InvestorQ : How does the Q1 results of Bandhan Bank look like?
sarah Leo made post

How does the Q1 results of Bandhan Bank look like?

Answer
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vidhya Laxmi answered.
3 months ago


Bandhan Bank reported 31.6% fall in net profit to Rs.550 crore for the Jun-20 quarter due to additional provision on standard assets. This additional provisioning of Rs.750 crore was on account of special provisioning for COVID-19 related losses and the bank feels that it is not adequately provided for even considering the downside risks of COVID losses.

NII for the Jun-20 quarter was up 15% at Rs.1811 crore while non-interest income was also up by 16.9% at Rs.387 crore. There was a marginal improvement in net interest margins or NIMs at 8.15%. During this period, the deposits grew by 35% with CASA growing by over 47%. Gross NPAs and net NPAs were marginally lower on a YOY basis.