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Bandhan Bank: Strong Q1 results but slowing economy warrants caution, buy only on dips

July 23, 2019 / 12:04 PM IST
Bandhan Bank: Strong Q1 results but slowing economy warrants caution, buy only on dips

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Bandhan Bank, the youngest bank in India, reported strong Q1 FY20 earnings, with net profit increasing by 46 percent year-on-year (YoY) on the back of solid loan book growth. Bandhan, the first microfinance company to convert into a full-fledged universal bank, is distinct from small finance banks (SFBs). The bank’s performance stands out vis-a-vis the three listed SFBs and even when compared to new private sector banks. So far, Bandhan has been doing fairly well, albeit on a smaller base,...

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