Published: 18th Oct 2024
By: Value Research
Bandhan Bank's journey has been rough. Since its 2018 IPO peak of Rs 742, the stock has plummeted 20 per cent annually over five years. Adding to its woes, the bank’s gross NPAs (non-performing assets) also soared to 10 per cent during the Covid-19 crisis.
But the bank recently witnessed a single-day jump of 12 per cent, which aroused investor interest. Two key developments drove this upward movement. Swipe to know.
Partha Sengupta was recently appointed as the bank's new MD and CEO. He brings valuable expertise and over four decades of banking experience, including in West Bengal (Bandhan's core region). The stock jumped the very next day after this announcement.
On the same day as the CEO announcement, Bandhan received good news from NCGTC. Following a forensic audit, the bank is set to receive Rs 310 crore as a payout for bad loans incurred during Covid.
Despite the positive news, challenges loom for the bank. Thin profit margins, lower capital buffer and better peers. Is Bandhan ready to overcome these obstacles? For our full analysis of the bank, click the link below:
Other Webstories
To find more such stories & Web-stories, visit our website