Kolkata, Jul 27: Bandhan Bank today reported its 1st quarter (Apr-June 2017-18) growth 35.12 per cent with net profit at Rs 327 crore, and announced to launch mutual funds and general insurance shortly. Disclosing this BB managing director and CEO Chandra Shekhar Ghosh said the net profit for 1st quarter at Rs 327 crore as against Rs 242 crore in the corresponding quarter of the previous year, registering a growth of 35.12 per cent on year on year. The private lender has reported Net interest income (NII) for the quarter was Rs 743 crore as against Rs 538 crore in the corresponding quarter of the previous year, registering a robust growth of 38.10 per cent and Non-interest income for the quarter was Rs 122 crore as against Rs 63 crore, recording a growth of 93.65 per cent. In Operating Profit for the quarter was Rs 557 crore as against Rs 385 crore, showing growth 44.68 per cent, and Net Interest Margin (NIIM) for the current quarter was 10.75 per cent as against 10.62 per cent, showing growth 13bps. Since inception Bandhan Bank, first such private lender in post independence in eastern India, recorded a healthy deposit portfolio of Rs 22, 439 crore. The BB continues to witness a robust CASA growth with the CASA balance as on June 30, 2017 stood at Rs 5908 crore as against Rs 2178 crore in June 30, 2016, demonstrating significant momentum in the Retail banking platforms. Mr Ghosh said they have now around 11 million depositors, who have been seeking investments in mutual fund and general insurance and for these the board directors have approved for starting in these two areas in few weeks time. He said the process of picking partners has been started and shortly to be launched in its 50 branches in first phase and another 50 branches in next phase. Mr Ghosh said some of the big branches will have tie up with small branches so that bank clients are not deprived in investment in MF and GI. Mr Ghosh said though his bank had not much affected by the demonetisation, but its businesses suffered for agriculture loan waivers in Maharastra, UP Delhi Haryana and some other states in terms of NPA ( non profit assests). He also acknowledged that Darjeeling unrest had also affected BB businesses to some extent as it has some 11 branches in Darjeeling and Gangtok. UNI
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