The lender's Q2 FY25 PAT up 30% YoY, at Rs 937 crore
FinTech BizNews Service
Mumbai, 25 October, 2024: The Board of Directors of Bandhan Bank Limited approved the Bank’s financial
results for the quarter and six months ended Sept 30, 2024, at its meeting held in Kolkata on Friday, October 25,
2024. The statutory auditors have reviewed the financial statements for the quarter ended Sept 30, 2024.
FINANCIAL RESULTS
• Deposits grew 27% YoY reaching Rs.1.43 lakh crore as of end-Sept 2024
• Gross advances grew 21% YoY to Rs.1.31 lakh crore as of September 2024
• GNPA at 4.7% in Q2 FY25 vs 7.3% a year ago, Net NPA stood at 1.3% in Q2 FY25 vs 2.3% a
year ago
• Profit After Tax for Q2 FY25 stood at Rs. 937 crore and for H1FY25 at Rs.2,001 crore.
Financials for the Half Year ended Sept 30, 2024
The Bank’s net revenue as of H1 FY25 was Rs.7,075 crore as compared to Rs.5,859 crore in H1 FY24;
a growth of 21%
Net interest income (NII) as of H1 FY25, stood at Rs. 5,953 crore compared to Rs. 4,934 crore as of
Q2 FY24; a growth of 21%
Operating Profit was Rs.3,796 crore in H1 FY25 compared to Rs.3,146 crore in H1 FY24, up 21%
The provisions (other than tax) & contingencies charged to the Profit and Loss for H1 FY25 were at
Rs.1,129 crore compared to Rs. 1,238 crore in H1 FY24
The profit after tax for the six months ended September 30, 2024, stood at Rs.2,001 crore compared
to Rs 1,442 crore, registering a growth of 39% YoY;
The Bank’s RoA stood at 2.3% and RoE at 17.3% for the half year (annualised basis)
As of Sept 30, 2024, the Bank’s capital adequacy ratio including profits stood at 15.6% as against a
regulatory requirement of 11.5%.
Financials for the quarter ended Sept 30, 2024
The Bank’s net revenue as of Q2 FY25 was Rs.3,543 crore as compared to Rs.2,984 crore in Q2 FY24;
a growth of 19%
Net interest income (NII) as of Q2 FY25, stood at Rs.2,948 crore compared to Rs.2,443 crore as of
Q2 FY24, representing a growth of 21%.
Net Interest Margin (NIM) for the quarter was 7.4% compared to 7.2% in Q2 FY24
Operating Profit was Rs.1,855 crore in Q2 FY25 compared to Rs.1,583 crore in Q2 FY24, up 17%
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 Q2 FY24
The profit after tax for the quarter ended Sept 30, 2024, stood at Rs.937 crore compared to Rs 721
crore, registering a growth of 30% YoY; Bank’s RoA stood at 2.1% and RoE at 15.8% for the quarter
(annualised basis)
Asset Quality
The collection efficiency for EEB loans was marginally lower at 98.1% for Q2 FY25
The bank's Gross Non-Performing Assets (GNPA) has improved YoY to 4.7% in Q2 FY25 compared to
7.3% in Q2 FY24
Net NPA improved to 1.3% in Q2 FY25 vs 2.3% in Q2 FY24
Provision Coverage Ratio as of Sept 30, 2024, is 73.5% vs. 70% in the previous year.
Deposits
As of Sept 30, 2024, total deposits stood at Rs.1.43 lakh crore as against Rs.1.12 lakh crore in the
previous year – a growth of 27% YoY and 7% QoQ
CASA Deposits stood at Rs.47,283 crore and CASA Ratio stood at 33.2%.
CASA + Retail TD to total deposit ratio stands at 68%
Advances
As of Sept 30, 2024, Gross Advances stood at Rs.1.31 lakh crore as against Rs.1.08 lakh crore in the
previous year – a growth of 21% YoY and 4% QoQ
On a YoY basis, Retail book (other than housing) grew 92%, Commercial Banking grew 40%, EEB
grew 11% and the Housing book showed a growth of 17%.
Distribution Network
The Bank’s distribution network spans nearly 6,300 outlets The Bank added 7 lakh customers, during
the quarter and current customers stand at over 3.50 crore customers. The Bank currently has
nearly 80,000 employees.
Speaking on the Bank’s performance, 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."
