Due to an improvement in core revenue, private sector Bandhan Bank reported on Friday a more than two-fold increase in net profit for the third quarter that ended in December 2023, coming in at Rs 733 crore.
The new generation bank, situated in Kolkata, reported a net profit of Rs 291 crore for the previous year.
According to a regulatory filing, the bank's overall income rose from Rs 4,840.94 crore to Rs 5,210 crore in the most recent quarter ending in December of last year.
In the third quarter of the previous fiscal year, interest income was Rs 3,808 crore, but it improved to Rs 4,665 crore.
From Rs 2,080 during the same time last year to Rs 2,530 crore, net interest income increased.
The bank saw an improvement in asset quality, with gross non-performing assets (NPAs) falling to 7% from 7.2% at the end of the October–December quarter of the previous fiscal year.
Nonetheless, net non-performing assets (NPAs) rose to 2.2% from 1.9% the year before. Compared to Rs 1,541 crore in FY23, provision and contingencies were almost reduced to Rs 684 crore.
But compared to 19.10 percent in the previous quarter, the capital adequacy ratio fell to 17.86 percent in the December quarter.
