Bandhan Bank declares final dividend of 15% - check details

Bandhan Bank Dividend: Bandhan Bank on May 19, Friday, released its March quarter numbers (Q4FY23). The lender also announced a final dividend of 15 per cent. The lender said, "The Board has recommended a dividend of Rs 1.50 (Rupee One and Fifty Paisa) per equity share having face value of Rs 10 each (i.e.15 %) from the profits of the Bank for the Financial Year ended March 31, 2023, subject to the approval of shareholders at the ensuing annual general meeting ('AGM'). The dividend on equity shares will be paid/dispatched after the same is approved by the shareholders at the ensuing AGM, it said.

As regards March quarter performance, the lender in its earnings release informed that its profit after tax (PAT) during the three-month period (January-March) grew by 177.7 per cent to Rs 808 crore as against Rs 291 crore on a sequential basis. Net Interest Income (NII) for the quarter grew by 18.8 per cent to Rs 2,472 crore as against Rs 2,080 crore in Q3 FY23. Non-interest income declined by 39 per cent to Rs 629 crore for the quarter ended March 31, 2023, against Rs 1,033 crore in Q3 FY23. Other income in Q3FY23 includes Rs 414 crore of income on the sale of a technical write-off portfolio to ARC. Operating Profit for the quarter decreased by 6.6 per cent to Rs 1,796 crore against Rs 1,922 crore in Q3 FY23.

Net Interest Margin (annualised) for the quarter ended March 31, 2023, stood at 7.3 per cent against 6.5 per cent in the quarter ended December 31, 2022. 

Speaking on the results, Chandra Shekhar Ghosh, MD & CEO, said, “The Bank registered good growth in the fourth quarter with Emerging Entrepreneurs Business (EEB) business coming back to normalcy. We are building new capabilities to unlock greater business impact. Our new business streams such as Commercial Vehicle Lending, Loans against Property for Business, and Government Business Operations, among others, will add to the top line as well as the bottom line over the next few quarters. We have been fortunate to earn the trust of more than 3 crore Indians and we will endeavour to continue to be their trusted partner in their journey to achieve their dreams.”

Source: Earnings release