2 min read Last updated: October 7, 2024 | 11:56 AM IST
Bandhan Bank Stock Price: Private financial company Bandhan Bank’s stock price rose by 2.88 percent to an intraday high of Rs 192.30 per share on Monday, October 7, 2024.
Bandhan Bank’s share price rise came after the company announced a series of strong business updates for the September quarter of fiscal 2025 (2QFY25).
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Bank loans and advances stood at Rs 1.31 billion in Q2 FY25, up 21.4% from Rs 1.07 billion in the same period last year (Q2 FY24).
Total deposits increased by over 27% to Rs 1.42 billion in the September quarter of FY2025, as against Rs 1.12 billion in the September quarter of FY2024.
Meanwhile, retail deposits (including CASA) grew by 16.4% annually to Rs 96,603 crore. However, the CASA ratio declined from 38.5% in 2QFY24 to 33.2% in 2QFY25.
Additionally, the Board of Directors approved the extension of the term of Mr. Ratan Kumar Kesh as Interim Managing Director (MD) and Chief Executive Officer (CEO) by one month from October 10th.
Founded in 2014, Bandhan Bank is a commercial bank focused on serving underbanked and underserved markets across India. With locations across the country, the bank offers a comprehensive range of banking products and services for both microfinance and general banking needs.
The organization was incorporated as Bandhan Financial Services Pvt. It became India’s largest NBFC-MFI in 2006 and later transitioned into a full-fledged bank.
In 2015, after receiving a banking license from the RBI, Bandhan Bank transferred the entire microfinance portfolio of BFSL and began operations.
As of September 2017, Bandhan Financial Services Ltd. ceased all operations and was re-registered with RBI as NBFC-CIC-ND-SI. Currently, BFSL’s business focus is solely 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.
As of 11:43 am, Bandhan Bank shares were marginally lower at Rs 186.80 per share. In comparison, BSE Sensex was trading 0.10% lower at 81,610.47 levels.
First publication date: October 7, 2024 | 11:51 AM IST
