Bandhan Bank Q3 result: Profit falls 14% at ₹633 crore
Total income during the period under review rose 38.3% to ₹2,625 crore from ₹1,898 crore in the same period of 2019-20, Bandhan Bank said
Bandhan Bank on Thursday reported 13.5% decline in net profit at ₹632.6 crore for the third quarter ended December 31, 2020.
The bank had posted a net profit of ₹731 crore for the same period of the previous fiscal year.
Total income during the period under review rose 38.3% to ₹2,625 crore from ₹1,898 crore in the same period of 2019-20, Bandhan Bank said in a press release.
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"During the quarter the bank has taken accelerated additional provision on standard advances amounting to ₹1,000 crore. With this provision and additional standard assets provision that bank is carrying in micro banking portfolio total additional provision in books stands at ₹3,119 crore," the bank said.
On asset front, gross NPAs as on December 31, 2020 stood at ₹859.2 crore (1.1% of gross advances) against ₹1,182 crore (1.9%) by the year-ago same period.
Net NPAs were at ₹201.3 crore (0.3%) against ₹491.4 crore (0.8%).
Bandhan Bank stock was trading at ₹345.10 on BSE, down 4.10% from the previous close.
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First Published:21 Jan 2021, 04:05 PM IST
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