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Business News/ Markets / Stock Markets/  Bandhan Bank Q1 results: PAT falls by 19% YoY to 721 crore, misses estimates; asset quality improves
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Bandhan Bank Q1 results: PAT falls by 19% YoY to ₹721 crore, misses estimates; asset quality improves

Bandhan Bank's Q1FY24 results show a decline in PAT by 18.66% YoY to ₹721.05 crore and NII at ₹2,490.8 crore. Deposits grew 16.6% YoY at ₹1.08 lakh crore, while loan portfolio grew 6.7% YoY at ₹1.03 lakh crore. GNPA improved to 6.76% and net NPAs stood at 2.18%.

Daily activity at Bandhan Bank, Salt lake Sector 1 Branch Photo by Indranil Bhoumik/mint on 5 october, 2015Premium
Daily activity at Bandhan Bank, Salt lake Sector 1 Branch Photo by Indranil Bhoumik/mint on 5 october, 2015

Bandhan Bank misses estimates for the quarter ending June 30, 2023 (Q1FY24) in terms of bottom-line and net interest income (NII). PAT declined by 18.66% YoY to 721.05 crore. While NII stood at 2,490.8 crore in the quarter under review.

Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank said: “This quarter’s performance indicates that the bank is on a stable growth path.

The Bank has also made significant progress in diversifying its asset book. Our investment in people, Technology, IT & expansion over the last few quarters will surely improve the performance of the bank".

Key Financials for Q1 FY24:

- Deposits grew 16.6% YoY at 1.08 Lakh crore

- Loan portfolio (on book + off book + TLTRO + PTC) grew 6.7% YoY at 1.03 lakh crore

- Total Credit Cost as on June 30, 2023 was 2.4% compared 2.7% as on June 30, 2022.

- CASA deposits at 39,077 crore; CASA ratio at healthy 36%

- GNPA as on June 30, 2023, improved to 6.76% against 7.25% as on June 30, 2022

- Net NPAs as on June 30, 2023, stood at 2.18% against 1.92% as on June 30, 2022

- Net Interest Income at 2491 crore in Q1 FY24 vs 2514 crore in Q1 FY23

- PCR % at 69.2% as on June 30, 2023.

- Capital Adequacy Ratio (CRAR) at 19.8%; Tier I at 18.8%; CRAR (including profit) at 20.5%

- NIM stable QoQ, stands at 7.3%

- ROA & ROE (annualized) for Q1 FY24 stands at 1.9% and 14.4%, respectively

Bank has added nearly 7 lakh customers in the current quarter and the total number of customers stands at 3.07 crore. Banking outlets as on June 30, 2023, stood at 6,140. The network consists of 1,542 branches, and 4,598 banking units. During the quarter, the number of employees of the bank has gone above 72,000.

On BSE, Bandhan Bank shares closed at 221.75 apiece, up by 2.71%.

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Published: 14 Jul 2023, 03:57 PM IST
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