The private lender Bandhan Bank's share hit the upper circuit today in the opening hour of the Indian Bourses. The counter was trading at Rs 213.90 The private lender declared their Q1 FY25 on July 26, 2024.
The share price of Bandhan Bank started quoting at Rs. 201.86 per share at opening bell today. The bank has touched a day-high price of Rs 218.20. The bank recorded a life-high price of Rs 741.80 per share.
Brokerages rating upgrade
Jeffreys upgraded Bandhan Bank from "underperform" to "buy," indicating a potential 16 percent upside in the target price of Rs 240 per share, up from Rs 165.
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In addition, CLSA increased its target price from Rs 210 to Rs 240 while keeping its "outperform" rating.
Q1 Financials FY25
Net Profit Q1 FY25
Bandhan Bank declared a net profit of Rs 1,063 crore for the quarter ending June 30, 2024. This represents a 47 percent increase in net profit year over year from Rs 721 crore in the previous year.
NII (Net income income)
Net interest income (NII) increased by 20.7 per cent to Rs 3,005 crore during the quarter under review from Rs 2,490.6 crore during the same period last year.
The bank maintained a stable net interest margin (NIM) of 7.6 per cent over the course of the quarters.
Deposites adequecy ratio
As of June 30, 2024, the bank had total deposits of Rs 1.33 lakh crore, compared to Rs 1.08 lakh crore the previous year. This indicates a 23 percent year-over-year increase and a 1.5 per cent quarter-over-quarter decline.
Bandhan bank exchange fillings |
Gross and net NPA (non-performing assets)
The gross non-performing asset (NPA) of Bandhan Bank rose from 3.84 percent to 4.23 percent on a quarterly basis. According to the bank's regulatory filing, net non-performing assets (NPAs) decreased sequentially from 1.11 per cent to 1.15 per cent.
