Bandhan Bank extend losses to 6th day in a row

Bandhan Bank shares gave up initial gains in volatile trade on Monday, falling for the sixth session in a row. The Bandhan Bank stock--traded with the symbol BANDHANBNK on BSE and NSE--ended weaker by Rs 2.6, or 1.4 per cent, at Rs 184.3 apiece on BSE.

On Friday, the Kolkata-headquartered lender reported a 21.4 per cent year-on-year increase in total loans and advances to Rs 1,30,652 crore while its total deposits increased 27.2 per cent to Rs 1,42,511 crore, as of September 30. 

The lender said its CASA deposits stood at Rs 47,284 crore, up 9.5 per cent over the year-ago period, while its retail deposits (including CASA) grew 16.4 per cent to Rs 96,603 crore. 

Bandhan Bank shares reversed course after rising to as high as Rs 192.3 apiece amid large volumes on BSE. As many as 11.9 lakh Bandhan Bank shares changed hands during the session as against a daily average of 5.9 lakh recorded in the past two weeks, according to provisional exchange data. 

Bandhan Bank has yet to announce the date it will release its financial results for the July-September quarter. 

Its business update comes at a time when investors await the onset of a new earnings season on Dalal Street. 

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For the quarter ended June 30, Bandhan Bank reported a net profit of Rs 1,063.5 crore as against a net profit of Rs 721.05 crore for the corresponding period a year ago.

Its net interest income, a key measure of income for financial institutions, grew 20.7 per cent to Rs 3,005 crore, according to a regulatory filing. 

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