Bandhan Bank share price rises 3% after Q2 total deposits jump 27% YoY | News on Markets

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Bandhan Bank share price rises 3% after Q2 total deposits jump 27% YoY | News on Markets

2 min read Last Updated : Oct 07 2024 | 11:56 AM IST

Bandhan Bank share price: Shares of private lender Bandhan Bank rose as much as 2.88 per cent to an intraday high of Rs 192.30 per share on Monday, October 07, 2024.

The uptick in Bandhan Bank share price came after the company announced a strong set of business updates in the September quarter of financial year 2025 (Q2FY25).

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The banks’ loans and advances grew 21.4 per cent to Rs 1.31 lakh crore in Q2FY25, from Rs 1.07 lakh crore in the same quarter a year ago (Q2FY24)

Total deposits soared a little over 27 per cent to Rs 1.42 lakh crore in the September quarter of financial year 2025, as opposed to Rs 1.12 lakh crore in the September quarter of financial year 2024.

Meanwhile, retail deposits (including CASA) jumped 16.4 per cent annually to Rs 96,603 crore. CASA ratio, however, declined to 33.2 per cent in Q2FY25, from 38.5 per cent in Q2FY24.

Furthermore, the board of directors have approved extension of term of Ratan Kumar Kesh as interim managing director (MD) and chief executive officer (CEO) for a 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 nationwide presence, the bank offers a comprehensive range of banking products and services tailored for both microfinance and general banking needs.

The organisation originated as Bandhan Financial Services Pvt. Ltd. (BFSL) in 2006, where it became the largest NBFC-MFI in India before transitioning to a full-fledged bank.

In 2015, Bandhan Bank began operations following the transfer of BFSL’s entire microfinance portfolio after receiving a banking licence from the RBI.

As of September 2017, Bandhan Financial Services Ltd. ceased all operations and re-registered with the RBI as an NBFC-CIC-ND-SI. Currently, BFSL’s only business focus is 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 per cent lower at 81,610.47 levels.

First Published: Oct 07 2024 | 11:51 AM IST