Bandhan Bank racks up Rs 275 crore net profit

Kolkata: Bandhan Bank, which started banking operations from August 2015, registered a net profit of Rs 275 crore during September 2015 and March 2016.

Founder MD and CEO of Bandhan Bank Chandra Shekhar Ghosh said, "The bank has posted a decent profit despite starting operations not very long."

Net interest income stood at Rs 932 crore and non-interest income at Rs 150 crore, he told reporters here today.

During the last seven months of 2015-16, gross advances stood at Rs 15,493 crore, deposits at Rs 12,088 crore and net worth at Rs 3,334.5 crore.

Ghosh said that in the current fiscal, the expected credit and deposit growth would both be around 30 percent.

CASA of the bank at the end of March 2016 stood at 21.55 percent of deposits while capital adequacy ratio read 29.01 percent.

The depositor base of the bank came in at 8.4 million and the total branch network was 670.0