Bandhan Bank Q1 profit rises 45.5%, beats estimates

Private sector lender Bandhan Bank on Friday reported a 45.55% year-on-year rise in net profit at Rs.701.14 crore for the quarter ended 30 June, on the back of higher net interest income and other income.

It had posted a net profit of Rs.481.71 crore in the corresponding quarter last year. It was higher than Rs.622.7 crore estimated by a Bloomberg poll of five analysts.

Net interest income (Nll) for the quarter increased 35.98% to Rs.1,410.38 crore, against Rs.1,037.17 crore in the same quarter last year.

Other income grew 48.18% to Rs.312.21 crore during the quarter, from Rs.210.69 crore a year ago.

Percentage of gross non-performing assets (NPAs) climbed to 2.02% in Q1 from 2.04% on a quarter-on-quarter basis. Percentage of net NPAs stood at 0.56%, against 0.64% during the same period.

Provisions and contingencies rose 56.70% year-on-year to Rs.125.40 crore during the first quarter, from Rs.80.03 crore in the corresponding period last year.

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Bandhan Bank reports 68% jump in Q4 net profit

Bandhan Bank Ltd on Thursday reported a 67.8% increase in its March quarter net profit due to higher net interest and non-interest income. Net profit for the quarter stood at ₹651 crore, beating the Street's estimates, up 67.78% from ₹388 crore a year ago. Analysts expected the lender to report a net profit of ₹546.30 crore, according to a Bloomberg poll of eight analysts.

Net interest income (NII), or the core income a bank earns by giving loans, was up 45.60% to₹1,258 crore versus ₹864 crore last year. Non-interest income was at ₹388 crore, up 91.13% from ₹203 crore a year ago.

Provisions and contingencies surged 41.28% to₹199.97 crore in the quarter from ₹112.86 crore a year ago.

As a percentage of total loans, gross NPAs stood at 2.04% as compared to 2.41% in the previous quarter and 1.25% in the same quarter a year ago. Net NPAs were at 0.58% in the March quarter compared to 0.70% in the previous quarter and 0.58% in the same quarter last year.

Deposits rose 27.64% to ₹43,232 crore while advances increased 38.46% to ₹44,776 crore.

"The year 2018-19 has been a challenging year for the banking industry. We closed the financial year on a positive note with visibility of growth and improvement in asset quality and liability profile," said Chandra Shekhar Ghosh managing director and chief executive officer of Bandhan Bank.

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Bandhan Bank Q3 profit rises 10%

Bandhan Bank  on Thursday posted a 10.4 per cent rise in profit in the quarter ended December on account of rise in interest income. The net profit was Rs 331.3 crore in the period as compared to Rs 300 crore year earlier, said the private lender.

However, the asset quality of the bank which was listed last year worsened with gross bad loans as a percentage of total loans standing at 2.41 per cent at the end of December, compared with 1.29 per cent in the previous quarter and 1.67 per cent a year earlier.

The lender made a provision of Rs 385 crore for its exposure to a borrower from the infrastructure development and finance sector, the bank said. Total provisions, after accounting for a writeback for treasury investments, more than tripled to 3.78 billion rupees.

Key highlights

Net Interest lncome (Nll) for the quarter grew by 53.5% at Rs 1124 crore as against Rs 732 crore in the corresponding quarter of the previous year.

Non-interest income grew by 4.81 per cent at Rs 234 crore for the quarter ended December 31, 2018 against Rs 158 crore in the corresponding quarter of the previous year

Operating profit for the quarter increased by 56.8% at Rs 900 crore against Rs 1,574 crore in the corresponding quarter of the Previous Year.

Net interest Margin (NlM) for the current quarter stands at 70.3 per cent against 9.9 per cent in the corresponding quarter of the previous year and 9.7 per cent for FY 2017-18.

CASA ratio at 41.4 per cent of  total deposit, compared to 33.2 per cent in the corresponding period last year

CASA grew 7O.7 per cent Y-o-Y at Rs 14,342 crore compared to Rs 8,401 crore.

Tota| Advances (on book + off book) increased by 46.1 per cent of Rs 35,599 crore as on December 31, 2018 against Rs 24,364 crore as on December 31,2017

Total Deposits grew by 36.9 per cent as on December 31, 2018 is at Rs 34,639 crore as compared to Rs 25,294 crore on December 31, 2017.

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Bandhan Bank Q2 profit jumps 47%

Bandhan Bank Ltd on Wednesday reported a 47.3% jump in its September-quarter net profit due to higher other income and net interest income. Net profit for the quarter stood at Rs487.65 crore against Rs331.09 crore a year ago.

Net interest income (NII), or the core income a bank earns by giving loans, was up 55.35% to Rs1,077.45 crore versus Rs693.57 crore last year. Other income was at Rs230.44 crore, up 35.16% from Rs173.24 crore a year ago.

Provisions and contingencies rose 42.83% to Rs124.18 crore in the quarter from Rs86.94 crore a year ago. On a quarter-on-quarter basis, these surged 55.17% from Rs80.03 crore.

Gross non-performing assets (NPAs) surged 48.07% to Rs413.35 crore at the end of the September quarter from Rs279.15 crore in the same quarter last year.

As a percentage of total loans, gross NPAs fell to 1.29% as compared with 1.43% in the year-ago quarter. Net NPAs were at 0.69% against 0.76% a year ago.

Advances for the quarter grew 64.1% to Rs 31,729.80 crore while deposits rose 30% to Rs 32,958.90 crore.

Recently, the Reserve Bank of India barred the bank from opening new branches and put a freeze on the remuneration of its managing director and chief executive officer Chandra Shekhar Ghosh. The lender has, however, said that it is taking necessary steps to comply with licensing condition and shall continue to engage with the RBI in this regard.

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RBI withdraws new branch permission & freezes compensation of MD & CEO of Bandhan Bank

The Reserve Bank of India (RBI) has frozen the remuneration of Bandhan Bank chief executive officer and managing director Chandrashekhar Ghosh for not complying with the promoter shareholding norms. Bandhan Bank also cannot open new branches without the regulator's permission.

"RBI has communicated to us that since the Bank was not able to bring down the shareholding of Non Operative Financial Holding Company (NOFHC) to 40 percent as required under the licensing condition, general permission to open new branches stands withdrawn and the Bank can open branches with prior approval of RBI and the remuneration of the MD & CEO of the Bank stands frozen at the existing level, till further notice," Bandhan Bank informed the stock exchanges.

The bank is taking necessary steps to comply with the licensing condition to bring down the shareholding of NOFHC in the Bank to 40 percent and shall continue to engage with RBI in this behalf, it added.

RBI’s licensing norms require a private sector bank to bring down its promoter shareholding to 40 percent within three years of operations.

Previously a microfinance institution, Bandhan Bank is one of the youngest private sector banks in India, completing three years on August 23. Bandhan went for an initial public offering (IPO) in March this year, which resulted in the promoter holding falling to 82.28 percent from 89.62 percent.

Recently, the bank failed in concluding talks to acquire PNB Housing Finance, which could have helped in bringing down the promoter holding.

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Bandhan Bank posts 47.5% rise in Q1 net profit

Bandhan Bank Ltd on Wednesday reported a 47.5% jump in its June-quarter net profit due to higher other income and net interest income. Net profit for the quarter stood at Rs 481.71 crore against Rs 326.56 crore a year ago.

Net interest income (NII), or the core income a bank earns by providing loans, was up 39.50% to Rs 1,037.17 crore from Rs 743.49 crore last year. Other income was at Rs 210.69 crore, up 72.75% from Rs 121.96 crore a year ago.

Provisions and contingencies rose 43.83% to Rs 80.03 crore in the quarter from Rs 55.64 crore a year ago. On a quarter-on-quarter basis, these declined 26.64% from Rs 109.09 crore.

Gross non-performing assets (NPAs) surged 121.67% to Rs 388.34 crore at the end of the June quarter from Rs 175.19 crore in the same quarter last year.

As a percentage of total loans, gross NPAs stood at 1.26% as compared to 1.25% in the previous quarter and 0.93% in the year-ago quarter. Net NPAs were at 0.64% in the June quarter compared to 0.58% in the previous quarter and 0.56% in the same quarter last year.

Advances for the quarter grew 52% to Rs 32,590 crore while deposits rose 37% to Rs 30,703 crore.

“The start of FY19 has been promising with advances growing year-on-year by 52%, overcoming the seasonality we normally witness during the first quarter.We will strive to maintain growth and the quality of assets during this financial year,” said Chandra Shekhar Ghosh, managing director and chief executive officer of the bank.

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Bandhan Bank Q4 result, profit rises 20%

Bandhan Bank Ltd on Friday reported a 20.3% jump in its March quarter net profit due to higher net interest income and other income.

Net profit for the quarter stood at Rs387.86 crore against Rs322.41 crore a year ago.

Net interest income (NII), or the core income a bank earns by giving loans, increased 25.2% to Rs863.40 crore versus Rs689.72 crore last year. Other income was at Rs203.37 crore, up 57.1% from Rs129.43 crore a year ago.

Provisions and contingencies surged 200% to Rs109.08 crore in the quarter from Rs36.44 crore a year ago. On a quarter-on-quarter basis, they fell 11% from Rs122.55 crore.

Gross non-performing assets (NPAs) advanced 333% to Rs373.14 crore at the end of the March quarter from Rs86.26 crore in the same quarter last year.

As a percentage of total loans, gross NPAs stood at 1.25% as compared to 1.67% in the previous quarter and 0.51% in the year-ago quarter. Net NPAs were at 0.58% in the March quarter compared to 0.8% in the previous quarter and 0.36% in the same quarter last year.

Advances for the quarter rose 76.45% from a year ago to Rs297.13 billion, while Deposits gained 45.81% to Rs338.69 billion.

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Punjab National Bank(PNB) Q3 net profit rises 11.06%

Punjab National Bank's third quarter (October-December) earnings missed analyst expectations on Tuesday, but asset quality improved sequentially.

Profit growth of 11 percent at Rs 230.11 crore and net interest income growth of 7 percent at Rs 3,989 crore year-on-year were below CNBC-TV18 poll of Rs 558.1 crore and Rs 4,122.9 crore, respectively.

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