Today Private sector lender Bandhan Bank has declaterd its quarter 4 results. Company has reported Net interest income (NII) of the lender stood at Rs 2,866 crore compared to Rs 2,472 crore last year, growing by 16%. The net interest margin (NIM) for the quarter was 7.6 percent for the full year versus 7.3 percent last year.
Bank has reported a net profit of Rs 54.62 crore for the quarter that ended March 31, 2024, which was down from Rs 808.29 crore reported by the lender in the year-ago period. The fall in profit after tax (PAT) could be attributed to higher provisions reported in Q4FY24 at Rs 1,774 crore compared to Rs 735 crore in Q4 FY23.
The bank’s gross non-performing assets (NPA) stood at 3.8 percent versus 4.9 percent last year. And the net NPA of the bank stood at 1.1 percent compared to 1.2 percent. Provision Coverage Ratio as of March 31, 2024, is 71.8 percent.
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