Bandhan Bank Q2 Profit Rises 30% to Rs 937 Cr

Kolkata, Oct 25 (PTI) Private lender Bandhan Bank on Friday reported a 30 per cent increase in its net profit for second quarter of the current fiscal to Rs 937 crore.

The bank had posted a net profit of Rs 721 crore in the year-ago period.

The bank said in a statement on Friday that operating profit of the bank at the end of second quarter stood at Rs 1,855 crore, registering a rise of 17 per cent over Rs 1,583 crore in the similar previous period.

Provisions and contingencies charged to profit and loss for the period was Rs 606 crore, compared to Rs 636 crore in the previous corresponding period.

Deposits of the bank at the end of current second quarter stood at Rs 1.43 lakh crore, while advances at Rs 1.31 lakh crore.

Collection efficiency ratio for micro-credit at the end of second quarter stood at 98.1 per cent. Gross NPA stood at 4.7 per cent at the end of current second quarter, as compared to 7.3 per cent in the previous corresponding period.

Net NPA of the bank stood at 1.3 per cent, as against 2.3 per cent in the second quarter of last financial year.

Net interest margin (NIM) of the bank for the quarter stood at 7.4 per cent as compared to 7.2 per cent in the previous corresponding period. PTI dc