Bandhan Financial institution This fall revenue falls 80% to Rs 103.03 crore on greater provisions


Web Curiosity Margin (NIM) stood at 6.8%, down 129 bps from 8.1% for the final quarter of FY20. The financial institution mentioned NIM in Q4FY21 was at 8.8%, excluding one time curiosity reversal on NPA and curiosity on curiosity.

Personal sector lender Bandhan Financial institution on Saturday reported an 80% year-on-year fall in internet revenue for the quarter ending March, to Rs 103.03 crore on the again of further provisions on non-performing property (NPAs).

The Kolkata-based financial institution had posted Rs 517.28 crore internet revenue within the fourth quarter of FY2019-20. The lender’s whole provision and contingencies throughout the fourth quarter of FY2020-21 rose 92.7% y-o-y to Rs 1594.30 crore from Rs 827.36 crore in the identical quarter earlier fiscal.

Through the interval beneath evaluation, gross NPAs as a proportion of whole loans elevated 569 foundation factors quarter-on-quarter to six.8% from 1.11% throughout the third quarter final fiscal.

The financial institution’s proforma GNPA had stood at 7.12% in Q3FY21. Throughout Q4FY21, internet NPA ratio rose by 325 bps q-o-q at 3.51%. Chandra Shekhar Ghosh, MD and CEO, Bandhan Financial institution, mentioned a really difficult 12 months ended on a constructive observe with progress and assortment coming again to normalcy. “With accelerated provisioning and write off, we are actually nicely positioned as we enter FY22. We stay cautious however assured as we cope with the Covid 19 second wave,” Ghosh mentioned.

Through the fourth quarter, the financial institution wrote-off Rs 1930 crore price of loans, the place Rs 1876 crore was from the microfinance section. “Our financial institution didn’t restructure any mortgage within the microfinance section, whereas Rs 617 crore of housing finance was restructured,” Ghosh mentioned.

In microfinance section, the lender’s assortment effectivity, together with NPA and written-off debtors, on the finish of March 31, 2021, stood at 95% as towards 92% on the finish of December 31, 2020. At finish of the final quarter of FY21, assortment effectivity, excluding NPA and written-off debtors, was 98% as per worth. Web Curiosity Earnings (NII) for the quarter grew 4.58% to Rs 1757.01 crore as towards Rs 1,680.04 crore within the corresponding quarter of the earlier 12 months.

Web Curiosity Margin (NIM) stood at 6.8%, down 129 bps from 8.1% for the final quarter of FY20. The financial institution mentioned NIM in Q4FY21 was at 8.8%, excluding one time curiosity reversal on NPA and curiosity on curiosity.

Over the last fiscal, whole advances grew 21.2% to Rs 87,042.9 crore as towards Rs 71,846 crore as on March 31, 2020.

“Our prospects acquired experiences from the primary wave of Covid. Now, they know the right way to cope with the pandemic scenario and lockdowns. In comparison with the nationwide lockdowns final 12 months, this time we’re having state-wise and region-wise lockdowns to fight Covid second wave. So, we count on this time prospects’ companies wouldn’t be impacted that a lot as in comparison with the final 12 months,” Ghosh mentioned, including thus, for the financial institution, FY22 could be higher in comparison with FY21.

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