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The Board of Directors of Bandhan Bank Ltd., at a meeting held in Kolkata today approved its Financial Results for the Quarter/Year ended March 31, 2023. The accounts have been subjected to “Audit” by the statutory auditors of the bank.
Key Highlights:
Ø Loan portfolio (on book + off book + TLTRO + PTC) grew ~10% YoY
Ø Deposits grew ~12% YoY
Ø CASA ratio at 39.3% against 41.6% YoY and 36.4% QoQ
Ø GNPA as on March 31, 2023, at 4.9% against 6.5% as on March 31, 2022
Ø Net NPAs as on March 31, 2023 at 1.2% against 1.7% as on March 31, 2022
Ø Capital Adequacy Ratio (CRAR) at 19.8%; Tier I at 18.7%
Ø NIM stands at 7.3% in Q4 FY23 vs 6.5% in Q3 FY23
Ø PCR improved to 76.8% as on March 31, 2023 from 75.5% as on March 31, 2022
Ø ROA & ROE (annualized) for Q4 FY 23 stands at 2.2% and 17% respectively
Ø Board has proposed dividend of ₹ 1.50 per share
Highlights for the Quarter ended March 31, 2023:
- Profit after Tax (PAT) for the quarter grew by 177.7% to ₹ 808 crore as against ₹ 291 crore sequentially
- Net Interest Income (NII) for the quarter grew by 18.8% to ₹ 2,472 crore as against ₹ 2,080 crore in Q3 FY23.
- Non-interest income declined by 39% to ₹ 629 crore for the quarter ended March 31, 2023 against ₹ 1033 crore in Q3 FY23. Other income in Q3FY23 includes ₹ 414 cr of income on sale of technical write-off portfolio to ARC
- Operating Profit for the quarter decreased by 6.6% to ₹ 1,796 crore against ₹ 1,922 crore in Q3 FY23.
- Net Interest Margin (annualised) for the quarter ended March 31, 2023 stood at 7.3% against 6.5% in quarter ended December 31, 2022.
Highlights for the Year ended March 31, 2023:
- Net Interest Income (NII) for the current year grew by 6.3% to ₹ 9,260 crore as against ₹ 8,714 crore in the previous year.
- Non-interest income declined by 12.5% to ₹ 2,469 crore for the year ended March 31, 2023 against ₹ 2,823 crore in the previous year ended March 31, 2022.
- Operating Profit for the year decreased by 11.5% to ₹ 7,091 crore against ₹ 8,013 crore in the previous year.
- Net Interest Margin (annualised) for the year ended March 31, 2023, stood at 7.2% against 8.2% in March 31, 2022.
- Total Advances (on book + off book + TLTRO + PTC) grew by 10% to ₹ 1,09,122 crore as on March 31, 2023 against ₹ 99,338 crores as on March 31, 2022.
- Total Deposits increased by 12% to ₹ 1,08,069 crore as on March 31, 2023 as compared to ₹ 96,331 crores as on March 31, 2022.
- Gross NPAs as on March 31, 2023 is at ₹ 5,299 crore (4.9%) against ₹ 6,380 crore (6.5%) as on March 31, 2022.
- Net NPAs as on March 31, 2023 stood at ₹ 1,228 crore (1.2%) against ₹1,564 crore (1.7%) as on March 31, 2022.
Speaking on the results, Chandra Shekhar Ghosh, MD & CEO, said, “The Bank registered good growth in the fourth quarter with EEB business coming back to normalcy. We are building new capabilities to unlock greater business impact. Our new business streams such as Commercial Vehicle Lending, Loans against Property for Business, Government Business Operations, among others, will add to the top line as well as the bottom line over the next few quarters. We have been fortunate to earn the trust of more than 3 crore Indians and we will endeavor to continue to be their trusted partner in their journey to achieve their dreams.”
Banking outlets as on March 31, 2023, stood at nearly 6000, the network consists of 1,411 branches, 4,588 banking units. Total number of ATMs stood at 438 as on March 31, 2023, against 471 as on March 31, 2022. During the year, the number of employees of the bank has gone up from 60,211 to 69,702.
Highlights for the Quarter/Year ended March 31, 2023:
| Particulars (in ₹ billions) | Quarter | Year ended | ||||||
| Q4 FY 23 | Q3 FY 23 | QoQ% | Q4 FY 22 | YoY% | 2023 | 2022 | YoY% | |
| Net Interest Income | 24.7 | 20.8 | 18.8% | 25.4 | -2.7% | 92.6 | 87.1 | 6.3% |
| Non-Interest Income | 6.3 | 10.3 | -39.1% | 9.7 | -35.3% | 24.7 | 28.2 | -12.5% |
| Total Income | 31.0 | 31.1 | -0.4% | 35.1 | -11.7% | 117.3 | 115.4 | 1.7% |
| Opex | 13.1 | 11.9 | 9.5% | 9.9 | 31.7% | 46.4 | 35.2 | 31.6% |
| Operating Profit | 18.0 | 19.2 | -6.5% | 25.2 | -28.8% | 70.9 | 80.1 | -11.5% |
| Provision (Other than Taxes) | 7.4 | 15.4 | -52.3% | 0.1 | - | 42.0 | 78.9 | -46.8% |
| PBT | 10.6 | 3.8 | 179.9% | 25.2 | -57.8% | 28.9 | 1.3 | 2143.4% |
| PAT | 8.1 | 2.9 | 177.7% | 19.0 | -57.5% | 22.0 | 1.3 | 1642.1% |
Key Ratios Highlights:
| Particulars | Quarter | Full Year | |||
| Q4 FY23 | Q3 FY23 | Q4 FY22 | 2023 | 2022 | |
| CASA to Total Deposit | 39.3% | 36.4% | 41.6% | 39.3% | 41.6% |
| Net Interest Margin (Annualised) | 7.3% | 6.5% | 8.7% | 7.2% | 8.2% |
| Cost to Income Ratio | 42.1% | 38.3% | 28.0% | 39.5% | 30.5% |
| Return on Average Assets (Annualised) | 2.2% | 0.8% | 6.0% | 1.6% | 0.1% |
| Return on Average Equity (Annualised) | 17.0% | 6.2% | 46.5% | 11.8% | 0.8% |
| Capital Adequacy Ratio (CAR) | 19.8% | 20.6% | 20.1% | 19.8% | 20.1% |
| Gross NPA (%) | 4.87% | 7.15% | 6.46% | 4.87% | 6.46% |
| Net NPA (%) | 1.17% | 1.86% | 1.66% | 1.17% | 1.66% |