The microlender turned commercial bank recorded a net profit of Rs 651 crore compared with Rs 388 crore in the corresponding quarter previous year. Net interest income during the quarter stood at Rs 1,258 crore, a 45.6 per cent growth over the year-ago period. “Although Bandhan Bank is born in the east, deposits are coming from all over the country,” said Ghosh in Mumbai. Bandhan Bank was unable to bring down the promoter holding to the RBI-mandated 40 per cent last year, which resulted in restrictions placed on branch expansion. Shares riseThe Bandhan Bank share was up 4.11 per cent at Rs 622.60 over the previous close on the Bombay Stock Exchange.

Source: The Telegraph May 02, 2019 19:52 UTC