Bandhan Bank jumps 13% post Q1 business update
Published On: Tuesday, July 7, 2020 | By: Team KnowMyStock
Shares of Bandhan Bank jumped as much as 13 %to Rs 402 on the BSE on Tuesday after the bank reported healthy loan and deposit growth in the April-June quarter on a yearly basis despite nationwide COVID-19-induced lockdown. Bank saw its deposits growing 35 per cent year-on-year (YoY) to Rs 60,602 crore at the end of Q1FY21, compared to Rs 44,796 crore in Q1FY20. Loans and advances grew 18 per cent YoY to Rs 74,325 crore in Q1FY21 as against Rs 63,164 crore in Q1FY20. The share of micro-banking deposits to total deposits stood at 5 per cent on June 30 against 5.7 per cent on March 31. The stock has surged over 118 per cent in the last 3 months.
“There has been a steady improvement in collection efficiency. It ended with 70 per cent as on July 3rd. Nearly 70 per cent of customers have started repaying their loans," the bank said in a statement.For non-micro banking advances, collection efficiency for June stands at 84 percent it added.
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