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Stock Market todays: Bandhan Bank stock terms declined 2% during the intraday trades connected Thursday. While the Bandhan Bank stock terms opened astatine ₹210.25 somewhat little than erstwhile adjacent of ₹211.13, it did summation up to ₹214.60 connected the NSE, with emergence successful the benchmark indices. The stock terms nevertheless dipped to lows of ₹206.16, astir 2% lower, arsenic the quarterly updates showed sequential diminution successful deposits during the June'2024 quarter.
Loans amusement steadfast maturation , deposits dip sequentially
As per Bandhan Bank 1QFY25 Pre results quarterly updates reported connected the exchanges, its full deposits declined 1.5% sequentially to ₹133,203 crore adjacent though they were up 22.8% year-on-year. Bandhan Banks filing connected the exchanges besides said that its CASA deposits during the June'2024 astatine ₹44,453 crore declined 11.4% sequentially though increasing 13.8% year-on-year.
Bandhan Banks Retail Deposits (including CASA) astatine ₹92,104 though up 19.2 % twelvemonth connected twelvemonth , were down 1.8% sequentially portion Bulk deposits astatine ₹41,099 crore though up 13.6% y-o-y besides were down 0.7% sequentially .
The affirmative nevertheless was the steadfast maturation successful loans witnessed by the Bandhan Bank successful seasonally anemic quarter. The Loans & Advances (On publication + Off Book + PTC) arsenic per Bandhan Bank astatine astir ₹125,619 crore grew 21.8% twelvemonth connected twelvemonth and 0.7% sequentially.
However with diminution successful deposits the ratios did spot immoderate impact. The Retail to Total Deposits (%) astatine 69.1% came little than 69.4% successful the erstwhile 4th and 71.2% successful the twelvemonth agone quarter
Also Current Account Saving relationship of CASA ratio came astatine 33.4% successful the June 4th compared to 37.1% successful the erstwhile 4th and 36.0 % successful the twelvemonth agone quarter.
Analysts views- Analysts astatine Jefferies India Pvt Ltd said that For Q1FY25, Bandhan Bank saw a steadfast 22% twelvemonth connected twelvemonth indebtedness maturation (17/18% adjusted for base). Despite it being a seasonally anemic quarter, loans roseate 1% sequentially versus 5% past twelvemonth said analysts astatine Jefferies.
Bandhan bank's loan-to-deposit ratio (LDR) roseate by 200 ground points sequentially to 94% portion analysts expected it to autumn . Analysts astatine Jefferies said that the request to little LDR whitethorn beryllium resistance connected indebtedness maturation a spot successful FY25. Collection ratio improved versus past twelvemonth & is simply a affirmative arsenic per analysts. Clarity connected Credit Guarantee Funds for Micro Units (CGFMU) betterment & caller CEO are triggers ahead.
Analysts astatine Motilal Oswal Financial Services Ltd successful their Q1 preview person said that they expect Net involvement borderline moderation to proceed for Bandhan Bank. The Asset prime is simply a cardinal monitorable. While they expect net to stay healthy, expect outgo ratios apt to stay elevated. MOFSL person Neutral ratings connected Bandhan Bank
Disclaimer: The views and recommendations made supra are those of idiosyncratic analysts oregon broking companies, and not of Mint. We counsel investors to cheque with certified experts earlier taking immoderate concern decisions
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HomeMarketsStock MarketsBandhan Bank stock terms down 2% station Q1 concern updates. Loans rise, deposits dip sequentially. Buy, Sell oregon Hold?
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