Bandhan Bank Q2 FY25 Results: Net Profit Jumps 30% to ₹937 Crore, Beating Estimates
Shares of Bandhan Bank Ltd ended at ₹168.30, down by ₹12.35, or 6.84% on the BSE.
Private lender Bandhan Bank Ltd reported impressive financial results for the second quarter (Q2) of FY25, surpassing market expectations. Here's a detailed breakdown of the key financial metrics for the quarter ended September 30, 2024.
Key Financial Highlights (YoY Comparison):
- Net Profit: ₹937.4 crore, up 30% (Q2 FY24: ₹721.2 crore)
- CNBC-TV18 poll estimate: ₹888.7 crore
- Net Interest Income (NII): ₹2,948.2 crore, up 20.7% (Q2 FY24: ₹2,443.4 crore)
- Net Revenue: ₹3,543 crore, up 19% (Q2 FY24: ₹2,984 crore)
- Operating Profit: ₹1,855 crore, up 17% (Q2 FY24: ₹1,585 crore)
Asset Quality:
- Gross Non-Performing Assets (GNPA): 4.68% (Q1 FY25: 4.23%)
- In monetary terms: ₹6,105.3 crore (Q1 FY25: ₹5,304.4 crore)
- Net Non-Performing Assets (NNPA): 1.29% (Q1 FY25: 1.15%)
- In monetary terms: ₹1,620.2 crore (Q1 FY25: ₹1,396.4 crore)
- Provision Coverage Ratio (PCR): 73.5%, up from 70% a year ago
Capital Adequacy and Ratios:
- Return on Assets (RoA): 2.1% (H1 FY24: 2.3%)
- Return on Equity (RoE): 15.8% (H1 FY24: 17.3%)
- Capital Adequacy Ratio: 15.6%, above the regulatory requirement of 11.5%
Loan Growth and Collection Efficiency:
- Total Gross Advances: ₹1.31 lakh crore, up 21% YoY and 4% sequentially
- Retail Loans (Excluding Housing): Up 92% YoY
- Commercial Banking Loans: Up 40% YoY
- Emerging Entrepreneurs Business (EEB) Loans: Up 11% YoY
- Housing Loans: Up 17% YoY
- Collection Efficiency (EEB Loans): 98.1%, slightly down from previous quarters
Deposits and CASA Growth:
- Total Deposits: ₹1.43 lakh crore, up 27% YoY and 7% QoQ
- CASA Deposits: ₹47,283 crore
- CASA Ratio: 33.2%
- CASA + Retail Term Deposits (TD) to Total Deposits Ratio: 68%, reflecting strong retail base
Provisions and Contingencies:
- Provisions (Excluding Tax) for Q2 FY25: ₹606 crore, slightly down from ₹636 crore in Q2 FY24
- H1 FY25 Provisions: ₹1,129 crore, down from ₹1,238 crore in H1 FY24
Share Performance:
- Share Price at Market Close (October 25, 2024): ₹168.30, down by ₹12.35 or 6.84% on the BSE.
Despite strong financial performance, Bandhan Bank shares ended lower on the BSE after market hours. The results showcase robust growth across all lending segments, including retail, commercial, and housing loans, alongside steady deposit growth, marking a positive outlook for the bank's future performance.
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