Bandhan Bank Q1 Result: The stock of Bandhan Bank climbed more than 13 percent in early deals on Monday, after the private sector lender's net profit climbed 47 percent to Rs 1,063 crore in the June 2024 quarter on lower bad loans. The stock rose 11.97 percent to Rs 215.50 on the BSE. On the NSE, it leaped 13.35 percent to Rs 218.20. The lender posted a net profit of Rs 721 crore in the year-ago period.

According to Bandhan Bank, which reported its results on Friday, total income for the quarter climbed to Rs 6,063 crore from Rs 4,908 crore a year ago. Interest income increased to Rs 5,536 crore during the quarter under review from Rs 4,523 crore in the corresponding quarter a year ago.

On the asset quality front, the bank's gross non-performing assets (NPAs) improved to 4.23 percent of aggregate advances as of June 30, 2024, from 6.76 percent in the April-June quarter of the prior fiscal. Net NPAs also declined to 1.15 percent of advances from 2.18 percent a year ago.

As a result, provisions other than taxes and contingencies decreased to Rs 523 crore from Rs 602 crore set aside during the same quarter a year ago.

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ICICI Bank Share Price

Shares of ICICI Bank climbed nearly 3% in early morning trading on Monday, after the company reported a near-10% increase in consolidated net profit for the June quarter.

The stock climbed 2.67 percent to Rs 1,239.95 on the BSE. The stock rose 2.74 percent to Rs 1,240.35 on the NSE.
ICICI Bank reported a near-10% growth in consolidated net profit to Rs 11,696 crore in the quarter on the back of treasury gains on Saturday.

The country's second-largest private sector lender's core income growth slowed, but treasury operations aided it in posting a 14.62 percent increase in standalone after-tax profit to Rs 11,059 crore.

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(With Agencies Input)