Q4 2024 Bandhan Bank Ltd Earnings Call Transcript
Key Points
- Bandhan Bank Ltd (BOM:541153) reported a robust quarter with a 14% year-on-year growth in gross advances, reaching INR124,724 crores.
- The bank saw a significant improvement in asset quality, with the gross NPA ratio improving to 3.8% from 7% in the previous quarter.
- Total deposits grew by 25% year-on-year to INR135,202 crores, reflecting strong customer trust.
- The bank's net interest margin improved to 7.6% in Q4 FY24, up from 7.2% in the previous quarter.
- Bandhan Bank Ltd (BOM:541153) has a strong network base with 6,300 banking outlets and a customer base of over 3.35 crores.
- The bank's profitability was impacted by a technical write-off of INR3,852 crores, resulting in lower profits for the quarter.
- Operational expenses increased by 32% year-on-year, partly due to one-off expenses related to core banking implementation and other factors.
- Despite improvements, the bank's slippages in the EEB book remain a concern, with INR625 crores in slippages reported in Q4 FY24.
- The bank's cost-to-income ratio remains high at 48%, although it is expected to improve gradually over the next few years.
- The ongoing audit of the CGFMU portfolio adds an element of uncertainty, although management is confident of a positive outcome.
Ladies and gentlemen, good day, and welcome to the Bandhan Bank Q4 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Vikash Mundhra. Thank you, and over to you.
Thank you, Yashashri. Good evening, everyone, and a warm welcome to all the participants. It's our pleasure to welcome you all to discuss Bandhan Bank's business and financial performance for the quarter and year ending March '24. We will take this opportunity to update you on the recent developments in the industry as well as on Bandhan Bank during the quarters.
To discuss all this in detail, we have with us our Founder, Managing Director and CEO, Mr. Chandra Shekhar Ghosh; Executive Director and Chief Operating Officer, Mr. Ratan Kumar Kesh; Executive Director and Chief Business Officer, Mr. Rajinder Kumar Babbar; Chief Financial Officer, Mr. Rajeev Mantri; myself, Vikash Mundhra, Head of Investor Relations, along with other senior management team of
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