Bandhan Bank Net Interest Income Drops To ₹2491 Crore In Q1 FY24

The Board of Directors of Bandhan Bank Ltd., at a meeting held in Kolkata today approved its Financial Results for the Quarter ended June 30, 2023. The accounts have been subjected to “Limited Review” by the statutory auditors of the bank, the company announced through an exchange filing.

Key Financials for Q1 FY24:

Deposits grew 16.6% YoY at ₹ 1.08 Lakh crore

Loan portfolio (on book + off book + TLTRO + PTC) grew 6.7% YoY at ₹1.03 lakh crore

Total Credit Cost as on June 30, 2023 was 2.4% compared 2.7% as on June 30, 2022.

CASA deposits at ₹39,077 crore; CASA ratio at healthy 36%

GNPA as on June 30, 2023, improved to 6.76% against 7.25% as on June 30, 2022

Net NPAs as on June 30, 2023, stood at 2.18% against 1.92% as on June 30, 2022

Net Interest Income at ₹2491 crore in Q1 FY24 vs ₹2514 crore in Q1 FY23

PCR % at 69.2% as on June 30, 2023.

Capital Adequacy Ratio (CRAR) at 19.8%; Tier I at 18.8%; CRAR (including profit) at 20.5%

NIM stable QoQ, stands at 7.3%

ROA & ROE (annualized) for Q1 FY24 stands at 1.9% and 14.4%, respectively.

Highlights for the Quarter ended June 30, 2023:

The Commercial Banking book grew by 78% YoY

Retail Loan books other than housing finance book grew by 86.5%

Housing Finance Book grew by 9.5%

Our collection efficiency for the EEB book stands at 98%, However, Assam & WB collection efficiency is at 99%

In line with our diversification agenda, banks’ presence outside of the East region is more than 50%

“This quarter’s performance indicates that the bank is on a stable growth path. The Bank has also made significant progress in diversifying its asset book. Our investment in people, Technology, IT & expansion over the last few quarters will surely improve the performance of the bank," said Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank.

Bank has added nearly 7 lakh customers in the current quarter and the total number of customers stands at 3.07 crore. Banking outlets as on June 30, 2023, stood at 6,140. The network consists of 1,542 branches, and 4,598 banking units. During the quarter, the number of employees of the bank has gone above 72,000.

Published on: Friday, July 14, 2023, 04:02 PM IST