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Bandhan Bank share price: Shares of private lender Bandhan Bank rose 2.88 percent to hit an intraday high of Rs 192.30 per share on Monday, October 7, 2024.
The rise in Bandhan Bank’s share price came after the company announced a series of business updates during the September quarter of financial year 2025 (Q2FY25).
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Loans and advances from banks increased by 21.4% to Rs 1.31 lakh crore in Q2FY25, compared to Rs 1.07 lakh crore in the same quarter a year ago (Q2FY24)
Total deposits climbed a little over 27 percent to Rs 1.42 lakh crore in the September quarter of FY25, compared to Rs 1.12 lakh crore in the September quarter of fiscal year 2024.
Meanwhile, retail deposits (including CASA) jumped 16.4 percent annually to Rs 96,603 crore. The CASA ratio, however, declined to 33.2 percent in Q2FY25 from 38.5 percent in Q2FY24.
Further, the Board of Directors approved the extension of the tenure of Ratan Kumar Kesh as Acting Managing Director (MD) and Chief Executive Officer (CEO) by one month, with effect from October 10.
Established in 2014, Bandhan Bank is a commercial bank committed to serving underbanked and underserved markets across India. With a national presence, the bank offers a comprehensive range of banking products and services tailored to both microfinance and general banking needs.
The organization was born as Bandhan Financial Services Pvt. Ltd. (BFSL) in 2006, where it became the largest MFI-NBFC in India before becoming a full-fledged bank.
In 2015, Bandhan Bank started operations following the transfer of the entire microfinance portfolio from BFSL after receiving a banking license from the RBI.
Since September 2017, Bandhan Financial Services Ltd. ceased all operations and re-registered with the RBI as NBFC-CIC-ND-SI. Currently, BFSL’s only activity is focused on investments. Bandhan Financial Holdings Limited (BFHL) operates as a wholly owned subsidiary of BFSL. The Group’s current entities include Bandhan Bank Ltd., Bandhan Mutual Fund, Bandhan Financial Services Ltd. and Bandhan Life.
At 11:43 am, shares of Bandhan Bank were trading marginally lower at Rs 186.80 per share. In comparison, BSE Sensex was trading 0.10 percent lower at 81,610.47 levels.
First publication: October 7, 2024 | 11:51 a.m. STI