India's Bandhan Bank up on quarterly rise in loans and deposits

Bandhan Bank

05/04/2024 05:45

** Shares of Bandhan Bank  BANH.NS  rise as much as 2.6% to
203 rupees
    ** Stock among top gainers in Nifty Bank index  .NSEBANK ,
which is marginally up 
    ** Lender reported 17.8% Y/Y growth in loans and advances
and 25.1% rise in total deposits in March quarter
    ** "The collection efficiency in the microfinance portfolio
improved to 99% in March 2024, compared to 98% in Dec. 2023,
suggesting a likely moderation in slippage run-rate in the
fourth quarter" - Nomura 
    ** Nomura reiterates "buy" on BANH, with TP of 275 rupees 
    ** Analysts' avg rating on BANH is "buy"; median PT is 260
rupees - LSEG data
    ** More than 15.4 mln shares change hands as of 10:06 a.m.
IST, 1.3x the 30-day avg - LSEG data





 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))