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Bandhan Bank Ltd. is an Indian banking and financial services company headquartered in Kolkata, West Bengal. It was started as a micro-finance company in 2001 and received banking license by Reserve Bank of India in 2014. Total Banking outlets as on December 31, 2018, stood at 3992. The network consists of 978 branches and 3,014 doorstep service centers.
* Company has approved the merger of GRUH into Bandhan Bank. The share exchange ratio is 568 equity shares of Bandhan Bank to be issued for every 1,000 equity shares held in gruh Finance.
* The bank has received Rs. 276.85 crore from sale of priority sector lending certificate. Out of which Rs. 203.57 crore has been recognized in the P&L for the nine months ended Dec31, 2018. The remaining amount of Rs. 73.28 crore will be recognized in the profit and loss account over the remaining quarter.
* Company reported robust set of numbers for the quarter ended Dec 2018, despite of three fold increase in its provisions.
* Net Interest lncome (Nll) for the quarter grew by 53.5% at Rs 1,124 crore as against Rs. 732 crore in the corresponding quarter of previous year.
* Non-interest income grew by 48.1% at Rs. 234 crore for the quarter ended December 31, 2018 against Rs.158 crore in the corresponding quarter of the previous year
* Operating profit for the quarter increased by 56.8% at Rs.900 crore against Rs.574 crore in the corresponding quarter of the Previous Year. Net profit for the quarter grew by 10.4% at Rs. 331 crore against Rs. 300 crore.
* Gross NPAs as on 31 December 2018 stood at 2.4% of Gross NPA’s against 1.3% as on 30 September 2018 and 1.7% as on 31 December, 2017
* Provision and contingencies for the quarter ended December 31, 2018 includes provision of Rs. 384.95 crores in respect of exposure to a borrower from infrastructure development and finance sector.
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