Bandhan Bank Q3 net rises 358 per cent at Rs 8589 crore
Kolkata Jan 21 PTI Net profit of MFI-turned-private lender Bandhan Bank increased 358 per cent at Rs 8589 crore during the third quarter of current fiscal registering a rise from Rs 6326 crore in the similar previous period MD and CEO of Bandhan Bank Chandra Sekhar Ghosh told reporters on the virtual mode on Friday that the quarter ending December has been a good one for the bank and growth has bounced back after the depressing first quarter of current fiscal In the second quarter of the current fiscal the bank reported a loss of Rs 3009 crore due to higher provisioning Ghosh said that collection efficiency CE numbers have grown on the whole which stood at 93 per cent at during Q3 While the CE in West Bengal is 97 per cent it is 96 per cent in Assam he said According to him the net interest margin NIM of the bank stood at 78 per cent while gross and net NPAs have both fallen The capital adequacy ratio at the end of December quarter stood at 20 per cent while provisioning coverage ratio was at 744 per cent During the quarter the bank had collected Rs 2500 crore from restructured loans Stress in the system is going down which will lead to improved GNPA levels he said The share of microfinance loans to overall portfolio during the period stood at 52 per cent Ghosh said that the bank is on track to reduce the share to 50 per cent by the end of the financial year Total business of the bank at the end of the quarter stood at Rs 172000 crore PTI dc KK KK KK
Kolkata Jan 21 PTI Net profit of MFI-turned-private lender Bandhan Bank increased 358 per cent at Rs 8589 crore during the third quarter of current fiscal registering a rise from Rs 6326 crore in the similar previous period MD and CEO of Bandhan Bank Chandra Sekhar Ghosh told reporters on the virtual mode on Friday that the quarter ending December has been a good one for the bank and growth has bounced back after the depressing first quarter of current fiscal In the second quarter of the current fiscal the bank reported a loss of Rs 3009 crore due to higher provisioning Ghosh said that collection efficiency CE numbers have grown on the whole which stood at 93 per cent at during Q3 While the CE in West Bengal is 97 per cent it is 96 per cent in Assam he said According to him the net interest margin NIM of the bank stood at 78 per cent while gross and net NPAs have both fallen The capital adequacy ratio at the end of December quarter stood at 20 per cent while provisioning coverage ratio was at 744 per cent During the quarter the bank had collected Rs 2500 crore from restructured loans Stress in the system is going down which will lead to improved GNPA levels he said The share of microfinance loans to overall portfolio during the period stood at 52 per cent Ghosh said that the bank is on track to reduce the share to 50 per cent by the end of the financial year Total business of the bank at the end of the quarter stood at Rs 172000 crore PTI dc KK KK KK
