On January 31, Bandhan Bank announced a 42% drop in net profit for the quarter that ended on December 31, 2024, to Rs 426 crore. It reported net profit of Rs 733 crore in the year-ago period. Net interest income (NII) as of Q3FY25 amounted at Rs 2,830 crore as opposed to Rs 2,525 crore as of Q3FY24, reflecting a growth of 12% YoY.
Also Read - Quarterly Financial Results of Public & Private sector banks for Q3FY25
"Bandhan Bank's performance in the third quarter reflects sustainable growth, with a strong focus on risks and compliance," stated MD & CEO Partha Pratim Sengupta in his remarks about the Bank's performance. The dedication of our staff and the confidence of our clients are the foundations of our ongoing success.
Bandhan Bank is well-positioned for the next stage of growth as we transition into Bandhan Bank 2.0, thanks to an increase in our loan book and an emphasis on technology innovation, process improvement, and fortifying our staff and products."
While the net non-performing asset (NPA) was 1.3% in Q3FY25 compared to 2.2% YoY, the gross NPA was 4.7% in Q3FY25 compared to 7% a year earlier. The quarter's Net Interest Margin (NIM) was 6.9%, down from 7.2% in Q3FY24. In Q3FY24, the provisions were Rs 684 crore, but in Q3FY25, they were Rs 1,376 crore.
Operating profit increased 22% year over year to Rs 2,021 crore in Q3FY25 from Rs 1,655 crore in Q3FY24.As of December 31, 2024, Gross Advances stood at Rs.1.32 lakh crore as against Rs.1.16 lakh crore in the previous year, a growth of 14% YoY.
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