Bandhan Bank’s Q4 Net Profit Plunges 94% to ₹54 Crore, NII Up 16% Year-Over-Year

Bandhan Bank revealed its financial results for the fourth quarter of fiscal year 2023-24 on May 17. The bank reported a substantial 94% drop in net profit, amounting to ₹54.6 crore, in comparison to the same period a year ago when it was ₹808.3 crore.

On a positive note, the net interest income (NII) of Bandhan Bank for Q4FY24 showed growth, increasing by 16% to ₹2,866 crore from ₹2,471 crore in the corresponding period last year.

The financial performance of Bandhan Bank in the January-March quarter seems to reflect the challenging economic environment faced by the banking sector in recent times. Despite the drop in net profit, the increase in net interest income signals some underlying resilience.

Bandhan Bank’s operational efficiency and interest income generation capabilities have been instrumental in navigating through the current market conditions. The bank’s strategic decisions and focus on interest income growth have contributed to the rise in net interest income during the fourth quarter.