Bandhan Bank share up 10.3% on P.P. Sengupta's appointment as MD & CEO
Sengupta has four decades of experience in banking. He previously worked as deputy MD and chief credit officer at SBI and MD & CEO of Indian Overseas Bank
Sengupta has four decades of experience in banking. He previously worked as deputy MD and chief credit officer at SBI and MD & CEO of Indian Overseas Bank
Private lender's profit for the quarter ended June 30, 2024, stood at ₹1,063 crore compared to ₹721 crore, a growth of 47% YoY
Singh has served as an RBI nominee director on boards of 5 banking and non-banking entities and spent 3 years as the regional director for Rajasthan
Ghosh to retire from Bandhan Bank at the end of his current tenure as MD & CEO on July 09, 2024; to assume a larger strategic role
Private bank to acquire 9.50% stake in Axis Bank, Suryoday Small Finance Bank, ICICI Bank, Bandhan Bank, Yes Bank, and IndusInd Bank
The bank's net interest income fell 2.7% YoY to ₹2,471.8 crore in Q4FY23; the non-interest income declined 35.3% YoY to ₹629 crore.
Bandhan Bank made ₹1,280 crore provisions in the September quarter, which was nearly double of the previous quarter but down 77.2% YoY.
The bank owes its cost efficiency to its past as a microfinance institution. It is looking to build on its strength.
The Sensex and Nifty are set to open lower on Monday, following weak cues from Asian peers and negative trading on the SGX Nifty futures.
Shares of Bandhan Bank rallied amid a surge in volume trade as more than 5 crore equity shares of the private sector lender changed hands via block deals.