Bandhan Bank reports highest ever quarterly PPoP in Q1 FY22, grows 18.1% YoY

Kolkata: The Board of Directors of Bandhan Bank Ltd., at a meeting held in Kolkata today approved its Financial Results for the Quarter ended June 30, 2021. The accounts have been subjected to “Limited Review” by the statutory auditors of the bank.

Key Highlights :

1. PPoP to Loan Book at 9.3%; up from 8.6% in the Q4FY21
2. NIM increased to 8.5%
3. Deposits grew 27.6% YoY.
4. Loan portfolio (on book + off book + TLTRO + PTC) grew 8.1% YoY
5. CASA grew 47.7% YoY; CASA ratio at 42.9% against 37.1% YoY.
6. GNPA as on June 30, 2021 at 8.2% against 6.8% as on March 31, 2021.
7. Net NPAs as on June 30, 2021 at 3.3% against 3.5% as on March 31, 2021.
8. Capital Adequacy Ratio (CRAR) at 24.8%; Tier I at 23.8%. CRAR (including profit) at 25.3%
9. During Q1FY21-22, restructured EEB Portfolio worth of Rs. 40.57 bn and Housing portfolio worth of Rs. 6.04 bn totaling to Rs. 46.61 bn
10. Bank have made accelerated provision on NPA accounts of Rs. 7.51bn resulting in PCR of 62% as against 50% in Q4FY21. In addition to this Bank also carrying additional standard assets provision amounting to Rs. 3.23 bn and provision on restructured assets amounting to Rs. 5.29 bn

 

Highlights for the Quarter ended June 30, 2021:

1. Net Interest Income (NII) for the quarter grew by 16.7% to Rs. 2,114.1 crore as against Rs. 1,811.5 crore in the corresponding quarter of the previous year.
2. Non-interest income grew by 37.7% to Rs. 533.4 crore for the quarter ended June 30, 2021 against Rs. 386.8 crore in the corresponding quarter of the previous year.
3. Operating Profit for the quarter increased by 18.1% to Rs. 1,871.1 crore against Rs. 1,584.2 crore in the corresponding quarter of the previous year.
4. Net Interest Margin (annualised) for the quarter ended June 30, 2021 stood at 8.5% against 8.2% in June 30, 2020.
5. Total Advances (on book + off book + TLTRO + PTC) grew by 8.1% to ?80,356.9 crore as on June 30, 2021 against Rs. 74,330.5 crore as on June 30, 2020
6. Total Deposits increased by 27.6% to Rs. 77,335.5 crore as on June 30, 2021 as compared to Rs. 60,610.0 crore as on June 30, 2020.
7. Gross NPAs as on June 30, 2021 is at Rs. 6,440.4 crore (8.2%) against ?5757.8 crore (6.8%) as on March 31, 2021.
8. Net NPAs as on June 30, 2021 stood at Rs. 2,457.9 crore (3.3%) against ? 2,861.0 crore (3.5%) as on March 31, 2021.

 

Commenting on the performance, Mr. Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank said: “In spite of challenging environment due to covid second wave, we have delivered the best ever quarter in terms of operational performances. Collections continues to improve with covid restrictions getting relaxed.

 

Typically, the second half of the financial year is always better for the bank in terms of growth and collections. With easing of the covid second wave and upcoming festive season, we are confident of achieving better performance going forward.”

 

Banking outlets as on June 30 2021, stood at 5,574. The network consists of 1,152 branches, 4,422 banking units as against 1,018 branches and 3,541 banking units as on June 30, 2020. Total number of ATMs stood at 487 as on June 30, 2021 against 485 as on June 31, 2020. During the quarter, the number of employees of the bank has gone up from 49,445 to 51,054.

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