Bandhan Bank shares rally over 13% after June quarter earnings

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Bandhan Bank shares made gap up opening, breaking the falling channel line to the upside following the release of its quarterly results. The Nifty bank index is up more than 1.5% because of better than expected first quarter results, due to rapid loan growth and healthy core lending income.

On year over year basis, bank’s total deposit was up 23%, while total advances were up 22%. Bandhan bank’s loans and advances grew by 21.8% Y-o-Y supported by all round growth across verticals, whereas deposits grew 22.8% Y-o-Y, higher than the advances growth. Deposit on quarterly basis has fallen by 1.4%. Deposit has seen 9% rise from q-o-q in term deposit from retails to Rs. 476.5 billion, while rails saving bank deposit has witnessed fall of 5% on quarterly basis. Saving deposit in this digital age is considered more vulnerable and a big amount can enters and get withdraws from bank in no time. Term deposit from others sources has seen miniscule fall of 0.07% on quarterly basis. CASA ratio on yearly basis has fallen by 2.6% whereas the ratio has fallen by 3.7% on quarterly basis. Bank has launched 500 odd branches over the last 18 months, which should help deliver CASA growth.

Bandhan Bank’s gross NPAs to gross advance was at 4.23% as on 30 June 2024 as compared to 6.76% as on 30 June 2023. Net NPAs to net advances declined to 1.15% as on 30 June 2024 as against 2.18% as on 30 June 2023. Provisions other than tax and contingencies declined to ₹523 crore against ₹602 crore earmarked during the same quarter a year ago. The provision coverage ratio as of 30 June 2024 was at 73.7%.

Location: India

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