Bandhan Bank Q4 net profit up 20.3% at ₹387.9 crore, Net profit for FY 17-18 jumps 21% at ₹1345.6 crore

MUMBAI, (GPN): Mr. Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank announced banks performance of the banks Financial Results for the Year ended March 31, 2018 in Mumbai – Photo By Sachin MurdeshwarMUMBAI, (GPN): Mr. Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank announced banks performance of the banks Financial Results for the Year ended March 31, 2018 in Mumbai – Photo By Sachin Murdeshwar

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* 3rd largest distribution network in India amongst private sector banks with total banking outlets at 3700 and Largest in East & North East region with total banking outlets at 2485

MUMBAI, 27 APRIL, 2018 (GPN) : The Board of Directors of Bandhan Bank Ltd., at a meeting held in Mumbai today approved its Audited Financial Results for the Year ended March 31, 2018. The accounts have been subjected to an audit by the statutory auditors of the bank.

 Key Highlights :

  • Deposit portfolio grew 45.8% Y-o-Y
  • Loan portfolio (on book + off book) grew 37.4% Y-o-Y
  • CASA grew 70.1% Y-o-Y
  • CASA ratio at 34.3%
  • Added 2.6 million customers; total customer base at 13.01 million
  • RBI Dispensation for deferment of MTM losses of ₹21.3 crore not availed
  • GNPA (on book +Off Book) reduced from 1.59 % in Q3FY18 to 1.15% Q4FY18
  • Capital Adequacy Ratio (CRAR) at 31.5%; Tier I at 30.3%

Highlights for the Quarter ended March 31, 2018:

  • Net Interest Income (NII) for the quarter grew by 25.2% at ₹863 crore as against ₹689 crore in the corresponding quarter of the previous year
  • Non-interest income grew by 57.4% at ₹203 crore for the quarter ended March 31, 2018 against ₹129 crore in the corresponding quarter of the previous year
  • Operating Profit for the quarter increased by 32.8% at ₹704 crore against ₹530 crore in the corresponding quarter of the previous year
  • Net Profit for the quarter grew by 20.3% at ₹388 crore against ₹322 crore in the corresponding quarter of the previous year
  • Net Interest Margin (NIM) for the current quarter stands at 9.3% against 10.7% in the corresponding quarter of the previous year
  • CASA ratio at 34.3% of total deposit, compared to 29.4% in the corresponding period last year
  • CASA grew 70.1% Y-o-Y at ₹11,628 crore compared to ₹6,837 crore
  • Total Advances (on book + off book) increased by 37.4% at ₹32,339 crore as on March 31, 2018 against ₹23,543 crore as on March 31, 2017
  • Total Deposits grew by 45.8% as on March 31, 2018 is at ₹33,869 crore as compared to ₹23,229 crore on March 31,2017
  • Gross NPAs as on 31st March 2018 at 1.15% (on book + off book), 1.25% (on book)
  • Net NPAs as on 31st March 2018 at 0.54% (on book + off book), 0.58% (on book)
  • During the quarter Bank has raised equity capital of ₹ 3,662 crore through IPO

Highlights for the Year ended March 31, 2018:

  • Added 2.6 million customers during FY 2017-18 with total customer base reaching 13.01 million (Micro Banking –10.6 million; Non-Micro Banking 2.4 million)
  • Net Interest Income (NII) for the Year ended March 31, 2018 grew by 26.1% at ₹3,032 crore against ₹2,404 crore in the previous year
  • Non-interest income grew by 71.8% at ₹706 crore for the Year ended March 31, 2018 against ₹411 crore in the previous year
  • Operating Profit grew by 35.5% for the Year ended March 31, 2018 at ₹2,430 crore against ₹1,793 crore in the previous year
  • Net Profit for the year ended March 31, 2018 grew by 21% at ₹1,346 crore against ₹1,112 crore in the previous year
Key Ratios: Particulars (in %) FY 2017-18 FY 2016-17
CASA to Total Deposit 34.3 29.4
Net Interest Margin 9.7 10.4
Cost to Income Ratio 35 36.3
Return on Average Assets 4.1 4.5
Return on Average Equity 26.0 28.5
Capital Adequacy Ratio (CAR) 31.5 26.4
Gross NPA (on book + off book) 1.15 0.38
Gross NPA (on book) 1.25 0.51
Net NPA (on book + off book) 0.54 0.26
Net NPA (on book) 0.58 0.36

During the year, the Bank’s share of non-micro advances to total advances increased to 14% from 9%.

Total Banking outlets as on March 31, 2018, stood at 3700. The network consists of 936 branches and 2764 doorstep service centres as against 840 branches and 2443 doorstep service centres as on March 31, 2017. Total number of ATMs stood at 460 as on March 18 against 282 as on March 17. During the year, the number of employees of the bank has gone up from 24220 to 28159.

Commenting on the performance, Mr. Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank said: “The year 2017-18 has been a watershed year for the bank. We had successful initial public offering (IPO) which was subscribed 14.6 times. We will continue to strive to maintain the quality of assets, growth in assets and profitability”. Ends

About the Author

Sachin Murdeshwar
Sachin Murdeshwar is a Sr.Journalist and Columnist in several Mainline Newspapers and Portals.He is an ardent traveller and likes to explore destinations to the core.