Bandhan Bank - Q2FY21 Result - Angel Broking

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

Bandhan Bank reported a moderate set of numbers for Q2FY21. AUM grew by 19.4% YoY and MFI book grew by 27% YoY (4.8% QoQ). NII grew by 26% YoY which higher than AUM growth. NIM declined by 20 BPS to 8% owing to higher liquidity. Pre-provision income grew by 24.5%. PAT declined 5.3% YoY primarily owing to escalated provision cost. On the liability front, banks continue to report strong growth, led by ~60% YoY growth in SA deposits. CASA ratio improved 533bps/115bps to 38.2%. Asset quality stable however, the correct picture emerges post Q3FY21. Collection efficiency was 89% for the micro-banking segment in September, further improved to 91% by October end. An Investor would like to watch a slippage percentage from the moratorium book and restructuring request till December end.

Shares of Bandhan Bank Ltd was last trading in BSE at Rs.300.85 as compared to the previous close of Rs. 289.25. The total number of shares traded during the day was 689024 in over 10951 trades.

The stock hit an intraday high of Rs. 307.9 and intraday low of 292.85. The net turnover during the day was Rs. 207923133.

Source : Equity Bulls

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