Bandhan Bank Posts 30% Profit Surge Amid Asset Quality Improvement

Bandhan Bank reported a 30% increase in net profit to Rs 937 crore for Q3 of 2024. Total income rose to Rs 6,095 crore and interest income increased to Rs 5,500 crore. Asset quality improved as gross NPAs decreased, but the Capital Adequacy Ratio fell to 14.34%.

Bandhan Bank has announced a significant financial achievement for the third quarter ending September 30, 2024, with a 30% rise in net profit at Rs 937 crore. This marks a substantial improvement from the Rs 721 crore profit registered during the same period last year.

The bank's total income saw an impressive increase, climbing to Rs 6,095 crore, up from Rs 5,032 crore a year ago. Interest income was also up, reaching Rs 5,500 crore, an increase from the Rs 4,492 crore recorded in the previous September quarter of 2023.

Asset quality showed marked improvement with gross non-performing assets (NPAs) reduced to 4.68% of gross advances, compared to 7.32% the previous year. Despite these gains, the bank's Capital Adequacy Ratio saw a decline to 14.34% from last year's 19.21%.

(With inputs from agencies.)