Kolkata-based private sector lender Bandhan Bank’s net profit dropped 13.5 per cent to Rs 632.6 crore for the quarter ended December(Q3), compared to Rs 731 crore in the corresponding period a year ago due to rise in covid provisions. Sequentially, net profit declined by 31 per cent. Net interest income (NII) of the lender grew at a robust pace of 34.5 per cent year-on-year to Rs 2,071.7 crore in Q3FY21, compared to Rs 1,540 crore. The non-interest income saw a 55 per cent growth to Rs 553 crore, taking the total income of the lender to Rs 2,625 crore in Q3FY21, up 38.3 per cent. Net interest margin of the lender was up 4 basis points year-on-year to 8.3 per cent.
Bandhan Bank s collection efficiency hit in Assam as state passes micro-finance bill
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MUMBAI :
Bandhan Bank, a large player in the micro-finance market, has seen its collection efficiency dip in Assam days after the Bharatiya Janata Party-ruled state passed a bill to regulate micro finance lenders.
The Kolkata-headquartered lender witnessed a 10-percentage point contraction in collection efficiency between the December quarter and 1-16 January, to 78%. Collection has dipped in West Bengal as well, but by a meagre 1 percentage point, showed data released by the bank on Thursday.
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