The fall in profit was steeper than expected as most analysts saw the decline to be around 14%. For instance, Axis Securities expected the net profit figure to be around Rs 758 crore.
Bandhan Bank said net interest income (NII) for the quarter increased 11.53 per cent YoY to Rs 4,523 crore from Rs 4,055 crore in the same quarter last year.
Bandhan Bank s Q1FY24 results are expected to be weak due to a sequential decline in loan growth and seasonably weak quarter, with net profit projected to fall up to 14%. However, the bank anticipated loan and deposit growth to be 20% above industry