Bandhan Bank slips 4% post Q1 nos; PAT up 45% to Rs 701 cr, NII grows 37%

Gross NPAs as on June 30, 2019 stood at 2.02 per cent against 2.04 per cent as on March 31, 2019 while Net NPAs stood at 0.56 per cent against 0.58 per cent in the previous quarter.

Shares of Bandhan Bank slipped nearly 4 per cent in the intra-day trade on Friday after declaring June quarter results for the financial year 2019-20 (FY20). The lender posted a 45.44 per cent year-on-year (YoY) jump in PAT (profit after tax) or net profit at Rs 701 crore. It had logged PAT of Rs 482 crore in the year-ago period. In the previous quarter, the numbers stood at Rs 651 crore. 

Total income during the quarter under review increased 38.06 per cent YoY and 4.68 per cent QoQ to Rs 1,723 crore while operating profit surged 47.14 per cent YoY and 4.68 per cent QoQ to Rs 1,208 crore. 

Net Interest Income (NII) for the quarter grew by 36.07 per cent to Rs 1,411 crore as against Rs 1,037 crore in the corresponding quarter of the previous year. Net Interest Margin (NIM) for the quarter ending June 30, 2019 stood at 10.45 per cent against 10.27 per cent in the corresponding quarter of the previous year

"The year 2019-20 has started on a promising note with asset growth at 39.36% along with stable asset quality. During the year we expect the Gruh merger to get consummated which will bring diversification and will add to growth," said Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank. 

The bank's provision (other than taxes), however, jumped 56.25 per cent YoY to Rs 125 crore but declined around 19 per cent sequentially. Gross NPAs (non-performing assets) as on June 30, 2019 stood at 2.02 per cent against 2.04 per cent as on March 31, 2019 while Net NPAs stood at 0.56 per cent against 0.58 per cent as on March 31, 2019. 

Current Account Savings Account (CASA) ratio came in at 36.06 per cent of total deposit, compared to 35.46 per cent in the corresponding period last year while Total Advances (on book + off book) grew by 39.36 per cent to Rs 45,420 crore as on June 30, 2019 against Rs 32,590 crore as on June 30, 2018. Total Deposits increased by 42.33 per cent to Rs 43,701 crore as on June 30, 2019 as compared to Rs 30,703 crore as on June 30, 2018, it said in its press release. 

At 02:10 pm, shares of the bank were trading nearly 3 per cent lower at Rs 514 apiece against 506 points or 1.30 per cent decline in the benchmark S&P BSE Sensex.