April 27, 2018 / 7:34 AM / a month ago

Bandhan Bank fourth-quarter profit rises 20 percent

(Reuters) - Bandhan Bank Ltd, which had a stellar market debut last month, reported an about 20 percent jump in quarterly profit, helped by higher interest income.

A man leaves an automated teller machine (ATM) facility of Bandhan Bank in Kolkata, March 8, 2018. REUTERS/Rupak De Chowdhuri

Net profit rose to 3.88 billion rupees ($58.09 million) in the three months ended March 31, from 3.22 billion rupees a year ago, the Kolkata-based bank said in a statement here on Friday.

Gross bad loans as a percentage of total loans stood at 1.25 percent at end-March, compared with 1.67 percent in the previous quarter and 0.51 percent a year earlier.

Interest earned during quarter was up 25 percent.

($1 = 66.7900 Indian rupees)

Reporting by Vishal Sridhar in Bengaluru; Editing by Biju Dwarakanath

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