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  Business   Companies  18 Jul 2018  Bandhan Bank Q1 net rises 47.5 per cent to Rs 482 crore

Bandhan Bank Q1 net rises 47.5 per cent to Rs 482 crore

PTI
Published : Jul 18, 2018, 3:54 pm IST
Updated : Jul 18, 2018, 3:54 pm IST

Bandhan bank's total deposits stood at Rs 30,703 crore as on June 30, 2018.

The bank has a total of 937 branches, which is likely to go up to 1,000 by the end of this fiscal.
 The bank has a total of 937 branches, which is likely to go up to 1,000 by the end of this fiscal.

Kolkata: Bandhan Bank today posted a 47.5-per cent rise in its net profit for the first quarter ended June to Rs 482 crore as against a bottomline of Rs 327 crore a year ago.

Net interest income (NII) of the bank during the reporting quarter rose to Rs 1,037 crore compared with Rs 743 crore in the year-earlier period.

 

MD and CEO of Bandhan Bank Chandra Sekhar Ghosh said the lender would complete three years of operations in August, and continue to focus on micro-credit financing as it has been its forte.

Besides the micro-financing sector, the bank would lay focus on retail, affordable housing and MSME segments.

The Kolkata-based bank's total deposits stood at Rs 30,703 crore as on June 30, 2018, he told reporters here.

Micro-credit constituted 85 per cent of the total advances of the lender. Retail deposits accounted for 80 per cent of the total deposits and the remaining were bulk deposits, Ghosh said.

The bank has a total of 937 branches, which is likely to go up to 1,000 by the end of this fiscal, he added.

 

Tags: bandhan bank, profit, shares, revenue
Location: India, West Bengal, Calcutta [Kolkata]