Bandhan Bank - October 8, 2020 - Angel Broking

Mr. Jaikishan Parmar - Sr. Equity Research Analyst, Angel Broking Ltd

"Bandhan Bank reported provisional numbers for Q2FY21. Advance grew 20% YoY & 3.2% QoQ. Deposit grew at a healthy rate 34% YoY & 9% QoQ. CASA deposit grew 56% YoY. CASA ratio grew increased by 530bps to 38.2%. During the quarter the Bank reduced minimum interest rate on saving bank deposits from 4 % p.a. to 3% p.a. The September collection efficiency was at 92% and 89% was for microfinance. For the Mortgage and other segment collection efficiency was at 98%. Currently, it trades at 3.21x of trailing book value. Positives in provisional number are deposit growth and collection efficiency."

Shares of Bandhan Bank Ltd was last trading in BSE at Rs.314.5 as compared to the previous close of Rs. 306.05. The total number of shares traded during the day was 1166057 in over 22146 trades.

The stock hit an intraday high of Rs. 315.4 and intraday low of 302.85. The net turnover during the day was Rs. 361746932.

Source : Equity Bulls

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