Bandhan Bank rises after Q3 PAT jumps 35% YoY

Bandhan Bank gained 2.27% to Rs 301.75 in a weak market after the microfinance bank reported a 35.8% rise in standalone net profit to Rs 858.97 crore on a 6.5% rise in total income to Rs 4,120.95 crore in Q3 FY22 over Q3 FY21.

Profit before tax rose 35.4% to Rs 1,144 crore in Q3 FY22 over Q3 FY21. Operating profit before provisions and contingencies rose 1.4% to Rs 1950.14 crore in Q3 FY22 as compared to Rs 1,923.18 crore in Q3 FY21.

Net Interest Income (NII) for the quarter grew by 2.6% to Rs 2,124.7 crore as against Rs 2,071.7 crore in the corresponding quarter of the previous year. Net interest margin (annualised) for the quarter ended 31 December 2021 stood at 7.8% as against 7.6% in Q2 FY22.

Gross NPAs as on 31 December 2021 is at Rs 9,441.6 crore (10.81%) against Rs 8763.6 crore (10.82%) as on 30 September 2021. Net NPAs as on 31 December 2021 stood at Rs 2,413.1 crore (3.01%) against Rs 2,265.8 crore (3.04%) as on 30 September 2021.

Commenting on the performance, Chandra Shekhar Ghosh, MD and CEO of Bandhan Bank said, We have seen all round recovery during the quarter with improved collection and increase in disbursement. Q4 historically has been the best quarter for the Bank and we are positive of our business going forward. With Group loan share in total advances reduced to 52%, Bank is on track to achieve the diversification strategy which it had laid down for FY 25.

Total advances grew by 9.6% to Rs 87,997.7 crore as on 31 December 2021 against Rs 80,255.2 crore as on 31 December 2020. Total deposits increased by 18.7% to Rs 84,499.8 crore as on 31 December 2021 as compared to Rs 71,188.3 crore as on 31 December 2020. Meanwhile, the bank's loan portfolio (on book + off book + TLTRO + PTC) grew 9.6% year on year to Rs 84,500 crore.

Meanwhile, the BSE Sensex was down 776.57 or 1.32% to 58,260.

Bandhan Bank operates as a commercial bank. The bank's outlets as on 30 September 2021, stood at 5,618. The network consists of 1,168 branches, 4,450 banking units. Total number of ATMs stood at 487.

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