Bandhan Bank net profit up 47.5% in Q1

Bandhan Bank net profit up 47.5% in Q1
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Kolkata: Bandhan Bank on Wednesday reported a 47.5 per cent increase in net profit to Rs 481.71 crore in the quarter ended on June 30 as compared to Rs 327 crore in the corresponding period last year.

The lender said its net interest income for the quarter grew by 39.5 per cent at Rs 1,037 crore as against Rs 743 crore in the year-ago period.

The Kolkata-headquartered bank also said its total advances increased by 52.37 per cent to Rs 32,590 crore at the end of first quarter of the current fiscal, as against Rs 21,389 crore in the corresponding period last year.

Its total deposit was at Rs 30,703 crore as on June 30, up by 36.83 per cent.

Its gross non performing assets (NPA) stood at 1.26 per cent while net NPA was at 0.64 per cent at the end of the quarter.

During the quarter, its share of non-micro loans to total advances increased to 14 per cent from 9 per cent in the corresponding period last year.

IANS