Bandhan Bank Q4 Results: Net profit plunges 58% YoY to Rs 808 crore

Bandhan Bank has recorded a 58% fall in net profit at INR808 crore ($109m) for Q1 ending March 31 compared with INR1,902 crore in the same period a year earlier. This was due to significantly higher provisions and a fall in net interest income and other income. Bandhan Bank has been hit by bad loans in the microfinance sector; the size of the stressed microfinance loans pool was reduced to INR5,500 crore, down from INR7,600 crore three months earlier. The bank’s gross non-performing assets ratio improved to 4.9% at the end of March against 6.5% a year ago.