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The board of directors of Bandhan Bank will meet today (May 19) to consider and approve the audited financial results for Q4 FY23 as well as the complete FY23. The board will also consider recommending dividend for the said financial year, if any, the bank said in a notification to the BSE.
Bandhan Bank’s MD and CEO Chandra Shekhar Ghosh will brief the media later during the day to inform about the bank’s performance during the quarter ended March 31.
The bank’s net profit dropped nearly 66 per cent to ₹291 crore in the third quarter ended December 31, 2022, against ₹859 crore during the same period previous year on account of higher provisioning. Provisions during the said quarter had increased by over 91 per cent to ₹1542 crore (₹806 crore).
Also read: GNFC standalone Q4 net down 48 per cent
With most of the distressed accounts on the restructured loan book are out of the system, lower slippages and and better yields on advances are likely to result in better profitability and margins in Q4 FY23 and the subsequent quarters, per the bank.
The bank’s board had recently appointed Ratan Kumar Kesh as Executive Director for a three-year period.
The bank’s scrip opened at ₹243.85, down by 0.06 per cent, on the BSE on Thursday.
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