Bandhan Bank jumps on planning to open 551 more branches in FY23
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Bandhan Bank is currently trading at Rs. 300.40, up by 4.70 points or 1.59% from its previous closing of Rs. 295.70 on the BSE.
The scrip opened at Rs. 298.80 and has touched a high and low of Rs. 302.20 and Rs. 295.00 respectively. So far 404844 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 349.50 on 17-May-2022 and a 52 week low of Rs. 229.65 on 27-Dec-2021.
Last one week high and low of the scrip stood at Rs. 302.20 and Rs. 273.50 respectively. The current market cap of the company is Rs. 48308.31 crore.
The promoters holding in the company stood at 39.99%, while Institutions and Non-Institutions held 42.77% and 17.25% respectively.
Bandhan Bank is planning to open 551 more branches in the 2022-23 fiscal (FY23), as a part of the lender's focus to make its distribution stronger in other parts of India outside the eastern region. With the latest addition, the Kolkata-headquartered bank's branch count will exceed 6,000.
Besides, the bank's push for digital and tech transformation has been a great success, with 92 per cent of the total transactions taking place through the digital route. The Bank will continue to expand its product portfolio, having recently added mutual funds to the lender's list of offerings.
Bandhan Bank is an Indian banking and financial services company headquartered in Kolkata, West Bengal. Bandhan, which started as a micro-finance company in 2001, received banking licence by Reserve Bank of India in 2014.
