Bandhan Bank Q4 Results Highlights: Net interest income at Rs 2,866 crore, net interest margin up 40 bps sequentially; catch all key takeaways here
Bandhan Bank Q4 FY24 Results Highlights: Kolkata-headquartered Bandhan Bank has staged a mixed financial performance for the final three months of FY24. Read on to learn all about the key highlights of Bandhan Bank's financial performance in the quarter ended March 31, 2024 (Q4 FY24).
Bandhan Bank Q4 FY24 Results Highlights: Kolkata-headquartered Bandhan Bank has staged a mixed financial performance for the final three months of FY24. Here are key takeaways from the lender's earnings report for the January-March period (Q4 FY24):
Bandhan Bank Q4 NII grows 16%
Bandhan Bank reported its financial results for the fourth and final quarter of FY24 post-market hours on Friday, May 17.
Bandhan Bank Q4 FY24 Results: PAT at Rs 55 crore vs analysts' estimate of Rs 890 crore
Bandhan Bank registered a net profit of Rs 54.6 crore for the March quarter, down 93.2 per cent compared with the corresponding period a year ago. Its net interest income (NII)—or the difference between the interest earned and the interest paid—increased about 16 per cent on a year-on-year basis to Rs 2,866.3 crore for the quarter under review, according to a regulatory filing.
According to Zee Business research, Bandhan Bank was estimated to log a fourth-quarter net profit of Rs 890 crore and NII of Rs 2,710 crore.
Bandhan Bank Q4 FY24 Results: NIM improves by 40 bps vs Q3, better than analysts' estimate
Bandhan Bank's net interest margin (NIM)—a key measure of profitability for financial institutions—improved by 40 basis points sequentially to 7.6 per cent, higher than analysts' expectations.
Zee Business analysts had pegged Bandhan Bank's March-quarter NIM at 7-7.2 per cent.
Bandhan Bank Q4 FY24 Results: Provisions increase 2.4x
Bandhan Bank logged a 2.4 times increase in provisions to Rs 1,774.3 crore for the March quarter compared with the year-ago period.
Its slippages—or new bad loans—declined 8.9 per cent to Rs 1,020 crore for the quarter under review.
Bandhan Bank Q4 FY24 Results: Asset quality improves
Bandhan Bank's gross non-performing assets (GNPAs) stood at 3.84 per cent of its total loans in the March quarter as against 7.02 per cent in the previous three months, according to the filing.
Its net non-performing assets (NNPA) came down to 1.11 per cent of its total loans in Q4 from 2.21 per cent in Q3.
Zee Business analysts had estimated the lender's GNPAs at 6.1-6.3 per cent and NNPAs at 1.9-2 per cent of total loans.
Bandhan Bank Q4 FY24 Results: Re 1.5/share dividend declared
The Bandhan Bank board declared a dividend of Re 1.5 per share for the financial year.
How Bandhan Bank, a Nifty Bank stock, reacted to Q4 FY24 results
Bandhan Bank shares rose 0.9 per cent higher at Rs 182.9 apiece on BSE as the market opened for special trading activity on Saturday, May 18.
As of May 22, Bandhan Bank shares are down 27.5 per cent in a year, in sharp contrast to a 23 per cent rally in the headline Nifty50 index and an 8.7 per cent gain in the Nifty Bank gauge.