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Bandhan Bank Results: Latest Quarterly Results & Analysis

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Bandhan Bank Ltd. 31 Jan 2025 16:07 PM

Q3FY25 Quarterly Result Announced for Bandhan Bank Ltd.

Bandhan Bank announced Q3FY25 results

  • The Bank’s net revenue as of Q3FY25 was Rs 3,926 crore as compared to Rs 3,071 crore in Q3FY24; a growth of 28% YoY.
  • Net interest income (NII) as of Q3FY25, stood at Rs 2,830 crore compared to Rs 2,525 crore as of Q3FY24, representing a growth of 12% YoY.
  • Net Interest Margin (NIM) for the quarter was 6.9% compared to 7.2% in Q3FY24.
  • Operating Profit was Rs 2,021 crore in Q3FY25 compared to Rs 1,655 crore in Q3FY24, up 22% YoY.
  • The provisions (other than tax) & contingencies charged to the Profit and Loss for Q3FY25 were at Rs 1376 crore compared to Rs 684 crore in Q3FY24.
  • The profit after tax for Q3FY25, stood at Rs 426 crore compared to Rs 733 crore, registering a de-growth of 42% YoY; Bank’s RoA stood at 0.9% and RoE at 7% for the quarter (annualised basis).
  • Asset Quality The collection efficiency for EEB loans was marginally lower at 97.4% for Q3FY25 Provision Coverage Ratio (Including Technical Write-offs) as of December 31, 2024, is 85.4% vs. 70.2% in the previous year.
  • Deposits:
    • As of December 31, 2024, total deposits stood at Rs 1.41 lakh crore as against Rs 1.17 lakh crore in the previous year – a growth of 20% YoY.
    • CASA Deposits stood at Rs 44,735 crore and CASA Ratio stood at 32%, CASA Retail TD to total deposit ratio stands at around 69%.
  • Advances:
    • As of December 31, 2024, Gross Advances stood at Rs 1.32 lakh crore as against Rs 1.16 lakh crore in the previous year – a growth of 14% YoY.
    • On a YoY basis, Retail book (other than housing) grew 95%, Commercial Banking grew 38%, and the Housing book showed a growth of 13% (19% YoY excluding IBPC).
  • Distribution Network The Bank’s distribution network spans nearly 6,300 outlets. The Bank currently has nearly 78,400 employees.

Partha Pratim Sengupta, MD & CEO, Bandhan Bank, said: "Bandhan Bank’s performance in the third quarter reflects sustainable growth, with a strong focus on risks and compliance. Our continued success is built on the trust of our customers and the hard work of our employees. With growth in our loan book and a focus on technological innovation, improving processes, and strengthening our products and teams, Bandhan Bank is well-positioned for the next phase of growth as we evolve into Bandhan Bank 2.0."

Result PDF

Bandhan Bank announced H1FY25 & Q2FY25 results

Q2FY25 Financial Highlights:

  • The Bank’s net revenue as of Q2FY25 was Rs 3,543 crore as compared to Rs 2,984 crore in Q2FY24; a growth of 19%.
  • Net interest income (NII) as of Q2FY25, stood at Rs 2,948 crore compared to Rs 2,443 crore as of Q2FY24, representing a growth of 21%.
  • Net Interest Margin (NIM) for the quarter was 7.4% compared to 7.2% in Q2FY24.
  • Operating Profit was Rs 1,855 crore in Q2FY25 compared to Rs 1,583 crore in Q2FY24, up 17%
  • The provisions (other than tax) & contingencies charged to the Profit and Loss for Q2FY25 were at Rs 606 crore compared to Rs 636 crore in Q2FY24.
  • The profit after tax for the quarter ended Sept 30, 2024, stood at Rs 937 crore compared to Rs 721 crore, registering a growth of 30% YoY; Bank’s RoA stood at 2.1% and RoE at 15.8% for the quarter (annualised basis).
  • Asset Quality:
    • The collection efficiency for EEB loans was marginally lower at 98.1% for Q2FY25.
    • The bank's Gross Non-Performing Assets (GNPA) has improved YoY to 4.7% in Q2FY25 compared to 7.3% in Q2FY24.
    • Net NPA improved to 1.3% in Q2FY25 vs 2.3% in Q2FY24.
    • Provision Coverage Ratio as of Sept 30, 2024, is 73.5% vs. 70% in the previous year.
  • Deposits:
    • As of Sept 30, 2024, total deposits stood at Rs 1.43 lakh crore as against Rs 1.12 lakh crore in the previous year – a growth of 27% YoY and 7% QoQ.
    • CASA Deposits stood at Rs 47,283 crore and CASA Ratio stood at 33.2%.
    • CASA Retail TD to total deposit ratio stands at 68%.
  • Advances:
    • As of Sept 30, 2024, Gross Advances stood at Rs 1.31 lakh crore as against Rs 1.08 lakh crore in the previous year – a growth of 21% YoY and 4% QoQ.
    • On a YoY basis, Retail book (other than housing) grew 92%, Commercial Banking grew 40%, EEB grew 11% and the Housing book showed a growth of 17%.

H1FY25 Financial Highlights:

  • The Bank’s net revenue as of H1FY25 was Rs 7,075 crore as compared to Rs 5,859 crore in H1FY24; a growth of 21%
  • Net interest income (NII) as of H1FY25, stood at Rs 5,953 crore compared to Rs 4,934 crore as of Q2FY24; a growth of 21%
  • Operating Profit was Rs 3,796 crore in H1FY25 compared to Rs 3,146 crore in H1FY24, up 21%
  • The provisions (other than tax) & contingencies charged to the Profit and Loss for H1FY25 were at Rs 1,129 crore compared to Rs 1,238 crore in H1FY24
  • The profit after tax for the six months ended September 30, 2024, stood at Rs 2,001 crore compared to Rs 1,442 crore, registering a growth of 39% YoY.
  • The Bank’s RoA stood at 2.3% and RoE at 17.3% for the half year (annualised basis)
  • As of Sept 30, 2024, the Bank’s capital adequacy ratio including profits stood at 15.6% as against a regulatory requirement of 11.5%.

Ratan Kumar Kesh, MD & CEO, Bandhan Bank, said: "Bandhan Bank's strong performance in the second quarter reflects the momentum in quality growth with our focus on effective risk management and compliance. Our success is anchored in the trust of our customers and the dedication of our employees. By focusing on innovation in technology, refining our processes, and enhancing products and people capabilities, we are well-positioned to drive the next phase of growth for Bandhan Bank 2.0."

Result PDF

Bandhan Bank announced Q1FY25 results:

  • The Bank’s net revenue as of Q1FY25 was Rs 3,533 crore as compared to Rs 2,876 crore in Q1FY24; a growth of 23%
  • Net interest income (NII) as of Q1FY25, stood at Rs 3,005 crore compared to Rs 2,491 crore as of Q1FY24, representing a growth of 21%.
  • Net Interest Margin (NIM) for the quarter was 7.6%, stable QoQ.
  • The cost-to-income ratio for the quarter was 45% compared to 48% in the previous quarter
  • Operating Profit was Rs 1,941 crore in Q1FY25 compared to Rs 1,562 crore in Q1FY24, up 24%
  • The provisions (other than tax) & contingencies charged to the Profit and Loss for Q1FY25 were at Rs 523 crore compared to Rs 602 crore in Q1FY24
  • The profit after tax for the quarter ended June 30, 2024, stood at Rs 1,063 crore compared to Rs 721 crore, registering a growth of 47% YoY; Bank’s RoA stood at 2.5% and RoE at 18.8% for the quarter (annualised basis) 

Speaking on the Bank’s performance, Ratan Kumar Kesh, MD & CEO, said, “During the first quarter of the year, the bank has achieved remarkable growth across key metrics. Our robust performance reflects our team's resilience and strategic agility amid challenging market conditions. Bandhan Bank's foundation is built on the trust of its customers and the unwavering commitment of its employees. These cornerstones, along with a focus on technology, process, product and people will not only sustain our growth momentum but also pave the way for even stronger performance in the future."

Result PDF

Bandhan Bank announced Q3FY24 results:

  • Net Interest Income: Increased to Rs 2,525 crore in Q3FY24 from Rs 2,081 crore in Q3FY23, marking a growth of 21%.

  • Loan Portfolio: Stands at Rs 1.16 lakh crore, showing a YoY growth of 18.6%.

    • Retail Loan books (excluding housing finance books) grew by 70% YoY.
    • Commercial Banking book grew by 60% YoY.
    • Housing Finance book grew by more than 6% YoY.
    • EEB Book exhibited a growth of 10% YoY, with a 7.5% QoQ growth.
  • Total Deposits: Amounted to Rs 1.17 lakh crore, growing by 14.8% YoY, surpassing the industry average growth.

    • CASA deposits reached Rs 42,413 crore.
    • CASA ratio stood at a robust 36.1% in Q3FY24.
  • Profit After Tax (PAT): Stood at Rs 733 crore in Q3FY24 compared to Rs 291 crore in Q3FY23, registering a growth of 152% YoY.

  • Gross Non-Performing Assets (GNPA): Improved to 7.0% as of December 31, 2023, from 7.3% as of September 30, 2023.

    • Collection efficiency for the bank remained steady and healthy at 98% for the December 2023 quarter.
    • Collection efficiency for the EEB book also stood at 99% for the December 2023 quarter.
    • Collection efficiency for Assam & WB remained at a healthy 99%.
  • Provision Coverage Ratio (PCR): Stood at 70% as of December 31, 2023.

  • Net Interest Margin (NIM%): Stood at 7.2% in Q3FY24, an improvement from 6.5% in Q3FY23, and stable from 7.2% in Q2FY24.

  • Return on Assets (ROA) & Return on Equity (ROE): Annualized for Q3FY24 stands at 1.9% and 14% respectively.

  • Capital to Risk (Weighted) Assets Ratio (CRAR): Including 9MFY24 profits, stands at 19.8%.

Commenting on the performance, Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank said: “The growth in this quarter across various segments of business is very encouraging. The bank has demonstrated stability across various key performance indicators despite a tough operating environment. With the recent CBS migration and the new talent in the Bank’s leadership, I am confident that we will continue the growth momentum. Looking ahead, we stand poised for growth, leveraging our robust foundation to seize emerging opportunities and continue serving the nation’s population with services that they truly deserve.”

Result PDF

Bandhan Bank announced Q2FY24 results:

1. Financial Performance:
- Total deposits grew by 12.8% YoY to Rs 1.12 lakh crore.
- CASA ratio improved to 38.5% in Q2FY24.
- Net Interest Income grew to Rs 2,443 crore.
- Profit after tax (PAT) grew by 245% YoY to Rs 721 crore.

2. Loan Portfolio:
-Loan portfolio stands at Rs 1.08 lakh crore, growing by 12.3% YoY
- Retail loan books (other than housing finance) grew by 80% YoY.
- Commercial banking book grew by 65% YoY.
- Housing finance book grew by 4% YoY.

3. Asset Quality:
- Gross NPA remained steady at 7.3%.
- Collection efficiency for the bank improved to 98%.
- PCR at 70% as of September 30, 2023.

4. Geographical Distribution:
- Banking outlets present in 35 of states and union territories in India.
- Focus on serving the rural and underbanked population.
- Diversifying presence with non-east regions contributing over 50%.

5. Customer Base and Network:
- Added nearly 1 million customers in Q2FY24, totaling 31.7 million customers.
- Network consists of 1,621 branches and 4,598 banking units.

Commenting on the performance, Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank said, “The performance in this quarter is encouraging for the bank. We have completed a significant IT transformation project which will not only boost customer experience but also our capabilities, resulting in further growth. The Bank has also made significant progress in diversifying its asset book geographically as well as in terms of product mix. We are already seeing signs of an uptick in growth and are confident that the Bank is on the expected growth trajectory.”

 

 

Result PDF

Bandhan Bank announced Q1FY24 results:

  • Deposits grew 16.6% YoY at Rs 1.08 lakh crore
  • Loan portfolio (on book off book TLTRO PTC) grew 6.7% YoY at Rs 1.03 lakh crore
  • Total Credit Cost as on June 30, 2023, was 2.4% compared 2.7% as on June 30, 2022.
  • CASA deposits at Rs 39,077 crore; CASA ratio at healthy 36%
  • GNPA as on June 30, 2023, improved to 6.76% against 7.25% as on June 30, 2022
  • Net NPAs as on June 30, 2023, stood at 2.18% against 1.92% as on June 30, 2022
  • Net Interest Income at Rs 2,491 crore in Q1FY24 vs Rs 2,514 crore in Q1FY23
  • PCR% at 69.2% as on June 30, 2023.
  • Capital Adequacy Ratio (CRAR) at 19.8%; Tier I at 18.8%; CRAR (including profit) at 20.5%
  • NIM stable QoQ, stands at 7.3%
  • ROA & ROE (annualized) for Q1FY24 stands at 1.9% and 14.4%, respectively.
  • The Commercial Banking book grew by 78% YoY
  • Retail Loan books other than housing finance book grew by 86.5%
  • Housing Finance Book grew by 9.5%
  • Our collection efficiency for the EEB book stands at 98%, However, Assam & WB collection efficiency is at 99%
  • In line with our diversification agenda, banks’ presence outside of the East region is more than 50%

Commenting on the performance, Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank said: “This quarter’s performance indicates that the bank is on a stable growth path. The Bank has also made significant progress in diversifying its asset book. Our investment in people, Technology, IT & expansion over the last few quarters will surely improve the performance of the bank.”

Result PDF

Bandhan Bank announced Q4FY23 & FY23 results:

  • Q4FY23:
    • Profit after Tax (PAT) for Q4FY23 grew by 177.7% to Rs 808 crore as against Rs 291 crore sequentially
    • Net Interest Income (NII) for Q4FY23 grew by 18.8% to Rs 2,472 crore vs Rs 2,080 crore in Q3FY23
    • Non-interest income declined by 39% to Rs 629 crore for Q4FY23 against Rs 1,033 crore in Q3FY23. Other income in Q3FY23 includes Rs 414 crore of income on sale of technical write-off portfolio to ARC
    • Operating Profit for Q4FY23 decreased by 6.6% to Rs 1,796 crore against Rs 1,922 crore in Q3FY23
    • Net Interest Margin (annualised) for Q4FY23 stood at 7.3% against 6.5% in Q4FY22
    • Loan portfolio (on book off book TLTRO PTC) grew ~10% YoY
    • Deposits grew ~12% YoY
    • CASA ratio at 39.3% against 41.6% YoY and 36.4% QoQ
    • ROA & ROE (annualized) for Q4FY23 stands at 2.2% and 17% respectively
  • FY23:
    • Net Interest Income (NII) for FY23 grew by 6.3% to Rs 9,260 crore as against Rs 8,714 crore in FY22
    • Non-interest income declined by 12.5% to Rs 2,469 crore for FY23 against Rs 2,823 crore in FY22
    • Operating profit for FY23 decreased by 11.5% to Rs 7,091 crore against Rs 8,013 crore in FY22
    • Net Interest Margin (annualised) for FY23, stood at 7.2% against 8.2% in FY22
    • Total advances (on book off book TLTRO PTC) grew by 10% to Rs 1,09,122 crore as on March 31, 2023, against Rs 99,338 crore as on March 31, 2022
    • Total deposits increased by 12% to Rs 1,08,069 crore as on March 31, 2023, as compared to Rs 96,331 crore as on March 31, 2022
    • Gross NPAs as on March 31, 2023, is at Rs 5,299 crore (4.9%) against Rs 6,380 crore (6.5%) as on March 31, 2022
    • Net NPAs as on March 31, 2023 stood at Rs 1,228 crore (1.2%) against Rs 1,564 crore (1.7%) as on March 31, 2022
    • GNPA as on March 31, 2023, at 4.9% against 6.5% as on March 31, 2022
    • Net NPAs as on March 31, 2023, at 1.2% against 1.7% as on March 31, 2022
    • Capital Adequacy Ratio (CRAR) at 19.8%; Tier I at 18.7%
    • PCR improved to 76.8% as on March 31, 2023, from 75.5% as on March 31, 2022
    • Board has proposed a dividend of Rs 1.50 per share

Speaking on the results, Chandra Shekhar Ghosh, MD & CEO, said, “The bank registered good growth in the fourth quarter with EEB business coming back to normalcy. We are building new capabilities to unlock greater business impact. Our new business streams such as Commercial Vehicle Lending, Loans against Property for Business, Government Business Operations, among others, will add to the top line as well as the bottom line over the next few quarters. We have been fortunate to earn the trust of more than 3 crore Indians and we will endeavor to continue to be their trusted partner in their journey to achieve their dreams.”

 

 

Result PDF

 Bandhan Bank announced Q3FY23 results:

  • Key Highlights:
    • Loan portfolio (on book off book TLTRO PTC) grew 11.1% YoY
    • Deposits grew 21.0% YoY
    • GNPA in Q3FY23 improved to 7.2%, against 10.8% in Q3FY22
    • Net NPAs in Q3FY23 improved to 1.9%, against 3.0% in Q3FY22
    • PCR % at 75.4% in Q3FY23, against 74.4% in Q3FY22
    • Capital Adequacy Ratio (CRAR) at 19.1%; Tier I at 18.1%; CRAR (including profit) at 20.6%
    • PPOP for Q3FY23 increased 23.8% QOQ from Rs 1,553 crore in Q2FY23 to Rs 1,922 crore in Q3FY23
    • Cost to income ratio stands at 38.3% in Q3FY23, as against 41.8% in Q2FY23.
  • Q3FY23:
    • Total Advances (on book off book TLTRO PTC) grew by 11.1% to Rs 97,787.1 crore as on Q3FY23, against Rs 87,997.7 crore as on Q3FY22
    • Total deposits increased by 21.0% to Rs 1,02,283.2 crore in Q3FY23, as against to Rs 84,499.8 crore in Q3FY22.
    • Gross NPAs in Q3FY23 at Rs 6,964.8 crore (7.2%), against Rs 6,853.9 crore (7.2%) as on Q3FY23, and against Rs 9,441.6 crore (10.8%) in Q3FY22.

Speaking 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 favourable, the bank is well poised for its next phase of growth.

Banking outlets as on December 31, 2022, stood at 5,723. The network consists of 1,250 branches, 4,473 banking units as against 1,176 branches and 4,450 banking units as on December 31, 2021. During the quarter, the number of employees at the bank has gone up from 64,078 to 66,114."

Result PDF

Bandhan Bank announced Q2FY23 results:

  • Loan portfolio (on book off book TLTRO PTC) grew 17.4% YoY
  • Deposits grew 21.3% YoY
  • CASA grew 10.9% YoY; CASA ratio at 40.8% against 44.6% YoY
  • GNPA as on September 30, 2022 improved to 7.19% against 10.8% as on September 30, 2021
  • Net NPAs as on September 30, 2022 improved to 1.86% against 3.04% as on September 30, 2021
  • PCR % at 75.5% as on September 30, 2022 against 74.1% as on September 30, 2021
  • Capital Adequacy Ratio (CRAR) at 19.4%; Tier I at 18.4% ; CRAR (including profit) at 20.5%
  • NIM stands at 7.0%
  • ROA & ROE (annualized) for Q2 FY 23 stands at 0.6% and 4.5% respectively.
  • Net Interest Income (NII) for the quarter grew by 13.3% to Rs 2,193.0 crore as against Rs 1,935.4 crore in the corresponding quarter of the previous year.
  • Total Advances (on book off book TLTRO PTC) grew by 17.4% to Rs 95,834.9 crore as on September 30, 2022 against Rs 81,661.2 crore as on September 30, 2021
  • Total Deposits increased by 21.3% to Rs 99,365.8 crore as on September 30, 2022 as compared to Rs 81,898.3 crore as on September 30, 2021.
  • Gross NPAs as on September 30, 2022 is at Rs 6,853.9 crore (7.2%) against Rs 6,967.5 crore (7.3%) as on June 30, 2022 and against Rs 8,763.6 crore (10.8%) as on September 30, 2021.

Commenting on the performance, Mr. Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank said: “As we enter the H2 FY23, the focus shifts on growth and with pandemic related stress is phasing out, we look forward to end the FY23 on a high note.”

 

Result PDF

Bandhan Bank Announced Q1FY23 Result :

  • Bandhan Bank Net Profit jumps 138% to Rs 886.5 crore in Q1 FY23, From Rs 373.1 crore in Q1 FY22
  • Loan portfolio (on book off book TLTRO PTC) grew 20.3% YoY
  • Deposits grew 20.3% YoY
  • CASA grew 21.1% YoY; CASA ratio at 43.2% against 42.9% YoY
  • GNPA as on June 30, 2022 improved to 7.25% against 8.18% as on June 30, 2021
  • Net NPAs as on June 30, 2022 improved to 1.92% against 3.29% as on June 30, 2021
  • PCR % at 74.9% as on June 30, 2022 against 61.8% as on June 30, 2021
  • Capital Adequacy Ratio (CRAR) at 19.4%; Tier I at 18.3% ; CRAR (including profit) at 20.4%
  • NIM stands at 8.0%
  • ROA & ROE (annualized) for Q1 FY 23 stands at 2.5% and 20% respectively.
  • Net Interest Income (NII) for the quarter grew by 18.9% to Rs 2,514.4 crore as against Rs 2,114.0 crore in the corresponding quarter of the previous year.
  • Total Advances (on book off book TLTRO PTC) grew by 20.3% to Rs 96,649.7 crore as on June 30, 2022 against Rs 80,356.9 crore as on June 30, 2021
  • Total Deposits increased by 20.3% to Rs 93,057.0 crore as on June 30, 2022 as compared to Rs 77,335.5 crore as on June 30, 2021.
  • Gross NPAs as on June 30, 2022 is at Rs 6,967.6 crore (7.3%) against Rs 6,380.0 crore (6.5%) as on March 31, 2022 and against Rs 6,440.4 crore (8.2%) as on June 30, 2021

Commenting on the performance, Mr. Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank said: “With Asset Quality and Credit Cost stabilizing, our focus in FY 23 will be to grow the Balance Sheet and focus on product and geographic diversification as per Bank’s strategy.”

 

Result PDF

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