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Bandhan Bank Ltd shares have dipped 7 per cent to Rs 272.55 on the BSE in Monday’s intra-day trade after the bank reported a net loss of Rs 3,009 crore in the second quarter ended September 2021 (Q2FY22) on huge provisions of over Rs 4,600 crore for the bad loans and restructured advances. It had posted a net profit of Rs 920 crore in Q2FY21. The stock of the private sector lender is trading close to its 52-week low of Rs 259.40, touched on August 25, 2021.
During the quarter, the bank has made accelerated provision on non-performing assets (NPA) accounts of Rs 1,500 crore resulting in PCR of 74 per cent against 62 per cent in Q1FY22. In addition to this, the bank has also provided additional standard assets provision amounting to Rs 2,100 crore and provision on restructured assets amounting to Rs 1,030 crore, amounting to a total of Rs 4,630 crore, Bandhan Bank said in a statement.
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Its gross non-performing assets rose to 10.8 per cent in Q2FY22 from 1.2 per cent a year ago and 8.2 per cent in June 2021. The net NPAs were up at 3.0 per cent from 0.36 per cent a year ago. However, they declined marginally from 3.29 per cent in June 2021.
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