Bandhan Bank Q3 Results FY2023, Net Profit at Rs. 290.6 Crores

Bandhan Bank Q3 Results FY2023

Corporate Action
by Shreya Anaokar Last Updated: 2023-01-23T11:51:54+05:30

On 20th January 2023, Bandhan Bank announced its results for the third quarter of FY2023.

Key Highlights:

- 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.

Business Highlights:

- 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.”
 


Start Investing in 5 mins*

Get Benefits worth 2100* | Rs. 20 Flat Per Order | 0% Brokerage

About the Author

Shreya Anaokar is a Content Writer at 5paisa. She has completed her Master’s in Finance and Graduation in Statistics from the University of Mumbai. 

Disclaimer

Investment/Trading is subject to market risk, past performance doesn’t guarantee future performance. The risk of trading/investment loss in securities markets can be substantial. Also, the above report is compiled from data available on public platforms.

Open Free Demat Account

& get benefits worth 2100*

Resend OTP
Please Enter OTP
  • Have Promo code?
  • Use code ACT2100
Enter Promo code
Account belongs to

By proceeding, you agree to the T&C.

Start Investing Now!

Open Free Demat Account in 5 mins

Enter Valid Mobile Number