Bandhan Bank's Q3 net profit down 13.5% on higher Covid provisioning

The lender has made provisioning to the tune of Rs 1,068 crore in Q3FY21, of which Rs 1,000 crore is covid-related

Kolkata-based private sector lender Bandhan Bank’s net profit dropped 13.5 per cent to Rs 632.6 crore for the quarter ended December(Q3), compared to Rs 731 crore in the corresponding period a year ago due to rise in covid provisions. Sequentially, net profit declined by 31 per cent.

Net interest income (NII) of the lender grew at a robust pace of 34.5 per cent year-on-year to Rs 2,071.7 crore in Q3FY21, compared to Rs 1,540 crore. The non-interest income saw a 55 per cent growth to Rs 553 crore, taking the total income of the lender to Rs 2,625 crore in