Bandhan Bank Q4 results: Net profit falls 57.5% to Rs 808 crore

Bandhan Bank, on Friday, posted a consolidated net profit of Rs 808 crore for the March quarter. This is 57.51 per cent fall from Rs 1,902 crore a year ago, the company statement said.

In a regulatory filing, the bank said, “Net interest income (NII) for the quarter grew by 18.8 per cent to Rs 2,472 crore as against Rs 2,080 crore in Q3 FY23.”

Non-interest income declined by 39 per cent to Rs 629 crore for the quarter ended March 31, 2023 against Rs 1,033 crore in Q3 FY23. Other income in Q3FY23 includes Rs 414 crore of income on sale of technical write-off portfolio to ARC.

The bank’s operating profit for the quarter decreased by 6.6% to Rs 1,796 crore against Rs 1,922 crore in Q3 FY23.

“Net Interest Margin (annualised) for the quarter ended March 31, 2023 stood at 7.3 per cent against 6.5 per cent in quarter ended December 31, 2022,” the bank said in BSE filing.

“The Bank registered good growth in the fourth quarter with EEB business coming back to normalcy. We are building new capabilities to unlock greater business impact. Our new business streams such as Commercial Vehicle Lending, Loans against Property for Business, Government Business Operations, among others, will add to the top line as well as the bottom line over the next few quarters,” said Chandra Shekhar Ghosh, MD & CEO.

“We have been fortunate to earn the trust of more than 3 crore Indians and we will endeavor to continue to be their trusted partner in their journey to achieve their dreams,” he added.