Bandhan Bank Q4 net profit soars to ₹1,902 crore

BL Mumbai Bureau | Updated on: May 13, 2022

For the full fiscal 2021-22, its net profit, however, fell 94.3 per cent to ₹125.8 crore

Private sector lender Bandhan Bank’s net profit zoomed up to ₹1,902.3 crore for the fourth quarter of the fiscal 2021-22 from ₹103 crore in the same period in the previous fiscal.

For the full fiscal 2021-22, its net profit, however, fell 94.3 per cent to ₹125.8 crore from ₹2,205.5 crore in 2020-21.

For the quarter ended March 31, 2022, net interest income rose 44.6 per cent to ₹2,539.8 crore ( ₹ 1,757 crore). Net interest margin improves to 8.7 per cent for the fourth quarter of last fiscal against 6.8 per cent a year ago.

Non-interest income increased 37.7 per cent year-on-year to ₹964.4 crore in the January to March 2022 quarter.

Provisions fell 99.7 per cent y-o-y to ₹4.7 crore from ₹1,507.7 crore a year ago.

In a statement on Friday, the bank said there is no restructuring done during the fourth quarter of last fiscal.

Gross NPA declined to 6.46 per cent as on March 31, 2022 versus 6.81 per cent as on March 31, 2021. Net NPA also fell to 1.66 per cent as on March 31, 2022 from 3.51 per cent a year ago.

Chandra Shekhar Ghosh, Managing Director and CEO, Bandhan Bank, said: “Bank has seen best-ever quarterly performance during the quarter backed by robust all round operating performance and lower credit costs. Given the strong recovery and stable operating environment we are confident of further improving our performances during next fiscal as well.”

Published on May 13, 2022
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