Q2FY24 Quarterly Result Announced for Bandhan Bank Ltd.
Bandhan Bank announced Q2FY24 results: 1. Financial Performance: - Total deposits grew by 12.8% YoY to Rs 1.12 lakh crore. - CASA ratio improved to 38.5% in Q2FY24. - Net Interest Income grew to Rs 2,443 crore. - Profit after tax (PAT) grew by 245% YoY to Rs 721 crore. 2. Loan Portfolio: -Loan portfolio stands at Rs 1.08 lakh crore, growing by 12.3% YoY - Retail loan books (other than housing finance) grew by 80% YoY. - Commercial banking book grew by 65% YoY. - Housing finance book grew by 4% YoY. 3. Asset Quality: - Gross NPA remained steady at 7.3%. - Collection efficiency for the bank improved to 98%. - PCR at 70% as of September 30, 2023. 4. Geographical Distribution: - Banking outlets present in 35 of states and union territories in India. - Focus on serving the rural and underbanked population. - Diversifying presence with non-east regions contributing over 50%. 5. Customer Base and Network: - Added nearly 1 million customers in Q2FY24, totaling 31.7 million customers. - Network consists of 1,621 branches and 4,598 banking units. Commenting on the performance, Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank said, “The performance in this quarter is encouraging for the bank. We have completed a significant IT transformation project which will not only boost customer experience but also our capabilities, resulting in further growth. The Bank has also made significant progress in diversifying its asset book geographically as well as in terms of product mix. We are already seeing signs of an uptick in growth and are confident that the Bank is on the expected growth trajectory.” Result PDF18-10-2023
