Q1 FY'23: Bandhan Bank Net Profit jumps 138% to Rs 886.5 cr

New Delhi: Bandhan Bank Limited today, July 22, 2022, at its board meeting has approved the Unaudited Financial Results of the Bank for the quarter (Q1) ended June 30, 2022.

Highlights for the Quarter ended June 30, 2022

• Net Interest Income (NII) for the quarter grew by 18.9% to Rs. 2,514.4 crore as against Rs 2,114.0 crore in the corresponding quarter of the previous year.
• Total Advances (on book + off book + TLTRO + PTC) grew by 20.3% to Rs 96,649.7 crore as on June 30, 2022 against Rs  80,356.9 crore as on June 30, 2021
• Total Deposits increased by 20.3% to Rs 93,057.0 crore as on June 30, 2022 as compared to Rs 77,335.5 crore as on June 30, 2021.
• Gross NPAs as on June 30, 2022 is at Rs 6,967.6 crore (7.3%) against Rs 6,380.0 crore (6.5%) as on March 31, 2022 and against Rs 6,440.4 crore (8.2%) as on June 30, 2021.

Commenting on the performance, Mr. Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank said: “With Asset Quality and Credit Cost stabilizing, our focus in FY 23 will be to grow the Balance Sheet and focus on product and geographic diversification as per Bank’s strategy.” Banking outlets as on June 30, 2022, stood at 5,640.

The network consists of 1,190 branches, 4,450 banking units as against 1,152 branches and 4,422 banking units as on June 30, 2021. The total number of ATMs stood at 429 as on June 30, 2022, against 487 as on June 30, 2021. During the quarter, the number of employees of the bank has gone up from 60,211 to 61,247.

During the quarter ended June 30, 2022, the Bank has allotted 20,404 Equity Shares of Rs 10/- each In respect of stock option exercised aggregating to Rs. 36.73 lakhs, Accordingly, share capital Increased by Rs 2.04 lakhs and share premium Increased by Rs. 34.69 lakhs respectively.