(Reuters) - India’s Bandhan Bank Ltd posted a 47 percent surge in its quarterly profit on Wednesday, helped by higher interest income.
Net profit was 4.82 billion rupees ($70.32 million) in the first quarter ended June 30, compared with 3.27 billion rupees a year ago, the Kolkata-based bank, which started as a micro-finance firm, said in a statement here
Gross bad loans as a percentage of total loans stood at 1.26 percent at end-June, compared with 1.25 percent in the previous quarter and 0.93 percent a year earlier.
Interest earned during the quarter was up about 35 percent.
($1 = 68.5400 Indian rupees)
Reporting by Vishal Sridhar in Bengaluru; Editing by Subhranshu Sahu