Bandhan Bank slips 10% to hit lowest level this year on weak Q2FY23

Analysts believe that though balance sheet restructuring in progress, the operationally weak performance and uncertainty on stressed pool remains an overhang

Shares of Bandhan Bank slipped 10 per cent and hit 10-month low of Rs 244.55 per share in Monday’s intra-day trade after the private sector lender reported a weak operational performance for the quarter ended September 2022 (Q2FY23). The stock traded at its lowest level in calendar year 2022 (CY22).

Furthermore, the private sector lender’s net interest income (NII) was up 13.3 per cent year-on-year (YoY) and declined 12.8 per cent quarter-on-quarter (QoQ) to Rs 2,193 crore, mainly due to fall in margins. Net interest margins (NIMs), meanwhile, declined by 100 bps QoQ to 7 per cent, as yields