Bandhan Bank Q2 net profit up 47% at Rs 488 crore

Bandhan Bank on Wednesday posted a 47.28% jump in net profit for the second quarter ended September 30, 2018 at Rs 487.65 crore compared with Rs 331.09 crore in the corresponding quarter of the previous year.

The bank's net interest income (NII) for the quarter grew by 55.6% at Rs 1,078 crore against Rs 693 crore in the corresponding quarter of the previous year.

Bandhan Bank's non-interest income grew by 3.1% at Rs 230 core for the quarter ended September 30, 2018 against Rs 223 crore in the similar period last year.

Bandhan Bank MD and CEO Chandra Shekhar Ghosh said, "The second quarter of FY 2018-19 continues to be promising with advances growing Y-o-Y by 51% and CASA ratio of 36.9%. We expect the momentum to continue in the second half of FY 2018-19”.

The bank's CASA ratio stood at 36.9% of total deposit, compared to 28.2% in the corresponding period last year. CASA grew 69.8% Y-o-Y at Rs 12,176 crore compared with Rs 7,170 crore. The bank's Net NPAs stood at Rs 220.36 crore, compared with Rs 146.72 crore in the corresponding quarter last year.

Also, total deposits grew by 29.6% as on September 30, 2018 at Rs 32,959 crore compared with Rs 25,442 crore in the same period during the last year. Bandhan Bank's total banking outlets as on September 30, 2018, stood at 3,948. The network consists of 938 branches and 3,010 doorstep service centres. The total number of ATMs stood at 476, and the number of
employees of the bank has gone up to 30,431.

Shares of Bandhan Bank on Wednesday closed at Rs 512.05 a piece on the BSE.