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Bandhan Bank Ltd reports Rs. 103.03 crore net profit in Q4 FY2020-21

Posted On: 2021-05-08 10:12:02 (Time Zone: UTC)


Bandhan Bank Ltd has reported financial results for the period ended March 31, 2021.

Financial Results (Q4 FY20-21) - QoQ Comparison

The company has reported total income of Rs.3787.91 crores during the period ended March 31, 2021 as compared to Rs.3861.12 crores during the period ended December 31, 2020.

The company has posted net profit / (loss) of Rs.103.03 crores for the period ended March 31, 2021 as against net profit / (loss) of Rs.632.59 crores for the period ended December 31, 2020.

The company has reported EPS of Rs.0.64 for the period ended March 31, 2021 as compared to Rs.3.92 for the period ended December 31, 2020.

FinancialsQ4 FY20-21Q3 FY20-21% Change
Total Income₹ 3787.91 crs₹ 3861.12 crsDown Tick -1.9%
Net Profit₹ 103.03 crs₹ 632.59 crsDown Tick -83.71%
EPS₹ 0.64₹ 3.92Down Tick -83.67%

Financial Results (Q4 FY20-21) - YoY Comparison

The company has reported total income of Rs.3787.91 crores during the period ended March 31, 2021 as compared to Rs.3346.47 crores during the period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.103.03 crores for the period ended March 31, 2021 as against net profit / (loss) of Rs.517.28 crores for the period ended March 31, 2020.

The company has reported EPS of Rs.0.64 for the period ended March 31, 2021 as compared to Rs.3.21 for the period ended March 31, 2020.

FinancialsQ4 FY20-21Q4 FY19-20% Change
Total Income₹ 3787.91 crs₹ 3346.47 crsUp Tick 13.19%
Net Profit₹ 103.03 crs₹ 517.28 crsDown Tick -80.08%
EPS₹ 0.64₹ 3.21Down Tick -80.06%

Financial Results (Year ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.14633.27 crores during the 12 months period ended March 31, 2021 as compared to Rs.12434.69 crores during the 12 months period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.2205.45 crores for the 12 months period ended March 31, 2021 as against net profit / (loss) of Rs.3023.73 crores for the 12 months period ended March 31, 2020.

The company has reported EPS of Rs.13.69 for the 12 months period ended March 31, 2021 as compared to Rs.18.76 for the 12 months period ended March 31, 2020.

FinancialsYear Ended FY20-21Year Ended FY19-20% Change
Total Income₹ 14633.27 crs₹ 12434.69 crsUp Tick 17.68%
Net Profit₹ 2205.45 crs₹ 3023.73 crsDown Tick -27.06%
EPS₹ 13.69₹18.76Down Tick -27.03%

Key Highlights:

- Deposits grew 36.6% YoY and 9.5% QoQ.
- Loan portfolio (on book + off book+ TLTRO) grew 21.2% YoY
- CASA grew 60.9% YoY
- CASA ratio at 43.4% against 36.8% YoY.

- Added 5 lakh customers during the quarter and 29 lakh during the year with total customer base at 2.30 crore as on March 31, 2021.

- GNPA as on March 31, 2021 at 6.8% against 7.1% proforma GNPA as on December 31, 2020 and 1.5% as on March 31, 2020.

- Net NPAs as on March 31, 2021 at 3.5% against proforma Net NPA of 2.4% as on December 31, 2020 and 0.6% as on March 31, 2020.

- Capital Adequacy Ratio (CRAR) at 23.5%; Tier I at 22.5%.

- Bank is also carrying in Micro banking portfolio additional provision of ₹388 crore on standard advances.

- Interest reversal of ₹ 525 crore on Q4 FY 21 on account of NPA recognition.

- Interest on interest has been provided amounting to ₹ 13 crore.

- During the quarter, the Bank has restructured accounts carrying a value of ₹617 crore as on March 31, 2021 of housing finance vertical comprising of 0.71% of total portfolio of the Bank.

- The Board of Directors has proposed a dividend of ₹ 1 per share for the year ended March 31, 2021

Highlights for the Quarter ended March 31, 2021:

- Net Interest Income (NII) for the quarter grew by 4.6% to ₹1,757.0 crore as against ₹1,680.0 crore in the corresponding quarter of the previous year.

- Non-interest income grew by 57.4% to ₹787.3 crore for the quarter ended March 31, 2021 against ₹500.2 crore in the corresponding quarter of the previous year.

- Operating Profit for the quarter increased by 13.7% to ₹1,729.5 crore against ₹1,520.7 crore in the corresponding quarter of the previous year.

- Net Interest Margin (annualised) for the quarter ended March 31, 2021 stood at 6.8%; while NIM is at 8.8% excluding onetime reversal on account of NPA recognition and interest on interest, against 8.1% in March 31, 2020.

Highlights for the Year ended March 31, 2021:

- Net Interest Income (NII) for the current year grew by 19.6% to ₹7,563.4 crore as against ₹6,323.9 crore in the previous year.

- Non-interest income grew by 36.1% to ₹2109.1 crore for the year ended March 31, 2021 against ₹1,549.2 crore in the previous year ended March 31, 2020.

- Operating Profit for the year increased by 25.9% to ₹6,855.3 crore against ₹5,446.6 crore in the previous year.

- Net Interest Margin (annualised) for the year ended March 31, 2021 stood at 7.8% against 8.1% in March 31, 2020.

- Total Advances (on book + off book+TLTRO) grew by 21.2% to ₹87,042.9 crore as on March 31, 2021 against ₹71,846.0 crore as on March 31, 2020 and 8.5% QoQ against ₹80,255.2 crore as on December 31, 2020.

- Total Deposits increased by 36.6% to ₹77,972.2 crore as on March 31, 2021 as compared to ₹57,081.5 crore as on March 31, 2020 and 9.5% QoQ against ₹71,188.3 crore as on December 31, 2020.

- Gross NPAs as on March 31, 2021 is at ₹5,757.8 crore (6.8%) against ₹5515 crore (7.1%) proforma Gross NPA as on December 31, 2020.

- Net NPAs as on March 31, 2021 stood at ₹2,861.0 crore (3.5%) against ₹ 1738 crore (2.4%) proforma Net NPA as on December 31, 2020.

Commenting on the performance, Mr. Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank said: "A very challenging year ended on a positive note with growth and collection coming back to normalcy. With accelerated provisioning and write off, we are now well placed as we enter FY 22. We remain cautious but confident as we deal with the COVID 19 second wave. We remain committed to our strategy that we have presented last quarter of granular, diversified and quality growth."

Banking outlets as on March 31, 2021, stood at 5,310. The network consists of 1,147 branches, 4,163 banking units as against 1,018 branches and 3,541 banking units as on March 31, 2020. Total number of ATMs stood at 487 as on March 31, 2021 against 485 as on March 31, 2020. During the quarter, the number of employees of the bank has gone up from 47,260 to 49,445.

Shares of Bandhan Bank Ltd was last trading in BSE at Rs.297 as compared to the previous close of Rs. 294.65. The total number of shares traded during the day was 932019 in over 13096 trades.

The stock hit an intraday high of Rs. 302.45 and intraday low of 291.3. The net turnover during the day was Rs. 276423787.


Source: Equity Bulls

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