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The Kolkata-headquartered Bandhan Bank has reported a 47.51 per cent jump in net profit at Rs 482 crore for the first quarter ended June 2018, against Rs 327 crore in the April-June quarter of 2017-18.
As per a regulatory filing, the total income stood at Rs 1,766.8 crore in the first three months of 2018-19, against Rs 1,275.3 crore in the year-ago period.
Gross non-performing assets (NPAs) increased to 1.26 per cent of gross advances in the quarter under review compared with 0.93 per cent in the comparable period of last fiscal. Net NPAs too increased to 0.64 pr cent or Rs 194.2 crore from 0.56 per cent in the year-ago period.
“Net interest income (NII) for the quarter grew 39.5 per cent to Rs 1,037crore from Rs 743 crore in the corresponding quarter of the previous year,” the bank said.
Commenting on the performance, Bandhan Bank MD and CEO, Chandra Shekhar Ghosh, said the beginning of fiscal 2018-19 has been promising with advances growing Y-o-Y by 52 per cent, “overcoming the seasonality, which we normally witness during the first quarter’’.
Total deposits grew 36.83 per cent to Rs 30,703 crore as on June 30, 2018 against Rs 22,439 crore as on June 30, 2017. Bandhan Bank shares were trading higher by 4.12 per cent at Rs 585.15 on the BSE.
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