Bandhan Bank
Bandhan Bank bounces back from Covid-19 setback, grows by over Rs. 200 cr in Q2 of 2022-23
Kolkata/IBNS: Bandhan Bank has witnessed a profit in the second quarter of 2022-2023 after registering a loss in the same quarter of the last fiscal year.
The Kolkata-based bank has registered a profit of Rs. 209.30 crore in the Q2 (Jul-Sept) of the ongoing fiscal year.
In the Q2 of the fiscal year 2021-2022, the bank had suffered a loss of Rs. 3,008.60 crore.
The net interest income for the second quarter of 2022-2023 grew by 13.3% to Rs. 2,193 crore as against Rs. 1,935.40 crore in the corresponding quarter of the previous year.
The total advances grew by 17.4% to Rs. 95.834.90 crore as opposed to Rs. 81,661.20 crore in the same quarter last year.
The total deposits have increased by 21.3% to 99,365.80 crore as on Sept 30, 2022 as compared to Rs. 81,898.30 crore as on Sept 30, 2021.
The gross NPAs as on Sept 30, 2022 is at Rs. 6,853.90 crore (7.2%) against Rs. 6,967.50 crore (7.3%) as on Jun 30, 2022 and against Rs. 8,763.60 crore (10.8%) as on Sept 30, 2021.
Commenting on the results, Bandhan Bank MD and CEO, Chandra Shekhar Ghosh, said, "The pre-Covid growth has returned in this quarter. So we are hopeful that the next two quarters will have the usual growth which we used to see before the pandemic."
"The repayment comes back with the resumption of regular business which was halted during the Covid-19 pandemic," Ghosh said, pointing out the prime reason behind the bank's rebound.
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