Bandhan Bank Q3 Results FY2023, Net Profit at Rs. 290.6 Crores
On 20th January 2023, Bandhan Bank announced its results for the third quarter of FY2023.
- Net Income at Rs. 2080.4 crores, dropped by 2.1% YoY.
- Total income at Rs. 3113.7 crores, grew by 9.9% YoY.
- Profit before tax was reported at Rs. 380.7 crores, with a yearly decline of 66.7%.
- The bank reported its Profit after tax for the quarter at Rs. 290.6 crores, which dropped by 66.2% YoY.
- Total Advances (on book + off book + TLTRO + PTC) grew by 11.1% to Rs. 97,787.1 crore
- Total Deposits increased by 21.0% to Rs. 1,02,283.2 crores.
- Gross NPAs at Rs. 6,964.8 crores
- Capital Adequacy Ratio (CRAR) at 19.1%; Tier I at 18.1%
- Cost to Income Ratio stands at 38.3% in Q3FY23 as against 41.8% in Q2FY23.
- Banking outlets as on December 31, 2022, stood at 5,723. The network consists of 1,250 branches and 4,473 banking units. During the quarter, the number of employees of the bank has gone up to 66,114.
Commenting on the results, Chandra Shekhar Ghosh, MD & CEO, said, “The Bank registered good growth in business in the third quarter on a year-on-year basis. In terms of asset quality and stress, we see the worst is behind us and expect overall business momentum to remain robust from Q4 FY23 onwards. The Bank’s diversification agenda is well on track and with the operating environment being favorable, the Bank is well poised for its next phase of growth.”
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