Net interest margin has started to come off from the 10 per cent plus mark as proportion of lower-yield mortgages rise
Bandhan Bank announced the opening of 106 additional home loan distribution points
In the past two weeks, Bandhan Bank has outperformed the market by surging 33 per cent on run-up to inclusion in the MSCI Standard Index, effective October 15, 2019.
The share swap ratio for the amalgamation was fixed at 568 shares of Bandhan Bank for every 1,000 shares of Gruh Finance.
One estimate shows the MSCI inclusion could lead to ETF buying of nearly Rs 1,280 crore in Bandhan Bank.
Last week, Kolkata and Ahmedabad benches of National Company Law Tribunal (NCLT) approved the merger of Gruh Finance and Bandhan Bank
The 200-day moving average (DMA) is one of the important indicators to ascertain buy or sell trends.
Currently the stock is trading 18 per cent lower than its average one-year forward valuation, while return ratios are likely to remain strong
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Bandhan Bank's board has approved opening 187 more branches and 340 doorstep service centres this year
Gross NPAs as on June 30, 2019 stood at 2.02 per cent against 2.04 per cent as on March 31, 2019 while Net NPAs stood at 0.56 per cent against 0.58 per cent in the previous quarter.
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At present, microfinance is 86% of Bandhan Bank's book
The gross NPAs of Bandhan Bank at the end of Q4FY19 for the bank stood at 2.04%, against 1.25% in the same quarter a year ago
The revised rate will be applicable to new disbursements from Tuesday, the bank said in a statement
Impressive net profit expansion helped by strong balance sheet growth is the key positive in Q4 results
Net interest income (NII) of the bank rose 45.6 percent to Rs 1,258 crore against Rs 864 crore in the same period last year
In January this year, Bandhan Bank announced its merger with Gruh Finance, which will reduce the promoters' stake to about 61 per cent from close to 82.3 per cent
Bandhan Bank's merger with Gruh Finance would reduce the non-operative promoter Bandhan Financial Holding to 61% from 80%
Gruh Finance, the affordable housing finance arm of HDFC Ltd, was taken over in January by Kolkata-based Bandhan Bank in a share-swap deal