Bandhan Bank Q4AF22 income increases 43% to Rs 3,504.2 cr; profit at Rs 1,902.3 cr

Bandhan Bank Q4AF22 income increases 43% to Rs 3,504.2 cr;  profit at Rs 1,902.3 cr

On asset quality, there was a slight improvement with the gross non-performing assets (NPAs) falling to 6.46 per cent of the gross advances as of March 31, 2022, from 6.81 per cent by March 2021.

Private sector Bandhan Bank on Friday reported a multi-fold hop in its net profit at Rs 1,902.30 crore in the quarter ended March 2022. The bank had posted a net profit of Rs 103 crore in the year-prior quarter. Total income of the bank in Q4FY22 rose by 43% to Rs 3,504.2 crore, as against Rs 2,457.4 crore in a similar time of FY21, Bandhan Bank said in a regulatory filing. Net interest income during the quarter rose by 45% to Rs 2,539.8 crore, while non-interest income grew by 38 per cent to Rs 964.4 crore, the bank said.

Net NPAs or bad loans reduced significantly to 1.66 per cent, from 3.51 per cent.

Provisions (other than tax) for the quarter were trimmed massively to Rs 4.7 crore, as against Rs 1,507.70 crore in March 2021 quarter, the bank said.

“Bank has seen best ever quarterly performance during the quarter backed by robust all round operating performance and lower credit costs. Given the strong recovery and stable operating environment we are confident of further improving our performances during next fiscal as well,” Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank said.

Banking outlets as on March 31, 2022, stood at 5,639. Total number of ATMs stood at 471 as on March 31, 2022 against 487 as on March 31, 2021. During the quarter, the number of employees of the bank increased from 55,341 to 60,211, said the lender.

Stock of Bandhan Bank traded at Rs 322.50 apiece on BSE, up by 6.02 per cent from previous close.

Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
REC net profit up 14% to Rs 2,301 cr in March quarter on higher revenues
REC net profit up 14% to Rs 2,301 cr in March quarter on higher revenues
In 2021-22, the consolidated net profit also climbed to Rs 10,035.70 crore. State-owned REC Ltd posted a 14 percent ascend in its consolidated net profit to ...
JK Paper Q4 profit increases 25% to Rs 170 cr;  recording numbers like in the third quarter
JK Paper Q4 profit increases 25% to Rs 170 cr; recording numbers like in the third quarter
For the fiscal ended March 31, 2022, consolidated net profit was at Rs 543.82 crore as against Rs 236.72 crore in the previous fiscal, JK Paper said. JK ...
CHART-Take Five: Is talk of a recession justified?  follow the numbers
CHART-Take Five: Is talk of a recession justified? follow the numbers
Friday’s existing-home sales data could show just how quickly rising mortgage rates are cooling the housing market. The Fed’s determination to contain ...
US job market still tightening;  Moderate producer cost gains
China looks to boost job prospects for record number of recent graduates
“China … encourages employers in COVID-hit regions to sign labour contracts with college graduates online,” it said, promising support for smaller and ...
Velektin, a patented insecticide from Parijat Industries, is now available for cotton, corn and pepper
Velektin, a patented insecticide from Parijat Industries, is now available for cotton, corn and pepper
International registrations have already been filed in cotton growing countries of West and East Africa including Tanzania, Ivory coast and Mali and Ethiopia ...
Bank of Baroda reports net profit of Rs 1,779 crore in March quarter
Bank of Baroda reports net profit of Rs 1,779 crore in March quarter
“Also, there was an additional impact during the last quarter of FY21 because of the one-time deferred tax liability hit we took. Now, we are in a stable tax ...
US job market still tightening;  Moderate producer cost gains
Nine US Gulf Coast refineries increased federal benzene levels
EIP spokesperson Tom Pelton said the study was intended to make an impression on the U.S. Environmental Protection Agency (EPA). Nine U.S. Gulf Coast ...
PM Modi takes aim at Congress, claiming BJP-led government has restored faith in youth's innovative skills
PM Modi takes aim at Congress, claiming BJP-led government has restored faith in youth’s innovative skills
“After 2014, we revived the spirit of innovation in India’s youth. We focused on ‘idea, innovation and industry’. First, we invested in infrastructure and ...
GLOBAL MARKETS-Asian stocks trim weekly losses as dollar remains near 20-year highs
GLOBAL MARKETS-Asian stocks trim weekly losses as dollar remains near 20-year highs
Australian shares gained 1.93%, while Japan’s Nikkei stock index jumped 2.64%. In China, the blue-chip CSI300 index was up 0.61% and Hong Kong’s Hang Seng ...
Modi-Deuba's Lumbini talks will cover a wide range of topics, including foreign policy
Modi-Deuba’s Lumbini talks will cover a wide range of topics, including foreign policy
”The fact that a return visit is taking place in such a close succession is a reflection of the closeness of our high-level exchanges as well as of the ...
Show next
We will be happy to hear your thoughts

Leave a reply

Compsmag - Latest News In Tech and Business
Logo