Bandhan Bank Q2 FY25 results: Profit jumps 30% to Rs 937 crore; interest earning up 22%

Bandhan Bank on Friday reported a 29.99 per cent year-on-year (YoY) rise in its second quarter (Q2) profit for financial year 2024-25 (FY25). During the quarter under review, profit came at Rs 937.45 crore as against Rs 721.17 crore in the year-ago period.

The Kolkata-based private lender earned an interest of Rs 5,499.81 crore in Q2 FY25, up 22.44 per cent from Rs 4,491.93 crore in the corresponding period last year.

The bank said it net revenue as of Q2 FY25 was Rs 3,543 crore as compared to Rs 2,984 crore in Q2 FY24, representing a growth of 19 per cent. Net interest income (NII) in September 2024 quarter moved to Rs 2,948 crore from Rs 2,443 crore in Q2 FY24, reflecting a 21 per cent uptick.

Net interest margin (NIM) for the quarter was 7.4 per cent compared to 7.2 per cent in Q2 FY24.

Operating profit was Rs 1,855 crore in Q2 FY25 compared to Rs 1,583 crore in Q2 FY24, up 17 per cent. The provisions (other than tax) & contingencies charged to the profit and loss for Q2 FY25 were at Rs 606 crore compared to Rs 636 crore in the same period last year.

Net non-performing asset (NPA) improved to 1.3 per cent in Q2 FY25 from 2.3 per cent in September 2023 quarter.

As of September 2024, total deposits stood at Rs 1.43 lakh crore as compared to Rs 1.12 lakh crore in the previous year, showing a YoY growth of 27 per cent. Gross advances stood at Rs 1.31 lakh crore, up 21 per cent YoY.

Ratan Kumar Kesh, MD & CEO, said, "Bandhan Bank's strong performance in the second quarter reflects the momentum in quality growth with our focus on effective risk management and compliance. Our success is anchored in the trust of our customers and the dedication of our employees. By focusing on innovation in technology, refining our processes, and enhancing products and people capabilities, we are well-positioned to drive the next phase of growth for Bandhan Bank 2.0."

In the last few years of operations, Bandhan Bank said it has spread its presence to 35 of the 36 states and union territories in India with nearly 6,300 banking outlets.

On the stock-specific front, shares of Bandhan Bank plunged 6.84 per cent to settle at Rs 168.30.