The shares of Bandhan Bank zoomed more than 11 per cent after RBI cleared the new MD and CEO of Bandhan to take charge of the bank.
The stock opened at Rs 202.00 per share on the BSE (Bombay Stock Exchange), 7.6 per cent higher than the closing level of the previous trading session.
The shares went on to touch the day high level of Rs 209.50 after opening at with good sentiments from investors.
The Bandhan Bank shares were currently trading at Rs 207.90 per share on the Bombay Stock Exchange (BSE), with a surge of 10.76 per cent amounting to Rs 20.20.
On October 9, 2024, Partha Pratim Sengupta accepted the role. On October 10, he declared on October 10 that he would dissolve his other obligations in accordance with the RBI's guidelines. Starting on November 10, 2024, he will serve a three-year term.
As soon as the bank's Nomination and Remuneration Committee gives its approval, the appointment will be confirmed.
Forensic audit thorugh NCGTC
The National Credit Guarantee Trustee Company (NCGTC) has finished a thorough forensic audit of Bandhan Bank's claims made under the Credit Guarantee Fund for Micro Units (CGFMU) programme, the bank announced. The entire assessed payout as of March 31, 2024, is Rs 1,231.29 crore.
In December 2022, the bank had already received Rs 916.61 crore. According to Bandhan Bank's statement, the total payout as of March 2024, with this initial claim settled, is Rs 314.68 crore.
Bandhan bank Q1 FY25
Compared to the same period last year, Bandhan Bank's consolidated net profit increased by 47 per cent to Rs 1,063 crore in the Q1 FY24.
Net interest income (NII) for the lender increased by 21 per cent year over year to Rs 3,005 crore for the reporting quarter from Rs 2,491 crore in the corresponding quarter of the previous year.
Regarding asset quality, gross non-performing assets (NPA) of the bank increased year over year from 6.8 per cent in Q1 FY24 to 4.2 per cent in Q1 FY25. Net NPAs also decreased, falling to 1.1 per cent in Q1 FY25 from 2.2 per cent in the previous year.
