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Bandhan Bank First-quarter Profit Surges On Higher Interest Income
Gross bad loans as a percentage of total loans stood at 1.26 per cent at end-June, compared with 1.25 per cent in the previous quarter and 0.93 per cent a year earlier
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1520490761_Jaq5NB_bandhan-bnak-470.jpg
India's Bandhan Bank posted a 47 per cent surge in its quarterly profit on Wednesday, helped by higher interest income.
Net profit was Rs 4.82 billion ($70.32 million) in the first quarter ended June 30, compared with Rs 3.27 billion a year ago, the Kolkata-based bank, which started as a micro-finance firm, said in a statement.
Gross bad loans as a percentage of total loans stood at 1.26 per cent at end-June, compared with 1.25 per cent in the previous quarter and 0.93 per cent a year earlier.
Interest earned during the quarter was up about 35 per cent.
(Reuters)