Bandhan Bank net profit rises 20%

Private lender Bandhan Bank on Friday reported a 20.3 per cent rise in net profit at ~3.88 billion for the last quarter of 2017-18, on the back of healthy interest and non-interest income. The bank had registered a net profit of ~3.2 billion in the January-March quarter of 2016-17.

Net interest income (NII) for the quarter grew by 25.2 per cent to ~8.6 billion as against ~6.9 billion in the same quarter year earlier. Noninterest income jumped 57.4 per cent to ~2 billion as against ~1.3 billion, the bank said in a regulatory filing. Total income

in the January-March period increased to ~15.5 billion, up 29 per cent from ~12 billion in 2016-17.

For the entire 2017-18 financial year, the net profit grew by 21 per cent to ~13.5 billion against ~11.1 billion in 2016-17.

Interest income stood at ~30.3 billion for the year, up 26.1 per cent. Non-interest income shot up 71.8 per cent to ~7.1 billion.

Total income during the fiscal year rose to ~55.1 billion, as against ~43.2 billion in the preceding year. On the asset front,

there was an uptick in bad loans with gross non-performing assets rising to 1.25 per cent of gross advances as on March 31, as against 0.51 per cent by same time a year earlier.

In absolute value, gross NPAs were ~3.7 billion, compared with ~0.9 billion.