Bandhan Bank Q3 Results: Net Profit Drops 42% YoY To Rs.426 Cr; NII Zooms 12% To Rs.2,830 Cr

At its meeting on Friday, January 31, 2025, in Kolkata, Bandhan Bank announced its financial results for the quarter and nine months ending December 31, 2024. For the quarter ending December 31, 2024, the profit after tax was Rs. 426 crore as opposed to Rs. 733 crore in the year-ago quarter, representing a 42% YoY drop. As of Q3 FY25, net interest income (NII) was Rs. 2,830 crore, up 12% year on year from Rs. 2,525 crore in Q3 FY24.

The quarter's Net Interest Margin (NIM) was 6.9% as against 7.2% in Q3 of FY24. Operating profit climbed 22% year on year to Rs. 2,021 crore in Q3 FY25 from Rs. 1,655 crore in Q3 FY24. As of December 31, 2024, the bank's provision coverage ratio, comprising technical write-offs, is at 85.4%, up from 70.2% the year before. Total deposits as of December 31, 2024, were Rs. 1.41 lakh crore, up 20% year on year from Rs. 1.17 lakh crore the year before. CASA deposits totalled Rs. 44,735 crore, and the CASA ratio was 32%.

MD & CEO Partha Pratim Sengupta said, "Bandhan Bank's performance in the third quarter reflects sustainable growth, with a strong focus on risks and
compliance. Our continued success is built on the trust of our customers and the hard work of our employees. With growth in our loan book and a focus on technological innovation, improving processes, and strengthening our products and teams, Bandhan Bank is well-positioned for the next phase of growth as we evolve into Bandhan Bank 2.0."

Gross Advances as of December 31, 2024, were Rs. 1.32 lakh crore, up 14% year on year from Rs. 1.16 lakh crore the year before. There are around 6,300 outlets in the bank's distribution network. At present, the Bank employs close to 78,400 individuals.

With about 6300 banking facilities throughout 35 of India's 36 states and union territories, Bandhan Bank has expanded its footprint in recent years. As of December 31, 2024, Bandhan Bank had a deposit base of Rs. 1.41 lakh crores.
As of December 31, 2024, Bandhan Bank's advances were Rs. 1.32 lakh crore, demonstrating its steady development.

According to Bandhan Bank, net interest income (NII) climbed 18% year on year to Rs. 8,784 crore as of 9M FY25 from Rs. 7,459 crore in 9M FY24. For the nine months ending December 31, 2024, the profit after tax was Rs. 2,427 crore, up 12% year on year from Rs. 2,175 crore in the same period of the previous fiscal year.