Bandhan Financial institution on Friday reported a 36% rise in web revenue at ₹859 crore for the third quarter ended December 31, 2021. It was ₹633 crore within the year-ago interval.
The web curiosity earnings (NII) rose marginally in the course of the third quarter to ₹2,125 crore as towards ₹2,072 crore in the identical quarter final 12 months.
Non-interest earnings grew by 27% to ₹712 crore for the quarter ended December 31, 2021 towards ₹562 crore within the corresponding quarter of the earlier 12 months.
On the asset high quality entrance, gross non-performing property (NPAs) rose considerably to 10.81% of gross advances towards 1.1% within the year-ago interval. Equally, web NPAs elevated to three.01% from 0.26%.
Working Revenue for the quarter elevated by 1.4% to ₹1,950 crore as in comparison with ₹1,923 crore within the earlier 12 months interval.
“We now have seen all spherical restoration in the course of the quarter with improved assortment and improve in
disbursement. This fall traditionally has been the very best quarter for the Financial institution and we’re constructive of our enterprise going ahead. With Group mortgage share in complete advances diminished to 52%, Financial institution is on observe to realize the diversification technique which it had laid down for FY25,” Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Financial institution
Nevertheless, provisions apart from tax and contingencies declined to ₹805.71 crore as in comparison with ₹1,077.83 crore earlier.
Internet Curiosity Margin additionally slipped to 7.8% in the course of the quarter from 8.3% in the identical interval of the earlier fiscal.
Regardless of technical write off of ₹1,200 crore in the course of the quarter, Provision Protection Ratio (PCR) improved from 74.1 per cent as on September 30, 2021 to 74.4 per cent as on December 31, 2021.
On Friday, Bandhan Financial institution shares closed 0.93% at ₹297.15 apiece on NSE.
Supply: Live Mint