Bandhan Bank profit rises 45%; seeks to open 187 branches this year

Bandhan Bank's board has approved opening 187 more branches and 340 doorstep service centres this year

On the back of growth in the microfinance business, Bandhan Bank today reported a 45.44 per cent rise in net profit at Rs 701 crore in Q1FY20, against Rs 482 crore in the same period of the last financial year. 

The total loan book of the bank, which stood at about Rs 45,420 crore at the end of last quarter, grew 39.36 per cent. About 86 per cent of the loan book consists of microloans, said C S Ghosh, managing director and chief executive of Bandhan Bank.

Net Interest Margin (NIM) for the quarter ended June 30, 2019, stood at