Bandhan Bank brings cheer

Bandhan Bank is one big gainer on the BSE since the opening bell today morning. From its close of Rs.192.45, it opened much higher at Rs.203.80 and went on to hit an intraday high at Rs.215.50 and this is on the back of very robust volumes. Its 52-week high stands at Rs.263.15.

The market is happy with the Bank’s performance for Q1FY25.

The Bank’s net revenue as of Q1 FY25 was Rs.3,533 crore, up 23% (YoY) while NII grew 21% at Rs.3005 crore. NIM for the quarter was stable at 7.6%.

The cost-to-income ratio for the quarter was 45% compared to 48% in the previous quarter Operating Profit was Rs.1,941 crore, up24%.

Provisions (other than tax) & contingencies, charged to the Profit and Loss for Q1 FY25 were at Rs.523 crore compared to Rs. 602 crore in Q1 FY24

PAT for the period was up 47% at Rs.1063 crore.

Bank’s RoA stood at 2.5% and RoE at 18.8% for the quarter (annualised basis).

In terms of asset quality - Gross Non-Performing Assets (NPA) improved QoQ to 4.23% v/s 3.84% while Net NPA was at 1.15% v/s 1.11%.

Collection efficiency for EEB loans was stable at 98.7% for the quarter ended June 30, 2024.

Provision Coverage Ratio as of June 30, 2024, is 73.7% vs. 71.8% in the previous quarter.

As of June 30, 2024, the Bank’s capital adequacy ratio including profits stood at 15.7% as against a regulatory requirement of 11.5%.

Bank has 6,300 outlets and currently has more than 77,500 employees.