Bandhan Bank Q2 Profit Jumps 47.4% YoY To Rs 488 crore; Gross NPAs Steady

India's new age Bandhan Bank Ltd. reported 47.4% increase in net profit in the second quarter ended September 30, 2018. The net profit at the bank came in at Rs. 488 crore vs Rs. 331 crore in the corresponding quarter a year ago.

Net interest income for the second quarter increased YoY by 55.60% to Rs 1,080 crore while Net interest margin (NIM) also increased from 9.3% in the year-ago quarter to 10.3%.

Gross NPAs at the bank remained almost steady at 1.29% in comparison to 1.26% in the quarter ended June.

As of September 30, 2018, of the total loan book, 87% is commanded by micro-credit loans while the rest of the portfolio comprises non-micro credit.

During the quarter ended September, bank added 7.7 lakh new customers and as at the end of September has a total of 1.44 crore customers.

The bank further said it is committed to comply with RBI norms and has 3 ways to lower down NOFHC stake for adhering to minimum public shareholding rules.

After the quarterly results, the scrip of Bandhan Bank jumped by as much as 7.52% to hit an intra-day of Rs. Rs 521.40 on the BSE.

Goodreturns.in