Bandhan Bank Q3 result: Profit falls 42% to Rs 426 cr due to bad loans

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Private lender Bandhan Bank on Friday reported a 42 per cent decline in its net profit for the third quarter of the current financial year at Rs 426 crore as compared to Rs 733 crore in the year-ago period.

Lender's MD and CEO Partha Pratim Sengupta said that the drop in net profit was primarily due to a change in accounting procedure and an additional provision of Rs 336 crore for loans, which turned bad, during the October-December quarter.

He said accounting for the Employee Stock Option Scheme (ESOP) also impacted the net profit to the tune of Rs 166 crore.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Liability products Digital banking Capital adequacy Bad loans Q3 profit Provisions Microfinance Net profit decline Bandhan Bank ESOP

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-31 @ 20:57:42 (4 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 391 words

Reading Time: 3 minutes read

Sentences: 16 lines

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Copyright Owner: © Business Standard

News ID: 25674314

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