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Logs a better 2Q than peers, but rising MFI stress still concerning Bandhan Bank reported a 6% PAT beat at Rs9.4bn and RoA of 2.1%, mainly led by higher other income and lower than expected provisions – better than some peers that posted sharp earning downgrades. The bank has logged a healthy AUM growth of 22% YoY/4% QoQ, supported by growth in its secured loan portfolio (~47% of loans). Deposits too grew swiftly, by 27% YoY/7% QoQ, leading to contraction in LDR by 282bps to 88%, whi...
Reduce Bandhan Bank Ltd For Target Rs.175 By Emkay Global Financial Services
Indian lenders are bracing for another wave of defaults in their microfinance portfolios in the second half of the fiscal year after the banking regulator recently further tightened rules for such loans, four bankers said. The default rates in microfinance loans -- collateral-free loans to those with annual income of up to 300,000 rupees ($3,556) -- had already jumped, as evidenced in the July-September results of IndusInd Bank, Kotak Mahindra Bank, RBL Bank and Bandhan Bank. The ...
Indian banks` microfinance loan stress to persist after new, informal regulation, bankers say
Bandhan Bank is currently trading at Rs. 183.10, up by 14.80 points or 8.79% from its previous closing of Rs. 168.30 on the BSE. The scrip opened at Rs. 176.25 and has touched a high and low of Rs. 184.40 and Rs. 174.00 respectively. So far 1157175 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 263.15 on 04-Jan-2024 and a 52 week low of Rs. 167.35 on 25-Oct-2024. Last one week high and low of the scrip stood a...
Bandhan Bank jumps as its Q2 net profit rises 30% to Rs 937.45 crore
Leadership clarity and CGFMU outcomes are positives Bandhan Bank today announced that RBI has approved the appointment of Mr. Partha Pratim Sengupta as MD&CEO of the bank for a period of 3 years. He is expected to take charge before 10th November, 2024. Mr. Sengupta was earlier MD&CEO of Indian Overseas Bank until December 2022. Mr. Sengupta has also served as Deputy Managing Director and Chief Credit Officer of State Bank of India earlier. He was also the Chairman of the Corporate...
Buy Bandhan Bank Ltd For Target Rs. 260 By Yes Securities Ltd.
Bandhan Bank is currently trading at Rs. 188.05, up by 1.15 points or 0.62% from its previous closing of Rs. 186.90 on the BSE. The scrip opened at Rs. 190.00 and has touched a high and low of Rs. 192.30 and Rs. 187.80 respectively. So far 283093 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 263.15 on 04-Jan-2024 and a 52 week low of Rs. 169.45 on 04-Jun-2024. Last one week high and low of the scrip stood at ...
Bandhan Bank rises on logging growth of 21% in loans and advances during Q2FY25
Bandhan Bank Ltd Buy Bandhan Bank Ltd @ 206.50-207.50 Target 209.80 Stop Loss 204.80 Delhi Land & Finance Ltd Buy Delhi Land & Finance Ltd @ 863-864 Target 872.00 Stop Loss 859.70 Please refer disclaimer at https://secure.icicidirect.com/Content/StaticData/Disclaimer.html SEBI Registration number INZ000183631
Stock Picks : Bandhan Bank Ltd And Delhi Land & Finance Ltd By ICICI Direct
Below the Views on RBI Monetary Policy Committee August 2024 By Siddhartha Sanyal, Chief Economist and Head of Research, Bandhan Bank "The status quo on the repo rate is no surprise. The central bank was emphatic to underscore their commitment for further disinflation. They seem to be in no hurry to cut rates. While RBI closely watches the heightened volatility in financial markets globally, it rightly avoids any knee-jerk reaction. Given India’s generally s...
Views on RBI Monetary Policy Committee August 2024 By Siddhartha Sanyal, Chief Economist and Head of Research, Bandhan Bank
Bandhan Mutual Fund has launched Bandhan Nifty Bank Index Fund, an open?ended scheme tracking Nifty Bank Index. The NFO opens for subscription on August 08, 2024 and closes on August 22, 2024. The Entry load is nil for the scheme. The Exit load will be 0.25% - if redeemed on or before 15 days from the allotment date and Nil - if redeemed after 15 days from the allotment date. The minimum subscription amount is Rs 1000/- and in multiples of Re. 1/- thereafter. The performance of the Scheme ...
Bandhan Mutual Fund introduces Nifty Bank Index Fund
Bandhan reported a steady quarter with PAT at INR 10.6bn (+47.5% QoQ) on the back of a) healthy growth in NII (+20.7% YoY, +4.8% QoQ, +4.5% JMFe), b) moderation in opex growth (-7.6% QoQ, +21.2% YoY), and c) lower than expected credit costs at 1.9% (vs 2.55% YoY). One notable development during the quarter was a sharp reduction in CRAR to 15% (vs 18.3% QoQ) which mgmt. explained was due to the impact of adjustment in risk weights for EEB book from 75% to 125%. Mgmt. explained that this was a ...
Buy Bandhan Bank Ltd For Target Rs.260 By JM Financial Services
Bandhan Bank is currently trading at Rs. 214.55, up by 22.10 points or 11.48% from its previous closing of Rs. 192.45 on the BSE. The scrip opened at Rs. 203.80 and has touched a high and low of Rs. 215.50 and Rs. 200.30 respectively. So far 3678032 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 263.15 on 04-Jan-2024 and a 52 week low of Rs. 169.45 on 04-Jun-2024. Last one week high and low of the scrip stood ...
Bandhan Bank zooms on reporting 47% rise in Q1 net profit
RBI appoints Additional Director to the board of the bank Bandhan Bank has announced that RBI has appointed Shri Arun Kumar Singh as an additional director (exercise of powers conferred under Section 36AB of the Banking Regulation Act, 1949) to the Board of Directors of the bank for a period of 1 year beginning June 24th, 2024. In our view, as the bank undergoes leadership transition (current MD&CEO Mr. Ghosh's term ends in July 2024 and board is yet to finalize potential candidate...
Buy Bandhan Bank Ltd For Target Rs. 260 By JM Financial Services
India's Bandhan Bank said on Saturday it has appointed Ratan Kumar Kesh as its interim managing director and chief executive officer with effect from July 10. The Kolkata-based private bank said the appointment is for a period of three months or until a new MD & CEO takes charge. Bandhan Bank said in April that CEO Chandra Shekhar Ghosh would retire on July 9 after spending nearly a decade at the lender. Kesh is currently executive director and chief operating officer at the ...
India`s Bandhan Bank appoints COO as interim CEO
PPoP in line; higher write-off drags down earnings Margins expand 40bp QoQ to 7.6% * Bandhan Bank (BANDHAN) posted 4QFY24 PAT of INR546m (94% miss) due to higher provisions as the bank has technically written off bad loans pertaining to pending CGFMU claim as a prudent measure. NII grew 16% YoY to INR28.7b (7% beat) as margins expanded 40bp QoQ to 7.6%. * Advances grew at a healthy 15.6% YoY/9.9% QoQ. MFI share in the total loan book stood at 50%, with the o/s book size at ~IN...
Neutral Bandhan Bank Ltd. For Target Rs. 200 By Motilal Oswal Financial Services
The Reserve Bank of India has appointed a director on the board of Bandhan Bank, the lender said in a notification to exchanges late on Monday. The central bank and the lender did not specify the reason for the decision. The central bank has the power to appoint directors on the board of a bank under the country's Banking Regulation Act and typically does so to increase oversight of a bank's operations. Arun Kumar Singh, chief general manager at the RBI, will act as additiona...
India cenbank appoints director on Bandhan Bank`s board
CEO announces retirement upon term end Mr. Chandra Shekhar Ghosh, MD and CEO of Bandhan Bank (BANDHAN), has announced his plan to retire from the bank upon the completion of his current term on 9th Jul’24. The bank’s top management team hosted an analyst call to discuss the current developments and the outlook going forward. Here is our view on the announcement: Board to initiate CEO search process Mr. Ghosh’s resignation surprised markets as the board had recentl...
Neutral Bandhan Bank Ltd. For Target Rs.190 - Motilal Oswal Financial Services
Bandhan Bank is currently trading at Rs.199.00, up by 0.90 points or 0.45% from its previous closing of Rs. 198.10 on the BSE. The scrip opened at Rs. 203.55 and has touched a high and low of Rs. 203.55 and Rs. 198.60 respectively. So far 977795 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 272.00 on 01-Jun-2023 and a 52 week low of Rs. 173.45 on 14-Mar-2024. Last one week high and low of the scrip stood at R...
Bandhan Bank rises on reporting growth of 18% in loans and advances during Q4
Bandhan Bank's Managing Director and CEO, Chandra Shekhar Ghosh, illuminated the essence of women's empowerment during his address at the 'Ideas of India' Summit 3.0. Under the theme 'Banking on People Power, The Rise of Financial Freedom,' Ghosh emphasized the pivotal role of financial support in elevating women and nurturing their entrepreneurial spirit. Addressing the evolution of banking amidst the rise of fintech companies, Ghosh emphas...
Bandhan Bank MD & CEO Chandra Shekhar Ghosh sheds light on women empowerment; more women taking lead in family decision-making at 'Ideas of India' Summit 3.0
Below the comment by Mr Chandra Shekhar Ghosh, MD & CEO, Bandhan Bank on Union Budget 2024-25. “The interim budget focuses extensively on inclusive development and is a step forward in the $5 trillion economy aspirations of the nation. The focus on housing sector will benefit a range or peripheral sectors like cements, paints and, steel, among others, and create employment opportunities. The focus on women empowerment will further boost the economy. The emphas...
Union Budget 2024-25 by Mr Chandra Shekhar Ghosh, MD & CEO, Bandhan Bank
ndia's Bandhan Bank said on Tuesday that the National Credit Guarantee Trustee Company (NCGTC) has decided to undertake an audit of loan claims filed by the lender under a guarantee scheme. The bank clarified in an exchange filing that the regulator has not initiated a broader audit. After receiving the first tranche of recovery from the Credit Guarantee Fund of Micro Units (CGFMU), Bandhan Bank had applied for a second tranche of about 12.90 billion rupees ($155.3 million), the len...
India`s Bandhan Bank says loan claims under audit by government agency
Bandhan Bank is currently trading at Rs. 250.10, down by 10.55 points or 4.05% from its previous closing of Rs. 260.65 on the BSE. The scrip opened at Rs. 262.65 and has touched a high and low of Rs. 263.00 and Rs. 248.05 respectively. So far 733647 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 272.00 on 01-Jun-2023 and a 52 week low of Rs. 182.20 on 28-Mar-2023. Last one week high and low of the scrip ...
Bandhan Bank falls despite logging growth of 18.6% in loans and advances during Q3
Risk-reward turning favourable; retain Bandhan Bank saw sharp correction post 2Q results, due to spike in NPAs (mainly from MFI), delay in CGFMU recovery, sub-par industry growth and management saga. But of recent, the stock has seen an upmove (+10%) mainly owing to the recent newsflow around the bank’s plan to sell distressed home loans (of up to Rs7.8bn) to ARC (mainly acquired from Gruh Fin) which should lead to NPA reduction, as & when the sale is concluded. Bank expects CGFM...
Buy Bandhan Bank For Target Rs. 290 - Emkay Global Financial Services
Cybersecurity firm TAC Security on Monday said that the company is exploring capital raising options, including an Initial Public Offering (IPO) in early 2024 and eyeing revenue of Rs 100 crore by 2026. Beeline Capital Advisors Private Limited has been appointed the exclusive Book Running Lead Manager for the proposed IPO, the company mentioned. "We are now embarking on our next growth stage -- aiming for a nearly ten-fold increase in revenues by FY26 through organic growth and ino...
Cybersecurity firm TAC Security to go public, aims for Rs 100 cr revenue by 2026
India's Bandhan Bank on Thursday said that it will sell its stressed home loan portfolio to an asset reconstruction company. The bank has approved the transfer of 7.76 billion rupees ($93.23 million) in home loans, which were overdue by more than 180 days to an asset reconstruction company (ARCs), it said in a release to exchanges. The bank will recover 36% of this amount or 2.8 billion rupees upfront in cash as part of the sale, it said. Banks sell assets to ARCs to help r...
India`s Bandhan Bank sells stressed home loan portfolio
Infibeam Avenues Ltd, a publicly listed fintech company, announces that its flagship payment gateway brand, CCAvenue, is gearing up to introduce Bandhan Bank's EMI facilities to over 10 million plus merchants. This strategic initiative aims to broaden the array of consumer-financing options available within the merchant network, signalling a concerted effort to enhance financial flexibility and convenience for businesses and merchants. CCAvenue is set to integrate Bandhan Bank's cr...
Infibeam Avenues Ltd expands merchant financial landscape through CCAvenue integration with Bandhan Bank's EMI facilitiesInfibeam Avenues Ltd expands merchant financial landscape through CCAvenue integration with Bandhan Bank`s EMI facilities
Deteriorating asset quality, cautious outlook Bandhan Bank operates as a commercial bank, offering checking accounts, savings deposits and money market, mortgage, and term loan services, in addition to card facilities and internet banking services. • In Q2FY24, net interest income (NII) came in at Rs 2,443cr. Net interest margin expanded 20bps to 7.2%. • GNPA/NNPA ratios stood at 7.3% / 2.3% (vs. 6.8% and 2.2% in Q1FY24). • We expect advances and deposits to grow at...
Accumulate Bandhan Bank Ltd Target Rs. 246 - Geojit Financial Services
Despite slower growth, Bandhan Bank reported in-line PAT at Rs7.2bn, mainly owing to lower provisions. Slippages were slightly elevated by 57bps QoQ to 7.3%, due to flood-related impact and higher stress-flow in Assam. CGFMU recovery in 2Q was delayed on account of audit and is expected to flow through in 2HFY24. Separately, the long elusive recovery from the Assam loan-relief scheme has begun, but the quantum remains limited. Bank sees credit cost at ~2% for FY24. Recently, the bank hi...
Buy Bandhan Bank Ltd For Target Rs. 290 - Emkay Global Financial Services Ltd
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