Kolkata, Jul 26 (PTI) Private lender Bandhan Bank on Friday reported a 47 per cent jump in its net profit to Rs 1,063 crore in the first quarter of financial year 2024-25.
The bank had reported a net profit of Rs 721 crore during the same quarter of the previous fiscal.
Bandhan Bank's interim MD & CEO Ratan Kumar Kesh said the operating profit during the quarter under review stood at Rs 1,941 crore, which was a 24 per cent growth over Rs 1,562 crore in the year-ago period.
Net interest income quarter grew 24 per cent to Rs 3,005 crore during the quarter from Rs 2,491 crore in the same quarter of 2023-24.
Deposits grew 23 per cent to reach Rs 1.33 lakh crore, while gross advances grew 22 per cent to Rs 1.26 lakh crore, the bank said.
Gross NPA fell to 4.2 per cent as compared to 6.8 per cent in the year-ago quarter. Net NPA was at 1.1 per cent as compared to 2.2 per cent in the same period of the previous fiscal.
Kesh said the bank is on track to increase the proportion of secured loans in the overall portfolio.
He said the bank was fully cooperating with the CGFMU (credit guarantee funds for micro units) audit, which is nearing its closure satisfactorily.
Fresh slippages during the quarter that ended on June 30 stood at Rs 891 crore as compared to Rs 1,017 crore in the year-ago period.
The bank is putting in place a robust risk framework, Kesh said.
The collection efficiency ratio for micro loans was at 98.7 per cent during the quarter, while the capital adequacy ratio stood at 15.7 per cent against the regulatory requirement of 11.5 per cent.
Kesh was appointed the interim MD & CEO after the bank's founder Chandra Sekhar Ghosh retired on July 9.