Bandhan Bank share price closed higher in trade today after the private sector lender reported a 99.28 per cent growth in its Q2 net profit at Rs 971.79 crore compared to Rs 487.65 crore in the same quarter last year. Bandhan Bank share price ended 2.62% or 14.55 points higher at Rs 570.45 compared to the previous close of Rs 555.90 on BSE. The large cap stock rose up to 5.41% to Rs 586 intra day on BSE.
It has gained 45.3% in last one year and risen 3.88% since the beginning of this year. On NSE, the stock closed 2.75% higher at Rs 571 compared to the previous close of Rs 555.70. During the day, it hit an intra day high of 585.80.
However, the figures for this quarter are not comparable with the corresponding figures of previous year due to the amalgamation with Gruh Finance, Bandhan Bank said in a filing to the Bombay Stock Exchange.
The bank's net interest income (NII), or the core income a bank earns by giving loans, grew by 41.84 per cent to Rs 1,529 crore in Q2FY20 as against Rs 1,078 crore in Q2FY19. Net interest margin (NIM) stood at 8.2 per cent compared to 10.2 per cent in corresponding quarter of the previous year.
The other income (non-interest income) increased by 56.96 per cent to Rs 361 crore for the quarter ended September 30, 2019 against Rs 230 crore in the year-ago period. Operating profit for July-September quarter rose by 49.66 per cent to Rs 1,308 crore versus Rs 874 crore in the same quarter last year.
On the asset front, Bandhan Bank's gross non-performing assets (NPAs) ratio increased to 1.76 per cent versus 1.29 per cent in the year-ago quarter. Net NPA, however, declined to 0.56 per cent as compared to 0.69 per cent in the corresponding quarter last year.
Current Account Savings Accounts (CASA) ratio of the bank stood at 33 per cent of total deposit (excluding GRUH deposits at 35 per cent), compared to 36.90 per cent in the corresponding period last year. A lower CASA ratio means lower portion of the deposits of the bank has come from current and savings deposit.
Total advances (on book plus off book) grew by 92.33 per cent Y-o-Y to Rs 64,186 crore, while total deposits increased by 49.26 per cent Y-o-Y to Rs 49,195 crore as on September 30, 2019. As on September 30, the bank had banking outlets stood at 4,220, which consists of 1,000 branches and 3,025 doorstep service centers and 195 GRUH Centers as against 938 branches and 3,007 doorstep service centers.
Total number of ATMs stood at 485 as on September 30, 2019 against 476 as on September 30, 2018. During the year, the number of employees of the bank has gone up from 30,431 to 35,468.