Bandhan Bank surged 11.04% to Rs 213.70 after the bank's net profit surged 47.48% to Rs 1,063.46 crore in Q1 FY25 as compared to Rs 721.05 crore recorded in Q1 FY24.
Total income grew by 23.53% to Rs 6,063.35 crore in the first quarter of FY25 from Rs 4,908.02 crore posted in Q1 FY24.Operating profit jumped 24.26% to Rs 1,941 crore in Q1 FY25 as against Rs 1,562 crore posted in Q1 FY24.
Net interest income (NII) grew by 20.63% year on year (YoY) to Rs 3,005 crore in Q1 FY25. Net interest margin (NIM) improved to 7.6% in Q1 FY25 as compared to 7.3% reported in Q1 FY24.
The provisions (other than tax) & contingencies stood at Rs 523 crore in Q1 FY25, registering de-growth of 13.12% YoY as compared to Rs 602 crore in Q1 FY24.
As of June 30, 2024, total deposits stood at Rs 1.33 lakh crore as against Rs 1.08 lakh crore in the previous year, registering a growth of 23% YoY.
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The cost-to-income ratio was at 45% in Q1 FY25. During Q1 FY25, total deposits stood at Rs 1.33 lakh crore, growing by 23% YoY. CASA deposits stood at Rs 44,456 crore and CASA Ratio stood at 33.4%.
As of June 30, 2024, Gross Advances stood at Rs.1.26 lakh crore, up 20% as against Rs.1.03 lakh crore in the same quarter previous year.
On a YoY basis, retail book (other than housing) grew 83%, commercial banking grew 30%, emerging entrepreneurs business (EEB) grew 22% and the housing book (excluding IBPC) showed a growth of 13%
On the asset quality front, the bank's gross non-performing assets (NPAs) was at Rs 5,304.36 crore in Q1 FY25, registering de-growth of 23.79% from Rs 6,960.40 crore reported in in Q1 FY24.
The collection efficiency for EEB loans was stable at 98.7% for the quarter ended June 30, 2024
The ratio of gross NPAs to gross advance was at 4.23% as on 30 June 2024 as compared to 6.76% as on 30 June 2023. Net NPAs to net advances declined to 1.15% as on 30 June 2024 as against 2.18% as on 30 June 2023. The provision coverage ratio as of 30 June 2024 was at 73.7%.
As of 30 June 2024, the Banks capital adequacy ratio stood at 14.97% as against a regulatory requirement of 11.5%.
The banks distribution network spans nearly 6,300 outlets. It added 8 lakh customers, during the quarter.
Ratan Kumar Kesh, MD & CEO of Bandhan Bank, said, During the first quarter of the year, the bank has achieved remarkable growth across key metrics. Our robust performance reflects our team's resilience and strategic agility amid challenging market conditions. Bandhan Bank's foundation is built on the trust of its customers and the unwavering commitment of its employees. These cornerstones, along with a focus on technology, process, product and people will not only sustain our growth momentum but also pave the way for even stronger performance in the future."
Bandhan Bank operates as a commercial bank. The Banks distribution network spans nearly 6,300 outlets. The Bank added 8 lakh customers, during the quarter and current customers stand at 3.44 crore customers. The Bank currently has more than 77,500 employees.
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