The whole world in the year 2020 has turned upside down leaving people scattered and scared. The banks have also had to suffer the wrath of the virus. Bandhan Bank experienced a 5% dip in the second quarter. The bank on Monday released a statement revealing this dip in their profit rates for the September quarter’s net profit of Rs. 920 crore. The loss was experienced by the bank due to the decline in the financial stability of their customers due to the pandemic. Bandhan Bank that initially started as a microlender is now a universal bank offering a huge product base to their preexisting customers and new ones.
Observing the loss, the bank is now looking for new ways to cover the loss gap. They are introducing their new products like selling gold loans, vehicle loans, unsecured personal loans, etc. Most of all understanding the needs of their customers, Bandhan Bank’s personal loan is all refreshed and ready to hit the markets. With the new strategy, the bank’s core net profit from interest moved from 25% to Rs. 1,920 crores on a 19.4% growth rate despite a 0.2% drop in the net interest margin (NIM). The bank revealed through an official statement that due to a high quantum of liquidity the profit margins on their deposit growth saw a decline of 16%. But the bank is confident that the net quarter will be profitable for them. They are looking forward to improving their profit margins.
The Bank also saw a decline of 1.2% of the overall loan book, from an asset quality perspective, Bandhan Bank would’ve been at a 1.5% had the supreme court mandate on non-classification of certain loan accounts as null and void not been announced. But despite all the barriers and obstacles, the bank is determined to rise above it all and improve their loan books, especially the Bandhan Bank Personal Loan.
Dialabank takes care of all your financial needs. With us you can remain care free and get a loan that suits you the best. Get a personal loan with the best interest rates and lowest processing fee. You can get assistance by visiting our website, www.dialabank.com or call us on 9878981166.