Bandhan Bank suffers Rs 3,008 cr Q2 loss on higher stressed loan provisions

Lender had posted a net profit of Rs 920 crore in the second quarter ended September 2020

Private lender Bandhan Bank has suffered a loss of Rs 3,008.6 crore in the second quarter ended September 2021 (Q2FY22) on huge provisions of over Rs 4,600 crore for the bad loans and restructured advances.

It had posted a net profit of Rs 920 crore in the second quarter ended September 2020 (Q2FY22). Sequentially, its net profit was at Rs 373.1 crore in June 2021 quarter (Q1FY22).

The Kolkata-based lender said in a statement that it made an accelerated provision on NPA accounts of Rs 1,500 during the quarter, resulting in a Provision Coverage Ratio of 74 per cent in