Bandhan Bank on Thursday reported 99.28 per cent year-on-year (YoY) rise in net profit for the September quarter at Rs 971.79 crore. The bank had posted a profit of Rs 487.65 crore in the quarter ending September 2018.
However, it should be noted that the numbers for this quarter are not comparable to the same quarter last year due to its merger with Gruh Finance.
Net Interest Income (NII) for the quarter grew 41.84 per cent to Rs 1,529 crore as against Rs 1,078 crore in the corresponding quarter of the previous year. Non-interest income grew 56.96 percent to Rs 361 crore for the quarter ended September 2019 against Rs 230 crore from year ago quarter.
GNPA as at the end of Q2FY20 stood at 1.76 per cent against 2.02 per cent in the June quarter and 1.29 per cent in the September quarter last year.
Net NPA was flat at 0.56 per cent against 0.56 per cent at the end of June 2019 and 0.69 per cent as on September 2018.
CASA for the lender grew 38.69 per cent in the September quarter. CASA ratio was at 33.40 per cent against 36.9 per cent year-on-year.
“Our performance this quarter has been good. There has been a strong growth in deposits and advances with record growth in profits. As we step into the second half of the financial year we feel more confident given our current performance. Historically, second half-year has always been better than the first half-year. Having completed the merger in record time, we now look forward to enhancing the Housing Loan business with the expertise of the well experienced team and the well tested model coupled with our large distribution network and customer base,” Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank said.
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