Company Update : Bandhan Bank by Motilal Oswal Financial Services Ltd
Loan growth at 4.8% QoQ (above estimate); deposit growth in line
BANDHAN released its quarterly business update, highlighting the key trends for 2QFY26:
* Gross advances (on book + PTC) grew 4.8% QoQ (up 7.2% YoY) to ~INR1.4t, ahead of our estimate of 4.7% YoY/2.7% QoQ growth.
* Deposits grew 2.1% QoQ (up 10.9% YoY), in line with our estimate of 11.1% YoY/2.4% QoQ. CASA deposits grew 5.6% QoQ (down 6.5% YoY). Thus, the CASA ratio improved to 28% (from 27.1% in 1QFY26).
* Retail deposits (including CASA) surged 6.9% QoQ (up 16.7% YoY). The proportion of retail deposits increased to 71.4% (from 68.2% in 1QFY26). LCR for the bank was robust and stood at 152.7%.
* On the asset quality front, overall CE stood broadly at the same level of 98%, with collection efficiency in the EEB segment standing at 97.8% and the NonEEB segment at 98.5%.
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