Bandhan Bank posts 20% rise in fourth quarter profit at ₹388 cr

NEW DELHI: Private lender Bandhan Bank on Friday reported a 20.3% rise in net profit at ₹388 crore for the last quarter of 2017-18 fiscal on the back of healthy interest as well as non-interest income.

The bank had registered a net profit of ₹322 crore in the January-march quarter of 2016-17 fiscal. The net interest income (NII) for the quarter grew by 25.2% to ₹863 crore as against ₹689 crore in the same quarter year earlier.

Non-interest income jumped by 57.4% to Rs 203 crore as against Rs129 crore, the bank said in a regulatory filing. Total income in the January-march period of 2017-18 increased to ₹1,553.97 crore, up by 29% from ₹1,207.77 crore in same quarter of 2016-17. For the entire 2017-18 fiscal, the net profit grew by 21% to ₹1,346 crore against ₹1,112 crore in 2016-17.

Interest income stood at ₹3,032 crore for the year, up 26.1%. Noninterest income shot up by 71.8% to ₹706 crore. Total income during the fiscal rose to ₹5,508.48 crore, as against ₹4,320.12 crore in preceding fiscal.

On the asset front, there was an uptick in bad loans with gross non-performing assets (NPAS) rising to 1.25% of the gross advances as on March 31, 2018 as against 0.51% by same time year earlier.

In absolute value, the gross NPAS were ₹373.14 crore, compared with ₹86.26 crore. Net NPAS increased to 0.58% (₹172.90 crore) of the net advances by end of March 2018, versus 0.36% (₹61.17 crore). The board of directors at their meeting held on Friday recommended a dividend of ₹1 per equity share out of the net profits for the year ended March 31, 2018, subject to approval of the shareholders, the bank said.