Profit Statement | 2016 | 2017 | 2018 | |
Net Interest Income | INR bil | 24.0 | 30.3 | 45.0 |
Net Fee Income | INR bil | 3.20 | 4.05 | 5.99 |
Other Income | INR bil | 0.910 | 3.02 | 4.64 |
Total Revenues | INR bil | 28.1 | 37.4 | 55.6 |
Operating Profit | INR bil | 17.8 | 23.9 | 37.7 |
Provisions | INR bil | 0.802 | 3.33 | 7.60 |
Net Profit | INR bil | 11.1 | 13.5 | 19.5 |
Balance Sheet | 2016 | 2017 | 2018 | |
Interbank Loans | INR bil | 13.5 | 26.7 | 19.2 |
Customer Loans | INR bil | 168 | 297 | 396 |
Total Assets | INR bil | 302 | 443 | 564 |
Shareholders' Equity | INR bil | 44.5 | 93.8 | 112 |
Interbank Borrowing | INR bil | 0.249 | 0.453 | 0.974 |
Customer Deposits | INR bil | 232 | 339 | 432 |
Issued Debt Securities | INR bil | 10.3 | 2.85 | 5.21 |
Ratios | 2016 | 2017 | 2018 | |
ROE | % | 28.6 | 19.5 | 19.0 |
ROA | % | 4.45 | 3.61 | 3.87 |
Costs (As % Of Assets) | % | 4.12 | 3.62 | 3.55 |
Costs (As % Of Income) | % | 36.6 | 36.1 | 32.1 |
Capital Adequacy Ratio | % | 26.4 | 31.5 | ... |
Net Interest Margin | % | 9.62 | 8.14 | 8.93 |
Loans (As % Of Deposits) | % | 72.5 | 87.7 | 91.7 |
NPLs (As % Of Loans) | % | 0.512 | 1.25 | 2.04 |
Provisions (As % Of NPLs) | % | 29.1 | 53.7 | 72.1 |
Valuation | 2016 | 2017 | 2018 | |
Price/Earnings (P/E) | ... | 41.6 | 32.2 | |
Price/Book Value (P/BV) | ... | 5.96 | 5.61 | |
Dividend Yield | % | ... | 0.213 | 0.570 |
Earnings Per Share (EPS) | INR | 10.2 | 12.3 | 16.3 |
Book Value Per Share | INR | 40.6 | 85.5 | 93.8 |
Dividend Per Share | INR | 0 | 1.09 | 3.00 |
Get all company financials in excel:
summary | Unit | 2014 | 2015 | 2016 | 2017 | 2018 |
income statement | ||||||
Net Interest Income | INR bil | ... | 9.33 | 24.0 | ||
Total Revenues | INR bil | ... | 10.8 | 28.1 | ||
Operating Profit | INR bil | ... | 4.67 | 17.8 | ||
Net Profit | INR bil | ... | 2.75 | 11.1 | ||
balance sheet | ||||||
Interbank Loans | INR bil | 4.01 | 23.6 | 13.5 | ||
Customer Loans | INR bil | 0 | 124 | 168 | ||
Debt Securities | INR bil | 0 | 37.6 | 55.2 | ||
Total Assets | INR bil | 5.27 | 198 | 302 | ||
Shareholders' Equity | INR bil | 5.02 | 33.3 | 44.5 | ||
Interbank Borrowing | INR bil | 0 | 0.098 | 0.249 | ||
Customer Deposits | INR bil | 0 | 121 | 232 | ||
Issued Debt Securities | INR bil | 0 | 30.5 | 10.3 | ||
ratios | ||||||
ROE | % | ... | 14.4 | 28.6 | ||
ROA | % | ... | 2.71 | 4.45 | ||
Costs (As % Of Assets) | % | ... | 6.07 | 4.12 | ||
Costs (As % Of Income) | % | ... | 56.9 | 36.6 | ||
Capital Adequacy Ratio | % | ... | 29.0 | 26.4 | ... | |
Net Interest Margin | % | ... | 9.20 | 9.62 | ||
Interest Income (As % Of Revenues) | % | ... | 86.2 | 85.4 | ||
Fee Income (As % Of Revenues) | % | ... | 13.4 | 11.4 | ||
Equity (As % Of Assets) | % | 95.2 | 16.9 | 14.7 | ||
Loans (As % Of Deposits) | % | ... | 103 | 72.5 | ||
Loans (As % Assets) | % | 0 | 63.0 | 55.7 | ||
NPLs (As % Of Loans) | % | ... | 0.151 | 0.512 | ||
Provisions (As % Of NPLs) | % | ... | 45.5 | 29.1 | ||
valuation | ||||||
Market Capitalisation (End Of Period) | USD mil | ... | ... | ... | ||
Number Of Shares (Average) | mil | ... | 809 | 1,095 | ||
Share Price (End Of Period) | INR | ... | ... | ... | ||
Earnings Per Share (EPS) | INR | ... | 3.40 | 10.2 | ||
Book Value Per Share | INR | ... | 41.2 | 40.6 | ||
Dividend Per Share | INR | ... | 0 | 0 | ||
Price/Earnings (P/E) | ... | ... | ... | |||
Price/Book Value (P/BV) | ... | ... | ... | |||
Dividend Yield | % | ... | ... | ... | ||
Earnings Per Share Growth | % | ... | ... | 198 | ||
Book Value Per Share Growth | % | ... | ... | -1.54 |
income statement | Unit | 2014 | 2015 | 2016 | 2017 | 2018 |
income statement | ||||||
Interest Income | INR bil | ... | 15.8 | 39.1 | ||
Interest Cost | INR bil | ... | 6.49 | 15.1 | ||
Net Interest Income | INR bil | ... | 9.33 | 24.0 | ||
Net Fee Income | INR bil | ... | 1.45 | 3.20 | ||
Other Income | INR bil | ... | 0.045 | 0.910 | ||
Total Revenues | INR bil | ... | 10.8 | 28.1 | ||
Operating Cost | INR bil | ... | 6.16 | 10.3 | ||
Operating Profit | INR bil | ... | 4.67 | 17.8 | ||
Provisions | INR bil | ... | 0.533 | 0.802 | ||
Extra and Other Cost | INR bil | ... | 0 | 0 | ||
Pre-Tax Profit | INR bil | ... | 4.14 | 17.0 | ||
Tax | INR bil | ... | 1.38 | 5.93 | ||
Minorities | INR bil | ... | 0 | 0 | ||
Net Profit | INR bil | ... | 2.75 | 11.1 | ||
Dividends | INR bil | ... | 0 | 0 | ||
growth rates | ||||||
Net Interest Income Growth | % | ... | ... | 158 | ||
Net Fee Income Growth | % | ... | ... | 120 | ||
Total Revenue Growth | % | ... | ... | 160 | ||
Operating Cost Growth | % | ... | ... | 67.3 | ||
Operating Profit Growth | % | ... | ... | 282 | ||
Pre-Tax Profit Growth | % | ... | ... | 312 | ||
Net Profit Growth | % | ... | ... | 304 | ||
market share | ||||||
Market Share in Revenues | % | ... | 0.321 | 0.700 | ... | |
Market Share in Net Profit | % | ... | 0.669 | ... | ... | ... |
balance sheet | Unit | 2014 | 2015 | 2016 | 2017 | 2018 |
balance sheet | ||||||
Cash | INR bil | < 0.001 | 8.10 | 60.1 | ||
Interbank Loans | INR bil | 4.01 | 23.6 | 13.5 | ||
Customer Loans | INR bil | 0 | 124 | 168 | ||
Debt Securities | INR bil | 0 | 37.6 | 55.2 | ||
Fixed Assets | INR bil | 1.09 | 2.37 | 2.52 | ||
Total Assets | INR bil | 5.27 | 198 | 302 | ||
Shareholders' Equity | INR bil | 5.02 | 33.3 | 44.5 | ||
Of Which Minority Interest | INR bil | 0 | 0 | 0 | ||
Liabilities | INR bil | 0.253 | 164 | 258 | ||
Interbank Borrowing | INR bil | 0 | 0.098 | 0.249 | ||
Customer Deposits | INR bil | 0 | 121 | 232 | ||
Sight Deposits | INR bil | 0 | 2.35 | 14.5 | ||
Term Deposits | INR bil | 0 | 119 | 218 | ||
Issued Debt Securities | INR bil | 0 | 30.5 | 10.3 | ||
Other Liabilities | INR bil | 0.253 | 12.7 | 15.1 | ||
asset quality | ||||||
Non-Performing Loans | INR bil | ... | 0.188 | 0.863 | ||
Gross Loans | INR bil | ... | 124 | 169 | ||
Total Provisions | INR bil | ... | 0.085 | 0.251 | ||
growth rates | ||||||
Customer Loan Growth | % | ... | ... | 35.4 | ||
Total Asset Growth | % | ... | 3,650 | 53.0 | ||
Shareholders' Equity Growth | % | ... | 565 | 33.3 | ||
Customer Deposit Growth | % | ... | ... | 92.2 | ||
market share | ||||||
Market Share in Customer Loans | % | 0 | 0.156 | 0.204 | ... | |
Market Share in Total Assets | % | 0.005 | 0.157 | 0.213 | ... | |
Market Share in Customer Deposits | % | 0 | 0.132 | 0.218 | ... |
ratios | Unit | 2014 | 2015 | 2016 | 2017 | 2018 |
ratios | ||||||
ROE | % | ... | 14.4 | 28.6 | ||
ROA | % | ... | 2.71 | 4.45 | ||
Costs (As % Of Assets) | % | ... | 6.07 | 4.12 | ||
Costs (As % Of Income) | % | ... | 56.9 | 36.6 | ||
Capital Adequacy Ratio | % | ... | 29.0 | 26.4 | ... | |
Tier 1 Ratio | % | ... | 26.7 | 24.8 | ... | |
Net Interest Margin | % | ... | 9.20 | 9.62 | ||
Interest Spread | % | ... | 7.71 | 8.51 | ||
Asset Yield | % | ... | 15.6 | 15.6 | ||
Cost Of Liabilities | % | ... | 7.89 | 7.13 | ||
Payout Ratio | % | ... | 0 | 0 | ||
Interest Income (As % Of Revenues) | % | ... | 86.2 | 85.4 | ||
Fee Income (As % Of Revenues) | % | ... | 13.4 | 11.4 | ||
Other Income (As % Of Revenues) | % | ... | 0.413 | 3.23 | ||
Equity (As % Of Assets) | % | 95.2 | 16.9 | 14.7 | ||
Loans (As % Of Deposits) | % | ... | 103 | 72.5 | ||
Loans (As % Assets) | % | 0 | 63.0 | 55.7 | ||
NPLs (As % Of Loans) | % | ... | 0.151 | 0.512 | ||
Provisions (As % Of NPLs) | % | ... | 45.5 | 29.1 | ||
Provisions (As % Of Loans) | % | ... | 0.069 | 0.149 | ||
Cost of Provisions (As % Of Loans) | % | ... | 0.857 | 0.548 |
other data | Unit | 2014 | 2015 | 2016 | 2017 | 2018 |
other data | ||||||
Employees | ... | ... | ... | ... | ||
Sight (As % Of Customer Deposits) | % | ... | 1.94 | 6.25 |
Get all company financials in excel:
Bandhan Bank has been growing its revenues and asset by 72.5% and 41.9% a year on average in the last 3 years. Its loans and deposits have grown by 47.2% and 52.9% a year during that time and loans to deposits ratio reached 91.7% at the end of 2018. The company achieved an average return on equity of 22.3% in the last three years with net profit growing 92.1% a year on average. In terms of operating efficiency, its cost to income ratio reached 32.1% in 2018, compared to 34.9% average in the last three years.
Equity represented 19.8% of total assets or 28.3% of loans at the end of 2018. Bandhan Bank's non-performing loans were 2.04% of total loans while provisions covered some 72.1% of NPLs at the end of 2018.
Bandhan Bank stock traded at INR 526 per share at the end of 2018 resulting in a market capitalization of USD 8,996 mil. Over the previous three years, stock price rose by 0% or 0% a year on average. That’s compared to an average ROE of 22.3% the bank generated for its shareholders. This closing price put stock at a 12-month trailing price to earnings (PE) of 32.2x and price to book value (PBV) of 5.61x in 2018.