Private
sector lender Bandhan Bank on Friday reported a 45.55% year-on-year rise in net
profit at Rs.701.14 crore for the quarter ended 30 June, on the back of
higher net interest income and other income.
It had
posted a net profit of Rs.481.71 crore in the corresponding quarter last
year. It was higher than Rs.622.7 crore estimated by a Bloomberg poll of
five analysts.
Net
interest income (Nll) for the quarter increased 35.98% to Rs.1,410.38
crore, against Rs.1,037.17 crore in the same quarter last year.
Other
income grew 48.18% to Rs.312.21 crore during the quarter,
from Rs.210.69 crore a year ago.
Percentage
of gross non-performing assets (NPAs) climbed to 2.02% in Q1 from 2.04% on a
quarter-on-quarter basis. Percentage of net NPAs stood at 0.56%, against 0.64%
during the same period.
Provisions
and contingencies rose 56.70% year-on-year to Rs.125.40 crore during the
first quarter, from Rs.80.03 crore in the corresponding period last year.
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