Bandhan Bank Q2 net profit rises 18.2 per cent to Rs 331 crore

Kolkata: Bandhan Bank has posted an 18.21 per cent year-on-year growth in its net profit for the quarter ended September at Rs 331 crore.

Operating profit of the Kolkata-based lender rose 27.62 per cent to Rs 596 crore during the quarter under review, the bank said in a release.

The current account and savings account (CASA) of the bank was 28.18 per cent of total deposits in the September-ended quarter.

Bandhan Bank’s net interest margin (NIM) in July-September stood at 9.33 per cent, lower than 10.17 per cent in the corresponding quarter a year ago, the release said.

Net interest income (NII) of the lender for the reporting quarter was at Rs 694 crore as against Rs 596 crore as on September 30, 2016.

The bank’s gross NPA stood at 1.26 per cent, while net NPA was at 0.67 per cent in the quarter to September.

“We are happy we the results. We have already appointed the merchant bankers for our proposed initial public offering (IPO) and are preparing ourselves for the public issue,” MD and CEO of Bandhan Bank Chandra Sekhar Ghosh said in the release.

The lender’s capital adequacy ratio during the quarter stood at 26.25 per cent, with Tier I capital at 24.86 per cent.