Non-public lender Bandhan Financial institution has reported a muted third quarter (Q3FY23) with web revenue at ₹290.6 crore, down 66% on-year, owing to a decline in web curiosity revenue and better provisioning. It was ₹859 crore within the year-ago interval.
The online curiosity revenue (NII) fell 2% through the third quarter to ₹2,080.4 crore as towards ₹2,124.7 crore in the identical quarter final 12 months.
Non-interest revenue grew by 45% to ₹1,033.3 crore for the third quarter as in comparison with ₹712 crore within the corresponding quarter of the earlier 12 months.
The lender’s provisions got here in at ₹1,541 crore versus ₹1,280 crore QoQ and versus ₹806 crore on-year.
The financial institution’s web NPAs improved to 1.9% through the third quarter as towards 3.0% within the year-ago interval.
Gross NPAs as on 31 December, 2022 got here in at ₹6,964.8 crore (7.2%) as towards ₹6,853.9 crore (7.2%) as on 30 September, 2022 and towards ₹9,441.6 crore (10.8%) as on 31 December, 2021.
“When it comes to asset high quality and stress, we see the worst is behind us and anticipate general enterprise momentum to stay strong from This autumn FY23 onwards. The Financial institution’s diversification agenda is nicely on observe and with the working setting being beneficial, the Financial institution is nicely poised for its subsequent part of development, stated Chandra Shekhar Ghosh, MD & CEO.
In the course of the quarter underneath evaluation, Bandhan Financial institution’s whole deposits surged by 21% to ₹1,02,283.2 crore, whereas whole advances grew 11.1% to ₹97,787.1 crore.
The financial institution’s PCR stood at 75.4% as of the December quarter as in comparison with 74.4% within the year-ago interval, whereas the capital adequacy ratio was at 19.1%.
Banking shops as of the third quarter stood at 5,723. The community consists of 1,250 branches, 4,473 banking items as towards 1,176 branches and 4,450 banking items as on December 31, 2021.
In the course of the quarter underneath evaluation, the variety of workers of the financial institution has gone up from 64,078 to 66,114.
On Friday, Bandhan Financial institution shares closed 2.29% at ₹241.65 apiece on NSE.
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Supply: Live Mint