Home / Companies / Company Results /  Bandhan Bank Q3 result: Profit falls 14% at 633 crore

NEW DELHI : 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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