Due to a decrease in bad loans, Bandhan Bank's Q1 net profit doubled to Rs 887 billion.
Bandhan Bank shares on the NSE closed 0.90 percent higher on July 22, 2022, at 285.80 per share.
Results for Bandhan Bank's fourth quarter show that the bank's net non-performing assets decreased from 3.29 percent as of 30 June 2021 to 1.92 percent as of 30 June 2022.
From Rs 2,731 crore, the total income rose to Rs 2,844.1 crore. According to Bandhan Bank, the lender's interest income increased to Rs 2,514.4 crore from Rs 2,114.1 crore.
As a result of a decrease in bad loans, Bandhan Bank reported on Friday that its net profit for the April through June 2022–23 period more than doubled to Rs 886.5 crore.
In the reviewed quarter, the bank's net profit increased 137 percent to 886.5 crore. In the same quarter last year, the bank reported a net loss of 373.1 crore rupees.
The private sector lender with its headquarters in Kolkata reported a net profit of Rs 373.1 crore during the same time last year.
In comparison to the same quarter last year, the Net Interest Income (NII) for the June quarter increased by 18.9% to Rs 2,514.4 crore.
As of June 30, 2022, total advances increased by 20.3% to Rs 96,649.7 crore from Rs 80,357 crore during the same period in the previous year.
Gross non-performing assets (GNPA) decreased from 8.18 percent on June 30, 2021, to 7.25 percent on June 30, 2022.
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