Bandhan Bank on Friday posted its third quarter profit for the financial year 2023-24 at Rs 732.72 crore, up 152.2 per cent in comparison to Rs 290.57 crore during the same quarter last year. It posted total income at Rs 5210.60 crore, up 7.6 per cent as against Rs 4840.94 in the corresponding quarter of previous year. The Net Interest Income (NII) recorded a growth of 21 per cent on-year to Rs 2525 crore in Q3FY24 vs Rs 2081 crore in Q3FY23. The NIM stood at 7.2 per cent in Q3FY24 as against 6.5 per cent in the same quarter last year.
Loan portfolio was at Rs 1.16 lakh crore, up 18.6 per cent on-year. In the loan portfolio, retail loan books other than housing finance books grew by 70 per cent YoY, commercial banking book grew by 60 per cent YoY, housing finance book grew more than 6 per cent YoY, and EEB book has shown a growth of 10 per cent YoY.
Total deposits, it said, stood at Rs 1.17 lakh crore, up 14.8 per cent YoY, better than the industry average growth. While CASA deposits are at Rs 42,413 crore, CASA ratio stood at 36.1 per cent in Q3FY24.
Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank, said, “The growth in this quarter across various segments of business is very encouraging. The bank has demonstrated stability across various key performance indicators despite a tough operating environment. With the recent CBS migration and the new talent in the Bank’s leadership, I am confident that we will continue the growth momentum. Looking ahead, we stand poised for growth, leveraging our robust foundation to seize emerging opportunities and continue serving the nation’s population with services that they truly deserve.”
Bandhan Bank said that it has added nearly 9 lakh customers in the current quarter and the total number of customers stands at 3.26 crore. Further, total banking outlets stood at more than 6,250. During the quarter, the number of employees of the bank has gone above 75,000.