Bandhan Bank reports 31.6% decline in net profit to Rs 550 cr in Apr-June

Bandhan Bank on Wednesday reported a 31.6-per cent on-year decline in net profit to Rs 550 crore during the April-June quarter.

The lender's bottomline in the corresponding period a year ago was Rs 804 crore.

A Bandhan Bank statement said it has taken accelerated additional provision on standard assets amounting to Rs 750 crore, due to the Covid-19 pandemic.

Operating profit during the quarter grew by 16.8 per cent to Rs 1,584 crore as against Rs 1,356 crore a year ago.

The lender's deposits grew by 6.18 per cent quarter- on-quarter, the statement added.