Bandhan Bank Records 47.5% rise in Q1 Net Profit On Higher Interest
Bandhan Bank Ltd witnessed a powerful rise of 47.5% to Rs 481 crore in its quarterly profit because of the higher other income and net interest income. The shares of the bank rose to a record as its quarterly profit increased and asset quality remained stable.
Along with this, the net interest income, or the core income of the bank, rose 40% to Rs 1,037 crore. In the previous quarter, the Kolkata-based bank posted a net profit of Rs 327 crore. Gross bad loans as a percentage of total loans were recorded at 1.26% in this quarter, in comparison with 1.25% in the previous quarter and 0.93% a year ago.
“The start of FY19 has been promising with advances growing year-on-year by 52%, overcoming the seasonality we normally witness during the first quarter. We will strive to maintain growth an...