Bandhan Bank: Bandhan Bank gains as loans and advances rise 11% to Rs 89,213 cr

Bandhan Bank: Bandhan Bank gains as loans and advances rise 11% to Rs 89,213 cr
Written by Publishing Team

NEW DELHI – Shares added 3 per cent in early trading on Wednesday after the private lender said its loans and advances grew by 11 per cent to around Rs 89,213 crore as of December 31, 2021. Loans and advances stood at Rs 80,255 crore in the year-ago period.

The bank’s shares rose to a high of Rs 262.40 against Rs 254.55 on the National Exchange.

Total deposits grew by 19 per cent year-on-year, to Rs.84,500 crore as of December 31, 2021, the bank told stock exchanges in its October-December provisional initial disclosures.

Current account savings account deposits grew 26 percent year-on-year to Rs.38,528 crore as of December 31, 2021, reports said.

CASA was 45.6 percent in October and December, up from 42.9 percent in the same period last year. The retail share of total deposits was reported to be 84 percent, up from 81 percent in October and December last year.

The private lender reported a loss of Rs 3,008.6 crore in July-September 2021 on massive provisions – worth over Rs 4,600 crore – for bad loans and restructured advances.

In the period from July to September of the previous financial year, Pandhan Bank announced a net profit of Rs 920 crore. Bandhan Bank’s net profit was Rs 373.1 crore in April-June 2021.

While detailing the July-September earnings, the bank’s senior management said it recognized the stress pool and proactively took additional provisions required such as meeting any contingency requirements.


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