Q2 scorecard of Bandhan Bank

Bandhan Bank on Thursday announced its result for second quarter. The Net Profit of the bank rose by 99.18 per cent to Rs. 972 crore against Rs 488 crore in same quarter previous year. However, the numbers for this quarter are not comparable to the same quarter last year due to its merger with Gruh Finance.

Net Interest Income (NII) for September quarter grew by 41.84 per cent to Rs. 1,529 crore as against Rs. 1,078 crore in the corresponding quarter of the previous year. Annualized Net Interest Margin (NIM) for the quarter ending September stood at 8.2 per cent against 10.2 per cent in the corresponding quarter of the previous year.

Gross NPAs of the bank as of September quarter is at 1.76 per cent against 2.02 per cent as of June quarter (standalone). Net NPAs for September quarter stood at 0.56 per cent against 0.56 per cent as of June quarter (standalone).

Total Advances (on book + off book) of the bank grew by 92.33 per cent to Rs. 64,186 crore as of September quarter of FY20 against Rs. 33,373 crore as of September quarter of FY19. Total Deposits increased by 49.26 per cent to Rs. 49,195 crore as on September quarter of FY20 as compared to Rs. 32,959 crore as of same period previous year.

On Thursday, the stock of Bandhan Bank opened at Rs. 558 per share and made an intraday high and low of Rs. 586 and Rs. 558.40, respectively on the BSE. At 2.52 pm the stock was trading at Rs. 571, up by 2.72 per cent.