FY 19 Q3 Earnings " Bandhan Bank"
The company posted at 10% profits in Q3.
Net profit rose to Rs 331 cr from Rs 300 cr a year ago. It is very much lower then expectations because the bank made a 100% provision for its
Rs 385 cr loan made over 2 year ago.
Loan grew 46%(YOY) to Rs 35,599 cr from Rs 24,364 cr. Gross NPA's increase to 2.4 % from 1.7% because of the IL&FS exposure.
NII grew 54% to Rs 1125 cr form Rs 732 cr a year ago.
Over all its a very good performance delivered by the company.
The management said that, " The bank will hence forth shy away from large ticket corporate loans and continue to lend small ticket loans to enterprises and affordable housing segment".
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