Bandhan Bank Q2 profit surges 47% YoY to Rs 488 crore; asset quality stable

NEW DELHI: Private lender Bandhan Bank on Wednesday reported 47.4 per cent YoY rise in profit at Rs 488 crore for the quarter ended September 30, according to ET NOW.

The Kolkata-based lender had reported Rs 331 crore profit in the corresponding quarter last year.

Net interest margin (NIM) for the quarter came in at 10.30 per cent compared with 9.3 per cent in the year-ago quarter.


Net interest income (NII) for the quarter rose 55.60 per cent YoY to Rs 1,080 crore.

Gross non-performing assets remained largely stable at 1.29 per cent for the quarter compared with 1.26 per cent in the June quarter.

The bank said it had 1.44 crore customers at the end of September quarter. The company added 7.7 lakh new customers in the second quarter.

Micro credit loans stood at 87 per cent of total loan book as of September 30; the rest is non-micro credit book.

The bank said it is committed to maintain compliance as per RBI norms, adding that it has three options to bring down NOFHC stake to meet minimum public holding norms.

Following the earnings, the scrip jumped 7.52 per cent to hit a high of Rs 521.40.