Page 5 - Bandhan Bank

LIC Mutual Fund completes the takeover of IDBI Mutual Fund schemes

At the end of June, the AUM of LIC MF and IDBI MF stood at Rs. 18,400 crore and Rs. 3,650 crore, respectively

Societe Generale buys Bandhan Bank shares for Rs 382 cr at Rs 218.60 apiece

Financial services company Societe Generale on Monday bought shares of private lender Bandhan Bank for Rs 382 crore through open market transactions. According to the bulk deal data available with the BSE and National Stock Exchange (NSE), Societe Generale purchased 85.51 lakh shares on the BSE and 89.23 lakh shares on the NSE. The shares were acquired at an average price of Rs 218.60 apiece on both bourses, taking the combined transaction size to Rs 382 crore. Details of the sellers could not be ascertained. Shares of Bandhan Bank rose 3.22 per cent to close at Rs 224.10 on the NSE and gained 2.88 per cent to settle at Rs 223.30 on BSE. In a separate transaction, Plutus Wealth Management acquired 22.10 lakh shares of Eris Lifesciences for Rs 173 crore through open-market transactions. Plutus Wealth Management bought a total of 22.10 lakh shares in two tranches, as per the data available with the NSE. The shares were purchased in the range of Rs 783-783.03 per piece, taking the

BNP Paribas Arbitrage buys Bandhan Bank shares for Rs 187 cr

BNP Paribas Arbitrage on Friday acquired 88.85 lakh shares of private lender Bandhan Bank for Rs 187 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), BNP Paribas Arbitrage bought 88,85,979 shares, amounting to 0.5 per cent stake in the private lender. The shares were purchased at an average price of Rs 211 apiece, taking the aggregate transaction size to Rs 187.49 crore. Details of the sellers could not be ascertained. Shares of Bandhan Bank jumped 3.05 per cent to close at Rs 218.10 per piece on the NSE. Last week, Bandhan Bank reported an 18.7 per cent fall in its net profit at Rs 721 crore in the June quarter due to a decline in net interest income. The Kolkata-based private sector lender had posted a net profit of Rs 887 crore in the year-ago period. Total income during the quarter under review increased to Rs 4,908 crore from Rs 4,385 crore in FY2023, while the interest earned by the bank grew to Rs

Sensex adds 529pts, ends near 66,600; Nifty at 19700; SBI up 3%, HDFC Bk 2%

CLOSING BELL on July 17: The benchmark S&P BSE Sensex notched a new high of 66,656 in the intra-day trade, while the Nifty50 hit a new record high of 19,732

Stocks to watch: HDFC Bank, Bandhan Bank, LTIMindtree, Angel One, D-Mart

Stocks to watch on July 17, 2023: From HDFC Bank to Angel One, here are the top stocks to watch in Monday's trading session

Bandhan Bank Q1 FY24 results: Net profit declines 19% to Rs 721 crore

Bandhan Bank on Friday reported an 18.7 per cent fall in net profit at Rs 721 crore in the June quarter due to a decline in net interest income. The Kolkata-based private sector lender had posted a net profit of Rs 887 crore in the year-ago period. Total income during the quarter under review increased to Rs 4,908 crore from Rs 4,385 crore in FY2023, Bandhan Bank said in a regulatory filing. Interest earned by the bank grew to Rs 4,523 crore over Rs 4,055 crore in the June quarter a year ago. Net Interest Income of the bank declined to Rs 2,491 crore in Q1 FY24 as compared to Rs 2,514 crore in the same quarter a year ago. The bank's asset quality showed improvement as gross Non-Performing Assets (NPAs) declined to 6.76 per cent of gross advances by the end of June 2023, from 7.25 per cent as of June 2022. However, net NPAs or bad loans rose to 2.18 per cent as against 1.92 per cent a year ago. Capital Adequacy Ratio of the bank improved to 19.75 per cent from 19.44 per cent in t

Sensex ends 33 pts down in choppy trade; HDFC duo drops 3%, Maruti up 3.5%

Closing Bell on July 5, 2023: The Nifty50 ended at 19,399 level, up 10 points or 0.05 per cent, rising for a seventh consecutive session

Stocks to Watch today, July 5: LTIMindtree, Bandhan Bk, Lupin, Adani Power

Stocks to Watch on Wednesday, July 5: LTIMindtree will replace HDFC in the benchmark Nifty50 index, while LIC Housing Finance will likely replace it in the Nifty Financial Services index

Bandhan Bank CFO Sunil Samdani resigns with effect from September 30

Samdani, a key managerial personnel (KMP), was with Bandhan since its inception as a universal bank in 2015

Commercial banks post steady YoY growth in credit in first quarter of FY24

Kolkata-based Bandhan Bank expanded loan and advances by 6.7 per cent YoY to Rs 1.03 trillion

Bandhan Bank triples number of branches to 1,500 in less than 8 years

Private lender Bandhan Bank on Wednesday said it has trebled its branches in nearly eight years of its operations, totalling 1,500 at present. A statement said the bank now has a network of 4,500 banking outlets besides branches across the country. The Kolkata-based bank started operations with 501 branches on August 23, 2015. Presently, it is spread across 34 states and UTs. It said that the lender is committed to fulfilling the diverse financial needs of people with tailored products to suit everyone's needs through physical or digital channels. MD and CEO of the bank, Chandrasekhar Ghosh, said, "India needs deeper financial penetration so that access to banking is available to everyone." The bank has diversified its asset base and expanded its geographical presence beyond its traditional regions, the east, and the northeast, with an even mix of rural and urban markets, the statement added. The MFI-turned-lender is also increasing the share of secured loans in its asset portfo

SBI, PNB, Bandhan Bank: Trading strategies in bank stocks post Q4 results

Nifty Bank index may rise up to 2.25% once hits a new historic peak, shows technical charts

Bandhan Bank Q4 results: Net profit falls 57.5% to Rs 808 crore

Net interest income (NII) for the quarter grew by 18.8 per cent to Rs 2,472 crore as against Rs 2,080 crore in Q3 FY23

Bandhan Bank's total deposits rise 12.2% at Rs 1.08 trn in Q4FY23

Bandhan Bank's total deposits in the fourth quarter of last fiscal stood at Rs 1,08,069 crore, registering a rise of 12.2 per cent over the same period a year ago, the private lender said. Loans and advances during the quarter ended March 31 was at Rs 1,09,112 crore, reflecting a year-on-year growth of 9.8 per cent, it said in a release. Collection efficiency of micro-lending during the period under review came in at 98.5 per cent as against 98 per cent a year ago. The Kolkata-based bank said its current account, savings account (CASA) in the quarter to March stood at Rs 42,471 crore, representing a growth of six per cent over the corresponding period a year ago. Bulk deposits were at Rs 31,125 crore compared with Rs 21,890 crore in the fourth quarter of 2021-22, registering a growth of 42.2 per cent. The loan coverage ratio (LCR) of the bank stood at 157 per cent during the reporting period, the release added.

From Bandhan Bank to Ashok Leyland, stocks ripe for cherry-picking

With indices getting back on their feet, can stocks be far behind? Here is the list of 10 such stocks from BSE 100 with huge upside promise for investors willing to ride out any potential volatility

Private lender Bandhan Bank adds 50 new branches to its existing network

Private lender Bandhan Bank on Friday said it has added 50 more branches to its existing network of around 1350 others across the country. The majority of the new branches opened are in Bihar, Gujarat and Madhya Pradesh, the Kolkata-based bank said in a statement. It said that the spread of the new branches is a testament to the bank's commitment to expand its reach across the country and serve the needs of all segments of customers. The bank is also well on its journey of diversification of asset book and geographical presence. It also plans to introduce new products and increase the width of services in the next financial year, the statement added. Chandra Shekhar Ghosh, MD and CEO of the bank, said, "Our country needs a deeper penetration of banking outlets to ensure that everyone has access to banking. Bandhan Bank is committed to being a bank for all and we are invested in increasing our presence to serve all kinds of customers".

Bandhan Bank crashes to 3-year low on heavy volumes

The stock has slipped 6% to Rs 185.45 and trades at its lowest level since April 2020.

IDFC Mutual Fund rebrands itself as Bandhan MF, fund house unveils new logo

The ninth-largest fund house's schemes to reflect the new name from Monday

I-T benefits in union budget to propel deposit growth: Bandhan Bank MD

The income tax concessions proposed in the Union budget will promote more savings and propel growth in deposits, which in turn, will help the banking industry, Bandhan Bank Managing Director and Chief Executive Officer Chandra Shekhar Ghosh said on Wednesday. In her budget speech, Union Finance Minister Nirmala Sitharaman announced no tax for those with an annual income of up to Rs 7 lakh under the new tax regime but made no changes for those who continue in the old regime that provides for tax exemptions and deductions on investments and expenses such as HRA. "For the last year, we have witnessed that the deposit growth is less than normal. The new tax norms proposed in the budget will encourage people to save more, and in turn, it will normalise the growth in deposits. It indeed will help the banking industry. When the deposit growth increases, the credit flow also increases," he said. In what is being seen as a push for the salaried class taxpayer to switch to the new tax regime

New tax rates will raise purchasing power of middle class: Bandhan Bank CEO

The revision in income tax rates will increase the purchasing power of the middle class sections of the society, Bandhan Bank's Chief Executive Chandra Sekhar Ghosh said