Bandhan Bank reports a 35% year-on-year jump in June-quarter (Q1) profit, attributing the improvement to lower credit provisions and steadier margins. The lender also says asset quality improves as provisioning costs ease. Despite the earnings growth, shares decline sharply after the results, with trading showing a drop of more than 10% in reaction to the quarter’s outlook. Some market participants continue to debate the bank’s recovery trajectory, reflecting concerns raised by a more conservative profitability outlook mentioned by brokerages. The sources also note a management change: Bandhan Bank appoints Vinay Jain as interim CFO, effective from Sept. 26. Overall, the combined coverage presents a picture of stronger headline earnings supported by reduced credit costs, alongside investor caution about forward performance and recovery prospects, which contributes to the post-results selloff.
Bandhan Bank Q1 profit rises 35% as provisions fall; CFO named
Bandhan Bank reports a 35% year-on-year jump in June-quarter (Q1) profit, attributing the improvement to lower credit provisions and steadier margins. The lender also says asset quality improves as pr...
- Bandhan Bank’s June-quarter Q1 profit rises 35% year-on-year.
- The improvement is linked to lower provisions/credit costs and steady margins.
- The bank reports improving asset quality in the quarter.
- Bandhan Bank shares fall by more than 10% after the Q1 results.
- Vinay Jain is named interim CFO, effective from Sept. 26.
Their June quarter results was aided by lower provisions, while brokerages remained divided on the lender's recovery prospects following a more conservative profitability outlook.
5 hours agoTheir June quarter results was aided by lower provisions, while brokerages remained divided on the lender's recovery prospects following a more conservative profitability outlook.
5 hours agoLower credit costs and steady margins lift June-quarter earnings, while the lender names Vinay Jain as interim CFO from Sept. 26.
21 hours agoLower credit costs and steady margins lift June-quarter earnings, while the lender names Vinay Jain as interim CFO from Sept. 26.
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