Bandhan Bank Q4 result: Net profit decline 57% to ₹808 cr, dividend declared

Private lender Bandhan Bank on Friday reported 57.5 per cent decline in net profit to 808.3 crore for the quarter ended March 2023. This is against a net profit to 1,902 crore in the corresponding quarter last fiscal.

Meanwhile, its net interest income (NII), which is the difference between interest earned and expended, down 2.7 per cent to Rs2,471.8 crore from 2,540.2 crore year-on-year (YoY).

The board has recommended a dividend of 1.50 a share having face value of Rs. 10 each (i.e. 15 %) for the Financial Year ended March 31, 2023, subject to approval of shareholders.

Total income rose a marginal 1% YoY to 4,897 crore. The operating profit for the quarter decreased by nearly 7 per cent sequentially to 1,796 crore.

Net interest margin for the March quarter was 7.3 per cent compared to 6.5 per cent a quarter ago.

On Friday, the company’s shares was down by 2.48 per cent to 237.95 on BSE.

(This is a developing story, more to come)

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