Private Sector Bank Reports 58% YoY Decline In Q4 Profit At Rs 808 Crore, Dividend Declared

Bandhan Bank has announced its financial results for the fourth quarter revealing a significant decline in profitability. The bank's Profit After Tax (PAT) plummeted by 58% year-on-year (YoY), reaching Rs 808 crore.

The operating profit of the quarter showed a sequential decline of almost 7%, amounting to Rs 1,796 crore.

In the financial year 2022-23, the lender posted a net profit of Rs 2,195 crore, exhibiting significant growth compared to Rs 126 crore in the previous year.

The Net Interest Income (NII) witnessed a growth of 6.3% and reached Rs 9,260 crore. However, the non-interest income experienced a decline of 12.5%, settling at Rs 2,469 crore. Additionally, the operating profit also saw a decline of 11.5%, totaling Rs 7,091 crore.

The bank's net interest income (NII) increased by about 19% sequentially to Rs 2,472 crore during the quarter under review. Non-interest income fell by 39% QoQ from the previous quarter to Rs 629 crore for the entire period.

A dividend of Rs 1.50 per share has been suggested by the board for the fiscal year 2022-2023.

On the BSE, shares of the private lender traded 2.5% lower at Rs 237.95. The 52-week high and low prices for the stock are respectively Rs 335.50 and Rs 182.20 a share. The bank is worth Rs 38330.29 crore in the market.