Bandhan Bank reported a net profit of Rs 937 crore for the quarter ended September 30, 2024 which was up by 30% over 721 crore reported by the lender in the year ago period. The net interest income (NII) as of Q2 FY25, stood at Rs 2,948 crore compared to Rs 2,443 crore as of Q2 FY24, representing a growth of 21%.
The Net Interest Margin (NIM) for the quarter was reported at 7.4% compared to 7.2% in Q2 FY24. The operating profit was reported at Rs 1,855 crore in Q2 FY25 compared to Rs 1,583 crore in Q2 FY24, which was a 17% YoY growth.
The provisions (other than tax) & contingencies charged to the Profit & Loss for Q2 FY25 were at Rs 606 crore compared to Rs 636 crore in Q2 FY24.
Bank’s RoA stood at 2.1% and RoE at 15.8% for the quarter on an annualised basis.
Deposits
As of September 30, 2024, total deposits stood at Rs 1.43 lakh crore as against Rs 1.12 lakh crore in the previous year – which is a growth of 27% YoY and 7% QoQ.
CASA deposits stood at Rs 47,283 crore and CASA Ratio stood at 33.2%.
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Advances
As of September 30, 2024, gross advances stood at Rs 1.31 lakh crore as against Rs 1.08 lakh crore in the previous year – a growth of 21% YoY and 4% QoQ
On a YoY basis, retail books other than housing, grew by 92%, while commercial banking grew 40%. The EEB grew 11% and the housing book showed a growth of 17%.
GNPA was reported at 4.7% in Q2 FY25 versus 7.3% a year ago while Net NPA stood at 1.3% in Q2 FY25 versus 2.3% a year ago.
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Distribution Network
The Bank’s distribution network spans nearly 6,300 outlets The Bank added 7 lakh customers, during the quarter and current customers stand at over 3.50 crore customers. The Bank currently has nearly 80,000 employees.
Speaking on the bank’s performance, Ratan Kumar Kesh, MD & CEO, said, “Bandhan Bank’s strong performance in the second quarter reflects the momentum in quality growth with our focus on effective risk management and compliance. Our success is anchored in the trust of our customers and the dedication of our employees. By focusing on innovation in technology, refining our processes, and enhancing products and people capabilities, we are well-positioned to drive the next phase of growth for Bandhan Bank 2.0”.
