The Nifty index was trading 0.82 per cent down at 28995.05. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. Total deposits during the quarter advanced 30 per cent to Rs 71,188 crore as against Rs 54,908 crore in the corresponding period last year, the lender said in a statement. Of the 25 analysts tracking the company, 21 have a ‘buy’ rating and two each suggest a ‘hold’ and a ‘sell’. Bandhan Bank’s net profit for the third quarter ended on December 31, 2020 fell by 13.5 per cent to Rs 623.6 crore, the private lender announced on Thursday. You can switch off notifications anytime using browser settings. The Kolkata-based private lender reported its net profit at Rs 633 crore as against Rs 731 crore for the year ago period. Private banks report healthy deposit accretions, sluggish advances growth in Q3. Microlender-turned-universal bank Bandhan Bank was the only one which showed a surge in loan book, which grew 23 per cent on an annual basis to Rs 80,255 crore, while in case of IndusInd Bank and IDFC First Bank, the growth has been marginal. The bank said it has made additional Covid-related provision of Rs 2100 crore covering 2.8% of its portfolio, and it might not need to top it up substantially going forward if the current repayment trend continues, bank chief executive Chandra Shekhar Ghosh told ET. The index was trading 1.43 per cent up at 26139.65. The housing finance book is targeted to grow five times to Rs 1 lakh crore in the next five years from the present level of nearly Rs 20,000 crore, its chief executive and managing director Chandra Shekhar Ghosh told . Shares of Bandhan Bank fell for the second straight trading session on Friday after the lender reported about 14 per cent decline in net profit for the third quarter. The shares of Bandhan Bank touched an intra-day high of Rs 409.45 on the BSE on the back of the news development. It’s the opposition Congress which first promised waiver of loans taken from these institutions if the party is voted to power, with the incumbent Bharatiya Janata Party matching it. PTI. Bandhan Bank Q3 profit down 13.5% on Covid provisioning Private sector banks report healthy deposit accretions, sluggish advances growth in Q3 Bandhan Bank … The Nomination and Remuneration Committee of the Board of the Bank on January 11, 2021, has approved the allotment of 87,060 Equity Shares of face value of Rs. Check out why Bandhan Bank share price is falling today. Good evening :) Bandhan Bank Ltd. News. We cover the latest Bandhan Bank headlines and breaking news impacting Bandhan Bank stock performance. For Bandhan Bank, 2021 is likely to be a turbulent year especially after the deterioration its loan book in the December quarter, said analysts. Bandhan Bank on Thursday reported 13.5 per cent decline in net profit at Rs 632.6 crore for the third quarter ended December 31, 2020. Article; Bandhan Bank Q3 profit falls 14 pc at Rs 633 cr PTI | New Delhi | Updated: 21-01-2021 15:47 IST | Created: 21-01-2021 15:46 IST. BFSI News; Latest BFSI News; Bandhan bank; Bandhan Bank. Planning a trip? The contents of this section do not constitute investment advice. In addition to global sized banks, the chief economic adviser said India needs more banks. TNN. Bloomberg | Quint is a multiplatform, Indian business and financial news company. 10/- each fully paid-up to eligible employees of the Bank upon exercise of the Options vested with them under the ESOP Series 1. Total income grew 22 per cent to Rs 2,304.90 crore in July-September 2020-21 as against Rs 1,889.30 crore in the year-ago period, Bandhan Bank said in a regulatory filing. Get detailed Bandhan Bank stock price news and analysis, Dividend, Bonus Issue, Quarterly results information, and more. It operates through the following segments: Treasury, Retail Banking, Corporate and Wholesale Banking, and Other Banking Business. 8.48 am | 7 Jan 2021 | Business Standard. Bandhan Bank share; Redirecting to the full story in: 00:10 seconds. Markets Insider. 3.93 in December 2020 from Rs. Breaking News. Photo: Mint Bandhan Bank Q3 result: Profit falls 14% at ₹ 633 crore 1 min read. Bandhan Bank said its loans and advances grew by 23 per cent YoY to Rs 80,255 crore during the third quarter of the current fiscal. By NDTV on 01 Oct 2018 | 01:55 AM. Click on the attachment to read the full report: This report is authored by an external party. The bank … The movement of bad loans in Bandhan Bank’s book during the third quarter has come as a surprise. Connection to application lost. At 9:35, the shares of Bandhan Bank were … Logged Out. Accordingly, application will be made to RBI seeking prior-approval for the re-appointment of Mr. Ghosh as the MD & CEO of the Bank within the timeline stipulated by RBI. ET Bureau. Bandhan Bank's News and Announcements. Bandhan Bank has registered a 13 per cent decline in net profit at Rs 633 crore for the quarter ended December 31, 2020, as against Rs 731 crore for … Private sector lender Bandhan Bank on Thursday reported a net profit of Rs 1,111 crore for fiscal 2017 and announced that the small business segment will be its area of focus in the coming times. If one reads between the lines, there is stress developing due to COVID and local factors. Investment Checklist. MOTN poll: 20% say Modi govt's handling of economy during pandemic was outstanding. The upcoming elections in Assam and West Bengal have further clouded the outlook given concerns over likely loan waivers, which will dent the asset quality of its microfinance loan book further. Breaking News. Shares of Bandhan Bank gained as much as 4.1% on Friday to Rs 422 apiece. Image Credit: Wikipedia. #Bandhan Bank #Gruh Finance #DURecorder This is my video recorded with DU Recorder. Join our. The bank aims to reach 8,000 branches in five years. Never miss a great news story!Get instant notifications from Economic TimesAllowNot now. Place Order. Economy & Business. Photo: Mint Bandhan Bank Q3 result: Profit falls 14% at ₹ … … Here's a word of advice for investors, Inside the world's biggest vaccine factory, India's Serum Institute, Overcharged despite GST cut? News. Bandhan Bank Ltd. engages in the provision of banking and financial services. More banks will enhance competition in banking and bring down … Photo: Mint Bandhan Bank shows resilience but risks to growth remain 1 min read. This is the second time that the RBI is acting against Bandhan for violation of shareholding norms. The bank had posted a net profit of Rs 731 crore for the same … By Nachiket Kelkar January 21, 2021 20:58 IST. As on March 31, Bandhan Bank's total loan book stoodat Rs 71,825 crore, reflecting a 60 per cent year-on-yeargrowth. The Nifty Bank index was trading 0.69 per cent down at 28408.8. The index was trading 2.75 per cent up at 25577.45. All; News; Photos; Videos; India Needs More Global Sized Banks to Help Country Achieve $5 Trillion Economy: CEA. Bandhan Bank Ltd. (BANDHANBNK) - Latest News & Headlines. patna News. A year ago, the RBI barred Bandhan from opening new branches, and also ordered freezing of its CEO’s salary over failure to stick to shareholding rules . DOW 30 +0.25% +78.44. Nifty bank rallies 1.95%; Bandhan bank leads rise. small and medium enterprise segment has declined from 94% in end of December to 92% by Mid-January, however the management has indicated that it would improve by March 2021. S&P 500 +0.03% +1.13. HDFC Securities' top 10 stock picks for 2021 are: Bandhan Bank, Birla Corporation, GAIL, HPCL, HUL, Infosys, Nippon AMC, ONGC, SBI and Sun Pharma. Economy & Business. The sale took place at a 9.3% discount to the previous closing price, according to deal terms seen by Bloomberg News. Analysts said the ongoing momentum in second-rung stocks is likely to continue in 2021. Also, find top stories and latest updates on Bandhan Bank . (Source: BloombergQuint), ICICI Direct Bandhan Bank Q3FY21 Result Update.pdf, Missing BloombergQuint's WhatsApp service? Bandhan Bank Ltd. has posted decent results on the operating front however asset quality performance and outlook has raised some concerns that calls for cautious approach. The current tenure of Mr. Ghosh as the MD & CEO of the Bank would be expiring on July 09, 2021 and in terms of the RBI Circular dated March 31, 2020, application for re-appointment of MD & CEO shall be submitted atleast six months before the expiry of the term of office of the MD & CEO. For that you must always consult an expert based on your individual needs. DOW 30 +0.25% +78.44. Subscribe. Bihar: Dacoits loot Rs 17 lakh from Bandhan bank in Muzaffarpur, vendor shot at while fleeing ; Bihar: Dacoits loot Rs 17 lakh from Bandhan bank in … Liquidity coverage ratio was at comfortable 157% as against the current regulatory stipulation of 90%, the bank said. For instance, he said, the US which is one third of India in terms of population has 20 times more banks. Close. More Top News . Stocks in news: Bandhan Bank, Lupin, TCS, SBI, Wipro, Maruti US Capitol violence: Biden calls for restoring decency after 'assault' on … Nifty bank sees a rally after bearing a heavy crash as opened at 22,195.05 on July 30 as compared to July 27, when it closed at 21848.75. Allotment of Equity Shares of the Bandhan Bank Limited pursuant to Exercise of Options under Bandhan Bank Employee Stock Option Plan Series 1. MOTN poll: 54% respondents say 'love jihad' is a conspiracy to convert Hindu women to … Photo: Mint Bandhan Bank's collection efficiency hit in Assam as state passes micro-finance bill 2 min read. It's easy to record your screen and livestream. IIFL View. We combine Bloomberg’s global leadership in business and financial news and data, with Quintillion Media’s deep expertise in the Indian market and digital news delivery, to provide high quality business news, insights and trends for India’s sophisticated audiences. On Friday, shares of Bandhan Bank closed 7.5% down at Rs 314.95, falling 13% in the past two trading days, after the lender reported a weak set of numbers for the December-ended quarter. The index was trading 3.23 per cent up at 24673.75. Markets Stocks Indices Commodities Cryptocurrencies Currencies ETFs News Economic; Earnings; U.S. markets open. Bandhan Bank Ltd. engages in the provision of banking and financial services. Business Insider. Get Bandhan Bank Ltd news and stories on Tickertape. Watch videos, top stories and articles on Bandhan Bank at moneycontrol.com. Markets Insider. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint. Please try after some time. We are always looking to hire self-motivated individuals who are passionate about their careers. Forex reserves down by $1.839 billion to $584.242 billion, Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. Please try after some time. Account. 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