Bandhan Bank in its fourth quarter, which ended on March 31, 2022, posted a net profit of Rs 1,902.3 crore, up 1746.89 per cent from Rs 103 crore in Q4 FY21.
The lender’s net interest income (NII) for fiscal 2022 grew 15.2 per cent to Rs 8,714 crore compared with Rs 7,563.4 crore reported last year.
NII for the quarter under review increased 44.6 per cent to Rs 2,539.8 crore versus Rs 1,757 crore in the corresponding quarter last year.
Non-interest income stood at Rs 2,822.8 crore for the full year, up 39.6 percent from Rs 2,022.3 crore in the previous year.
In the fourth quarter, non-interest income rose 37.7 per cent to Rs 964.4 crore, compared with Rs 700.4 crore in the year-ago period.
Operating profit for the year was Rs 8,013.4 crore, up 18.4 per cent from Rs 6,768.8 crore in the previous year.
Operating profit was Rs 2,521.3 crore in Q4 FY22, up 53.5 percent from Rs 1,642.8 crore in the corresponding quarter, a year ago.
Net Interest Margin (annualized) for the year ending March 31, 2022, was 8.2 per cent, while in the last fiscal, it stood at 7.8 per cent.
On a Quarter-over-quarter basis, Net Interest Margin was 8.7 per cent in Q4FY22 compared with 6.8 per cent in Q4FY21.
Chandra Shekhar Ghosh, Managing Director, and CEO of Bandhan Bank said, “Bank has seen best-ever quarterly performance during the quarter backed by robust all-round operating performance and lower credit costs. Given the strong recovery and stable operating environment, we are confident of further improving our performances during next fiscal as well.”
Bandhan Bank’s loan portfolio increased 14.1 per cent YoY, while deposits increased 23.5 per cent.
The lender’s current account savings account (CASA) rose 18.5 per cent YoY, while gross non-performing assets (GNPA) shrank to 6.46 per cent, compared with 10.81 per cent in the third quarter.
Net NPA stood at 1.66 per cent in the quarter ended, as against 3.01 per cent in the third quarter.