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Bandhan Bank net profit for Q4 falls 80% to ₹103 cr on higher provisions

By Saima Siddiqui 
Updated Date

New Delhi: Bandhan Bank on Saturday showed a net profit of ₹103.03 crore in its fourth quarter ended on March 31, this year on higher provisions. The bank, however, had posted a net profit of ₹517 crore in the year-ago period.

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The bank’s net interest income (NII) rose 4.6% at 1,757 crore as against ₹1,680 crore in Q4FY20.

The board has proposed a dividend of ₹1 per share subject to the approval of the members at the ensuing Annual General Meeting, the lender said in a regulatory filing.

The bank’s gross non-performing asset (GNPA) ratio fell to 6.8% from 7.1% on a pro forma basis as on December 31, 2020. Its net NPA rose to 3.5% from 2.4% in the previous quarter.

Bandhan Bank’s provisions rose sharply to ₹1,594 crore in the 31 March, 2021 quarter from ₹827.36 crore a year ago.

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The operating profit for the quarter increased by 13.7% to ₹1,729.5 crore against ₹1,520.7 crore in the corresponding quarter of the previous year.

Notably, the lender’s scrip on BSE closed 1.75% higher to ₹299.90 a piece, this week.

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