Bandhan Bank Net Profit jumps 1747% to Rs 1902.3 cr for Q4 FY22

The Bank's Net Interest Income (NII) for the quarter grew by 44.6% to Rs. 2,539.8 crore as against Rs. 1,757.0 crore in the corresponding quarter of the previous year.

Bandhan Bank Net Profit jumps 1747% to Rs 1902.3 cr for Q4 FY22
Bandhan Bank Net Profit jumps 1747% to Rs 1902.3 cr for Q4 FY22/Reuters Image

New Delhi: Bandhan Bank reported an increase in the net profit by 1747 % to Rs. 1902.3 crore in Q4 FY22, From Rs 103.0 crore in Q4 FY21; GNPA reduced to 6.5%, and NNPA reduced to 1.7%.

The Bank's Net Interest Income (NII) for the quarter grew by 44.6% to Rs. 2,539.8 crore as against Rs. 1,757.0 crore in the corresponding quarter of the previous year.

Non-interest income grew by 37.7% to Rs. 964.4 crore for the quarter ended March 31, 2022, against Rs. 700.4 crore in the corresponding quarter of the previous year.

The Operating Profit for the quarter increased by 53.5% to Rs. 2,521.3 crore against Rs. 1,642.8 crore in the corresponding quarter of the previous year.

Commenting on the performance, Mr. Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank said: “Bank has seen best-ever quarterly performance during the quarter backed by robust all-round operating performance and lower credit costs. Given the strong recovery and stable operating environment we are confident of further improving our performances during next fiscal as well” Banking outlets as on March 31, 2022, stood at 5,639.

The network consists of 1,189 branches, 4,450 banking units as against 1,147 branches, and 4,163 banking units as on March 31, 2021. The total number of ATMs stood at 471 as on March 31, 2022, against 487 as on March 31, 2021. During the quarter, the number of employees of the bank has gone up from 55,341 to 60,211.

Further, the Board of Directors has not recommended any dividend for the Financial Year ended March 31, 2022.