Bandhan Bank’s board to meet today to consider financial results

Posted on by

board of directors Bandhan Bank It will meet today (May 19) to consider and approve the audited financial results for the fourth quarter of fiscal ’23 as well as the full fiscal year ’23. The bank said in a notice to the BSE that the board of directors will also consider recommending a dividend for the said financial year, if any.

Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank, will brief the media later in the day to inform them of the bank’s performance during the quarter ended March 31.

Bank’s net profit It fell nearly 66 per cent to ₹ 291 crore In the third quarter ended 31st December 2022, for INR 859 crore over the same period in the previous year on account of higher provisions. Provisions for the quarter increased by more than 91 per cent to Rs.1,542 crore (Rs.806 crore).

Also read: GNFC’s net standalone in the fourth quarter was down 48 percent

Since most non-performing accounts in the restructured loan book are out of the system, lower slippage and better returns on advances are likely to improve profitability and margins in Q4FY23 and subsequent quarters for each bank.

The bank’s board of directors was recently Ratan Kumar Kesh appointed as CEO for three years.

The bank’s stock opened at $243.85, down 0.06 percent, on BSE on Thursday.