Bank Bandhan on January 21 recorded Rs 859 Crore’s net profit for the third quarter of the financial year 2021-22, which marked a surge of 35.7 percent year-to-year (yoy) compared to RS 633 Crore profit called in the last fiscal equal quarter.
Net interest income (NII) for the quarter ended December 202 grew by 2.6 percent to Rs 2,124.7 Crore, against Rs 2,071.7 Crore in the period last year.
Non-interest income jumped 26.7 percent to Rs 712.3 Crore compared to Rs 562.3 Crore in the quarter in accordance with the previous year.
Operating profit increased by 1.4 percent yoy to Rs 1,950.1 Crore. Clean (annual) flower margin for Q3 FY22 stood at 7.8 percent compared to 7.6 percent in the September 2021 quarter.
Commenting on financial performance, Bank Bandhan MD and CEO Chandra Shekhar Ghosh said, “We have seen all the recovery of the round during the quarter with increasing collection and increase in disbursement.”
The total lender deposits increased by 18.7 percent YoY to RS 84.499.8 Crore on December 31, 2021, said the bank.
Lenders also noted that the gross non-performance assets (NPA), on December 31, 2021, were at Rs 9,441.6 Crore (10.81 percent) compared to RS 8763.6 Crore (10.82 percent) on the 30th September 2021.
NBAS NET on December 31, 2021, reached Rs 2,413.1 Crore (3.01 percent) compared to RS 2,265.8 Crore (3.04 percent) on September 30, 2021.
“Q4 has historically become the best quarter for banks and we are positive from our advanced business. With a group loan share in total progress reduced to 52 percent, the Bank is on track to achieve a predetermined strategy for FY25.” Ghosh added.
Bank Bandhan, in a press release, also noted that its outlet on December 31, 2021, reached 5,626. This network consists of 1,176 branches, 4,450 banking units that oppose 1,107 branches, and 4,090 banking units as of December 31, 2020.
The total ATM reached 489 on December 31, 2021, against 487 on December 31, 2020. During the quarter, the number of bank employees had risen from 52,976 to 55,341, he added.
On the day when the bank released its quarterly results, its shares lost a value of 1.5 percent on the exchange. Stock closed at Rs 295.50, around Rs 4.4 lower than the closing level of the previous day.
