Bandhan Bank Q1 net rises 47.5% to Rs 482 crore

Bandhan Bank on Tuesday 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% of the total advances of the lender.

Retail deposits accounted for 80% 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.