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Kolkata-based Bandhan Bank has reported an over 18 per cent rise in net profit for the September quarter to ₹331 crore. The lender’s net profit was ₹280 crore in the year ago period.
The bank’s net interest income saw a 22 per cent increase year-on-year, to ₹694 crore.
Operating profit for Q2 FY18 saw a 28 per cent jump to ₹ 596 crore.
Current account savings (CASA) account of total deposits stood at 28.18 per cent, said Bandhan Bank in a statement.
Total advances (including IBPCs and assignment of the portfolio) stood at ₹22,111 crore, while deposits stood at ₹25,442 crore.
During the quarter, the bank’s net interest margin (NIM) dipped to 9.33 per cent from 10.17 per cent in the corresponding quarter of the previous year. The dip is because it has been striving to pare its loan rates, said the bank.
However, Bandhan saw its NPAs rise during the quarter. Gross NPAs rose to 1.26 per cent in Q2 FY18; while net NPAs stood at 0.67 per cent.
The capital adequacy ratio of the bank as on September 30 stood at 26.25 per cent.
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