On a year-on-year basis, deposits grew by 35 percent
Keynotes Financial Opiniery is bullish on Bandhan Bank has recommended buy rating on the stock with a target price of Rs 380 in its research report dated July 01, 2020.
The settlement of the dispute between Kotak Mahindra Bank and RBI over promoter shareholding limit has put the spotlight on such large shareholders of other private lenders, especially the Hindujas of IndusInd Bank
Anand Rathi is bullish on Bandhan Bank has recommended buy rating on the stock with a target price of Rs 281 in its research report dated May 13, 2020.
Private lender Bandhan Bank said on Thursday that recovery of loans extended to micro-credit customers will happen from the second quarter of the 2020-21 fiscal.
Motilal Oswal is bullish on Bandhan Bank has recommended buy rating on the stock with a target price of Rs 350 in its research report dated May 12, 2020.
ICICI Direct is bullish on Bandhan Bank has recommended buy rating on the stock with a target price of Rs 300 in its research report dated May 13, 2020.
In an exclusive interaction with Moneycontrol, Bandhan’s Managing Director and CEO Chandrashekhar Ghosh sounded confident about the bank’s financial performance.
The sequential growth in advances was 9.76 percent, the bank said, adding deposits increased by 32.04 percent YoY (up 3.96 percent QoQ) to Rs 57,082 crore as on March 2020.
Of late, sovereign funds and other overseas investors are increasingly looking at Indian companies as share prices have fallen and these entities look good to global investors from an investment perspective.
The capital adequacy ratio of the bank at the end of March 2020 stood at around 26.7 percent and Tier 1 Common Capital Ratio ratio at around 25.5 percent.
The retail deposits formed bulk of the total deposits at 78.4 percent, which showed an increase of 34 per cent to Rs 44,760 crore as on March 31, 2020, Bandhan Bank said in a regulatory filing.
The nationwide lockdown to fight COVID-19 presents a major crisis for banks with high exposure to the microcredit segment. With many small businesses on the verge of shutting down, loan repayments may stop.
“The current moratorium on deposit withdrawal and capital infusion are just the first steps toward the revival of Yes Bank," Emkay Global said in a recent report, maintaining its sell call on the private sector lender
The investment in equity shares would be completed by March 31, 2020 through cash consideration
NSE also said that ITC will replace Yes Bank in the Nifty50 Value 20 index.
"The bank's exposure to microcredit at present is 61 percent. Over the next three to five years, the bank's ratio of micro and non-microcredit will be 50:50," Ghosh told PTI.
The bank now has a presence in 34 of the 36 states and union territories in India, it has said.
Bandhan Bank is a leader in microfinance institution (MFI) with a market share of around 19 percent by loans and around 18 percent by number of micro borrowers.
HDFC Life Insurance Company, Bandhan Bank and Info Edge will be included in the Futures & Options segment effective February 28.
The share touched its 52-week high Rs 650 and 52-week low Rs 402.20 on 29 October, 2019 and 25 February, 2020, respectively.
Bandhan Bank was barred from expanding its network in September 2018 as it had failed to reduce the promoters' stake to 40 percent within the stipulated three-year period
After the inclusion of these three stocks, the total scrips under the F&O segment will be increased to 143, from 140 earlier.