Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank said: “We have seen all round recovery during the quarter with improved collection and increase in disbursement. Q4 historically has been the best quarter for the Bank and we are positive of our business going forward. With Group loan share in total advances reduced to 52%, Bank is on track to achieve the diversification strategy which it had laid down for FY 25”

Banking outlets as on December 31, 2021, stood at 5,626. The network consists of 1,176 branches, 4,450 banking units as against 1,107 branches and 4,090 banking units as on December 31, 2020. Total number of ATMs stood at 489 as on December 31, 2021 against 487 as on December 31, 2020. During the quarter, the number of employees of the bank has gone up from 52,976 to 55,341.