Bandhan Bank today reported a net profit of Rs 482 crore in the first quarter ending June 2018, registering a jump of 47.51 per cent.
Bandhan Bank today reported a net profit of Rs 482 crore in the first quarter ending June 2018, registering a jump of 47.51 per cent. The bank had posted a net profit of Rs 327 crore in the April-June quarter of 2017-18. As per a regulatory filing of the bank, its total income was Rs 1,766.8 crore in the first three months of 2018-19, up from Rs 1,275.3 crore in the year ago period. Bank’s Gross Non-Performing Asset (NPA) increased to 1.26 per cent of gross advances in the quarter under review compared to 0.93 per cent in the comparable period of the last fiscal.
The net NPA too increased to 0.64 pr cent or Rs 194.2 crore from 0.56 per cent in the year-ago period. “Net Interest Income (NII) for the quarter grew by 39.5 per cent at Rs 1,037crore as against Rs 743 crore in the corresponding quarter of the previous year,” the bank said.
Commenting on the performance, MD and CEO of the bank Chandra Shekhar Ghosh said, the start of fiscal 2018-19 has been promising with advances growing Y-o-Y by 52 per cent, “overcoming the seasonality, which we normally witness during the first quarter”.
Kolkata headquartered bank further said its total deposits grew by 36.83 per cent as on June 30, 2018 at Rs 30,703 crore. This compares with Rs 22,439 crore as on June 30, 2017. The bank’s shares were trading at Rs 580.25 apiece on BSE at around 1.15 PM, up 3.25 per cent.