Bandhan Bank posted a good set of earnings. In terms of asset quality, Gross NPA fell from 1.48% to 1.43% (QoQ) while Net NPA too fell from 0.58% to 0.48%.
The bank’s provisions for the quarter were at Rs.849 crore, up from Rs.827 crore (QoQ). The Bank said that it took accelerated provisions on standard advances worth Rs.750 crore for Covid.
In terms of profitability, the Bank reported a 15% rise in NII at Rs.1812 crore while net profit fell 32% to Rs.550 crore. NIM remained status quo at 8.15%.
The stock price is currently in the red, with profit booking coming in after the earnings report. The stock opened 2% higher and even went up 5% to Rs.370 and from there, it went down to Rs.345 levels and is currently at Rs.348.