Bandhan Bank Q1 net profit rises 47% to ₹1,063 crore

The lender had earned a net profit of ₹721 crore in the year-ago period.

During the quarter, the bank's total income increased to ₹6,063 crore against ₹4,908 crore a year ago, Bandhan Bank said in a regulatory filing.

Interest income grew to ₹5,536 crore during the period under review from ₹4,523 crore in the corresponding quarter a year ago.

On the asset quality side, the bank's Gross Non-Performing Assets (NPAs) improved to 4.23% of gross advances as of June 30, 2024, from 6.76% in the April-June quarter of the previous fiscal.

Net NPAs also declined to 1.15 % of the advances from 2.18% a year ago.

As a result, provisions other than tax and contingencies declined to ₹523 crore against ₹602 crore earmarked during the same quarter a year ago.

The Capital Adequacy Ratio of the bank declined to 14.97% compared to 19.75% on June 30, 2023.