Business News/ Markets / Stock Markets/  Bandhan Bank Q4 result: Net profit decline 57% to 808 cr, dividend declared

Private lender Bandhan Bank on Friday reported 57.5 per cent decline in net profit to 808.3 crore for the quarter ended March 2023. This is against a net profit to 1,902 crore in the corresponding quarter last fiscal.

Meanwhile, its net interest income (NII), which is the difference between interest earned and expended, down 2.7 per cent to Rs2,471.8 crore from 2,540.2 crore year-on-year (YoY).

The board has recommended a dividend of 1.50 a share having face value of Rs. 10 each (i.e. 15 %) for subject to approval of shareholders, said Bandhan Bank in its regulatory filing.

Total income rose a marginal 1per cent on a yearly basis to 4,897 crore. The operating profit for the quarter decreased by nearly 7 per cent sequentially to 1,796 crore.

Net interest margin for the March quarter was 7.3 per cent compared to 6.5 per cent a quarter ago.

The total advances rose 10 per cent as of March end to 1.09 lakh crore, from the year-ago period. Meanwhile, total deposits as of March end were at 1.08 lakh crore, about 12 per cent higher than the year-ago period.

Gross non-performing assets (GNPA) as of March end were 5,299 crore compared to 6,380 crore a year ago. The GNPA ratio was down to 4.9 per cent from 6.5 per cent a year ago.

Net NPAs as of March end stood at 1,228 crore compared to 1,564 crore a year ago. The NNPA ratio was down to 1.2 per cent  from 1.7 per cent a year ago.

For FY23, the lender reported a net profit of 2,195 crore compared to 126 crore a year ago. NII grew by 6.3 per cent to 9,260 crore.

“The bank registered good growth in the fourth quarter with EEB business coming back to normalcy. We are building new capabilities to unlock greater business impact," said Chandra Shekhar Ghosh, MD and CEO

On Friday, the company's shares was down by 2.48 per cent to 237.95 on BSE.

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Updated: 19 May 2023, 10:35 PM IST
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