Profit before tax stood at Rs 135.17 crore in Q4 FY21, a decline of 80.5% from Rs 693.32 crore in the same period last year. Operating profit before provisions surged 13.73% year on year to Rs 1,729.47 crore in Q4 FY21.The bank's Net Interest Income (NII) for the quarter grew by 4.6% year on year to Rs 1,757 crore in Q4 FY21 from Rs 1,680 crore in the corresponding quarter of the previous year. Net Interest Margin (annualised) for the quarter ended 31 March 2021 stood at 6.8%. NIM is at 8.8% excluding onetime reversal on account of NPA recognition and interest on interest as against 8.1% in 31 March 2020.
Non-interest income grew 57.4% to Rs 787.3 crore for the quarter ended 31 March 2021 compared with Rs 500.2 crore in the corresponding quarter of the previous year.
Provisions and contingencies spiked by 92.7% to Rs 1594.30 crore in Q4 FY21 compared with Rs 827.36 crore in Q4 FY20. The bank said it is holding accelerated provisions of Rs 387.96 crore on standard assets as at 31 March 2021 against the potential impact of COVID-19 (other than provisions held for restructuring under COVID-19 norms).
The gross NPA ratio surged to 6.81% as on 31 March 2021 from 7.1% (proforma basis) as on 31 December 2020 and 1.5% as on 31 March 2020. The net NPA ratio increased to 3.51% as on 31 March 2021 from 2.4% (proforma basis) as on 31 December 2020 and 0.6% as on 31 March 2020.
The microfinance lender posted a 27% fall in net profit to Rs 2205.45 crore in year ended 31 March 2021 (FY21) from Rs 3023.73 crore registered in the year ended March 2020 (FY20). Total income increased by 17.68% to Rs 14,633.27 crore in FY21 over FY20.
Commenting on the performance, Chandra Shekhar Ghosh, MD and CEO of Bandhan Bank said, A very challenging year ended on a positive note with growth and collection coming back to normalcy. With accelerated provisioning and write off, we are now well placed as we enter FY 22. We remain cautious but confident as we deal with the COVID 19 second wave. We remain committed to our strategy that we have presented last quarter of granular, diversified and quality growth.
The bank's capital adequacy ratio (CRAR) declined to 23.5% in Q4 FY21 from 27.4% in Q4 FY20.
Total Advances (on book+off book+TLTRO) grew by 21.2% to Rs 87,042.90 crore as on 31 March 2021 from Rs 71,846 crore as on 31 March 2020. Total Deposits increased by 36.6% year on year to Rs 77,972.2 crore as on 31 March 2021 as compared to Rs 57,081.5 crore posted on 31 March 2020. CASA to total deposit ratio improved to 43.4% in Q4 FY21 from Rs 36.8% in Q4 FY20.
Meanwhile, the board has recommended a dividend of Re 1 per share.
Bandhan Bank operates as a commercial bank. Banking outlets as on 31 March 2021, stood at 5,310. The network consists of 1,147 branches, 4,163 banking units as against 1,018 branches and 3,541 banking units as on 31 March 2020. Total number of ATMs stood at 487 as on 31 March 2021 against 485 as on 31 March 2020.
Shares of Bandhan Bank rose 0.8% at Rs 297 on Friday.
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