Bandhan Bank reports 20% rise in Q4 profit at Rs 388 cr on the back of healthy interest, fee-based income

New Delhi: Private lender Bandhan Bank on Friday reported a 20.3 percent rise in net profit at Rs 388 crore for the last quarter of 2017-18 fiscal on the back of healthy interest as well as non-interest income.

The bank had registered a net profit of Rs 322 crore in the January-March quarter of 2016-17 fiscal.

The net interest income (NII) for the quarter grew by 25.2 percent to Rs 863 crore as against Rs 689 crore in the same quarter year earlier. Non-interest income jumped by 57.4 percent to Rs 203 crore as against Rs 129 crore, the bank said in a regulatory filing.

Total income in the January-March period of 2017-18 increased to Rs 1,553.97 crore, up by 29 percent from Rs 1,207.77 crore in same quarter of 2016-17.

For the entire 2017-18 fiscal, the net profit grew by 21 percent to Rs 1,346 crore against Rs 1,112 crore in 2016-17.

Interest income stood at Rs 3,032 crore for the year, up 26.1 percent. Non-interest income shot up by 71.8 percent to Rs 706 crore.

 Bandhan Bank reports 20% rise in Q4 profit at Rs 388 cr on the back of healthy interest, fee-based income

Representational image. Reuters

Total income during the fiscal rose to Rs 5,508.48 crore, as against Rs 4,320.12 crore in preceding fiscal.

On the asset front, there was an uptick in bad loans with gross non-performing assets (NPAs) rising to 1.25 percent of the gross advances as on March 31, 2018 as against 0.51 percent by same time year earlier.

In absolute value, the gross NPAs were Rs 373.14 crore, compared with Rs 86.26 crore.

Net NPAs increased to 0.58 percent (Rs 172.90 crore) of the net advances by end of March 2018, versus 0.36 percent (Rs 61.17 crore).

The Board of Directors at their meeting held on Friday recommended a dividend of Re 1 per equity share out of the net profits for the year ended 31 March, 2018, subject to approval of the shareholders, the bank said.

Commenting on the performance, Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank said: "The year 2017-18 has been a watershed year for the bank. We had successful initial public offering (IPO) which was subscribed 14.6 times. We will continue to strive to maintain the quality of assets, growth in assets and profitability."

During the year ended 31 March, 2018, the bank successfully raised capital of Rs 3,662 crore through initial public offer by issuing 97,663,910 equity shares, Bandhan Bank said.

Shares of the bank traded 3.86 per cent higher at Rs 513.90 on BSE.

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Updated Date: Apr 27, 2018 15:19:18 IST