 "Bandhan Bank Q1 FY24 results: Net profit declines 19% to Rs 721 crore")
Bandhan Bank on Friday reported an 18.7 per cent fall in net profit at Rs 721 crore in the June quarter due to a decline in net interest income.
The Kolkata-based private sector lender had posted a net profit of Rs 887 crore in the year-ago period.
Total income during the quarter under review increased to Rs 4,908 crore from Rs 4,385 crore in FY2023, Bandhan Bank said in a regulatory filing.
Interest earned by the bank grew to Rs 4,523 crore over Rs 4,055 crore in the June quarter a year ago.
Net Interest Income of the bank declined to Rs 2,491 crore in Q1 FY24 as compared to Rs 2,514 crore in the same quarter a year ago.
The bank's asset quality showed improvement as gross Non-Performing Assets (NPAs) declined to 6.76 per cent of gross advances by the end of June 2023, from 7.25 per cent as of June 2022.
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However, net NPAs or bad loans rose to 2.18 per cent as against 1.92 per cent a year ago.
Capital Adequacy Ratio of the bank improved to 19.75 per cent from 19.44 per cent in the same quarter of FY23.