BANDHANBNK

Adds detail all through

Aug 7 (Reuters) - India's AU Small Finance Bank AUFI.NS, on Thursday, got the banking regulator's 'in-principle' approval to transition into a universal bank, making it the first full-fledged banking licence issued in nearly a decade.

AU Small Finance Bank applied for the licence in September 2024, which would allow it to expand its operations, in terms of issuing bigger loans, taking on more customers and making subsidiaries, all of which are limited for small finance banks.

The Reserve Bank of India, also the country's banking regulator, first issued guidelines for small finance banks to transition into full-fledged banks in 2014 and then updated those guidelines with more detailed criteria in April last year.

These included a five-year track record of satisfactory performance, a net worth of 10 billion rupees ($114 million), meeting capital requirements, recent profitability and limited non-performing assets.

The last such license issued by the RBI was in 2015 to Kolkata-based Bandhan Bank, which was a microfinance firm then.

For the quarter ended June 30, AU Small Finance Bank reported a 16% year-on-year jump in net profit to 5.81 billion rupees, while its gross bad loans as a percentage of total loans stood at 2.47% compared to 1.78% a year earlier.

(Reporting by Ashwin Manikandan and Nishit Navin; Editing by Shailesh Kuber and Savio D'Souza)

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** India's private banks' index .NIFPVTBNK down 3.5% in July, set for worst monthly decline since Oct 2024

** Sub-index also set for first monthly decline in five

** Drop intensified after subdued results from Axis Bank AXBK.NS, Kotak Mahindra Bank KTKM.NS, Bandhan Bank BANH.NS and IndusInd Bank INBK.NS, sparking asset quality concerns

** BANH and AXBK top monthly decliners on sub-index

** Seven of 10 stocks on sub-index log monthly losses

** Heaviest-weighted HDFC Bank HDBK.NS and ICICI Bank ICBK.NS up nearly 2% and 3% this month, respectively, on upbeat results

** Benchmark Nifty 50 .NSEI down 2.3% in July, set to snap four-month winning streak

** YTD, private banks index up 10% vs Nifty 50's 5.4% climb

(Reporting by Kashish Tandon in Bengaluru)

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** Bandhan Bank BANH.NS falls 3.7% to 180.12 rupees; set for worst day in more-than five weeks

** Stock among top two pct losers on mid-cap index .NIFMDCP100, which is up 0.4%

** Private lender reports bigger-than-expected decline in Q1 profit on Friday, hit by spike in bad loan provisions as asset quality worsened

** At least five brokerages cut ratings post results, five hike ratings, per data compiled by LSEG

** Stock rated "buy" on avg; median PT is 200 rupees

** Jefferies cuts FY26 earnings estimates by 6%; Elara Capital says volatile financial performance, uncertainty around co's operating environment dampened investor confidence

** YTD, BANH gains ~13%

(Reporting by Manvi Pant in Bengaluru)

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July 18 (Reuters) - Indian private lender Bandhan Bank BANH.NS reported a steeper-than-expected 65% drop in first-quarter profit on Friday, hit by a spike in bad loan provisions as its asset quality worsened.

Profit for the quarter ended June fell to 3.72 billion rupees ($43.2 million), from 10.63 billion rupees a year ago. Analysts had expected it to log a profit of 3.83 billion rupees, according to data compiled by LSEG.

Bandhan Bank, which transitioned from a microfinance lender to a universal bank in 2015, has grappled with higher bad loans in its micro-loan book over the last few quarters, forcing it to set aside more funds for potential bad loans.

Provisions and contingencies in the quarter jumped to 11.47 billion rupees from 5.23 billion rupees in the same quarter a year ago. They were, however, lower than the 12.6 billion rupees in the prior quarter.

Gross bad loans as a percentage of total loans, a measure of asset quality, rose to 4.96% in the quarter from 4.71% in the prior quarter. Fresh slippages, or bad loan additions, were at 15.5 billion rupees, sharply higher than 8.9 billion rupees in the year ago quarter.

The lender's net interest income dropped 8%, while the net interest margin contracted 117 basis points year-on-year to 6.4%.

($1 = 86.1250 Indian rupees)

(Reporting by Chandini Monnappa and Ananta Agarwal in Bengaluru; Editing by Mrigank Dhaniwala)

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** Shares of Bandhan Bank BANH.NS rise 2% to 190.9 rupees apiece

** UBS raises price target to 210 rupees from 165 rupees, reiterates "neutral" on the microfinance lender's stock

** UBS' new price target implies an upside of 12.2% over the last close

** UBS says industry trends are stabilising and sees gains from a gradual drop in credit costs

** The average rating of 25 analysts tracking BANH is "buy"; the median price target is 185 rupees, according to data compiled by LSEG

** BANH shares are up 17.7% in 2025 so far, outpacing the 13.8% rise in Nifty private bank index .NIFPVTBNK, exchange data shows

(Reporting by Bharath Rajeswaran in Bengaluru)

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June 20 (Reuters) - Bandhan Bank Ltd BANH.NS:

• RBI EXTENDS TERM OF ARUN KUMAR SINGH AS ADDITIONAL DIRECTOR

Source text: ID:nBSEh2Bkc

Further company coverage: BANH.NS

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** Shares of India's Bandhan Bank BANH.NS rise 3.1% to 180.3 rupees apiece

** CLSA says among microfinance lenders, BANH has outperformed larger rival IndusInd Bank INBK.NS as well as smaller peers on asset quality in the March quarter

** Brokerage reiterates high-conviction "outperform" rating on BANH

** Says BANH's annualised gross slippage ratio of 10% was significantly below Creditaccess Grameen CRDE.NS, Fusion Finance FUSN.NS and INBK

** Sees only marginal pain for BANH in terms of asset quality going forward, compared with peers

** CLSA reiterates "underperform" on CRDE and FUSN; CRDE shares down 0.8%, FUSN shares up 0.5%

** BANH shares up 10% in 2025 so far, mirroring the 12% rise in private bank index .NIFPVTBNK

(Reporting by Bharath Rajeswaran in Bengaluru)

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** Yes Bank YESB.NS rises 2.1%; State Bank of India SBI.NS gains 1.9%

** Japan's Sumitomo Mitsui Banking Corp (SMBC), a unit of Sumitomo Mitsui Financial Group 8316.T, said on Friday it will buy 20% stake in Yes Bank from SBI, other lenders

** YESB closed nearly 10% higher on Friday before deal was announced

** SMBC to acquire 13.19% stake from SBI and an aggregate of 6.81% from Axis Bank AXBK.NS, Bandhan Bank BANH.NS, Federal Bank FED.NS, HDFC Bank HDBK.NS, ICICI Bank ICBK.NS, IDFC First Bank IDFB.NS and Kotak Mahindra Bank KTKM.NS

** On Monday, around 318 mln YESB shares traded vs 30-day avg of ~129 mln

** YTD, YESB up 4%

(Reporting by Vijay Malkar and Hritam Mukherjee in Bengaluru)

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** Shares of Bandhan Bank BANH.NS fall as much as 3.3% to 151.51 rupees

** Private lender on Thursday said its Q4 loans and advances grew 10.6% Y/Y

** Collection efficiency for emerging entrepreneur business (EEB) loans stood at 97.7%, co said

** Brokerage Jefferies says BANH Q4 loan growth tad slower vs 15% in Q3

** EEB collection stable but below normalised levels of 98-99% reflecting stress in sector - Jefferies

** Share price below 100-day and 200-day exponential moving averages

** Avg rating of 26 analysts equivalent of "buy", median PT is 170 rupees - data compiled by LSEG

** Stock down 3.8% YTD

(Reporting by Ashish Chandra in Bengaluru)

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March 26 (Reuters) - Bandhan Bank Ltd BANH.NS:

• BANDHAN BANK - GETS TAX DEMAND OF 1.19 BILLION RUPEES

Source text: ID:nNSE3RKzzM

Further company coverage: BANH.NS

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Corrects to Thursday from Wednesday in first paragraph

Feb 27 (Reuters) - Shares of most Indian financial companies, especially those of non-bank and microfinance-focussed lenders, jumped on Thursday after the central bank further eased its capital requirements for micro loans and bank credit.

Financial stocks .NIFTYFIN, which include non-bank finance companies (NBFCs), jumped about 1%, outpacing the 0.7% increase in banking stocks .NSEBANK. The benchmark Nifty 50 .NSEI, in comparison, was flat.

The Reserve Bank of India, on Tuesday, trimmed the higher capital requirements introduced in November, the latest in a series of growth-supportive measures since Sanjay Malhotra took over as governor in December.

Under his watch, the RBI has eased liquidity, delayed some regulations and loosened restrictions placed on some lenders.

"We think this bodes well for the financial sector and lays more emphasis on consumption and growth ... and (we) reiterate our bullish view," Macquarie analyst Suresh Ganapathy said in a note.

On the day, Bandhan Bank BANH.NS gained 6%, while Shriram Finance SHMF.NS, AU Small Finance Bank AUFI.NS and Ujjivan Small Finance Bank UJJI.NS rose about 5% each.

Cholamandalam Investment and Finance CHLA.NS and Aditya Birla Capital ADTB.NS advanced 4.5% each. Bajaj Finance BJFN.NS rose 2.7% and IndusInd Bank INBK.NS gained 2%.

In comparison, top private lenders such as ICICI Bank ICBK.NS and HDFC Bank HDBK.NS were up under 1%.

The RBI's move should help most NBFCs' earnings, Morgan Stanley analysts said, picking Aditya Birla Capital, PNB Housing, Shriram Finance and Bajaj Finance as top beneficiaries.

Nomura analysts said banks with higher microfinance loan exposure, such as Bandhan Bank, IndusInd and AU Small Finance Bank, would also get much needed relief.

Since the rules were implemented in November, Aditya Birla Capital's shares had slid 16%, while AU Small Finance Bank and IndusInd Bank sank 28% and 31%, respectively. The worst hit, with a 38% tumble, was Bandhan Bank -- the day's top gainer.

However, Axis Bank Chief Economist Neelkanth Mishra cautioned that a reversal in the broad-based slide in loan growth -- caused by high liquidity costs and the RBI's discomfort with high loan-to-deposit ratios -- could take time.

"While these (RBI) signals should help revive lending, we believe the binding constraint remains durable liquidity."

(Reporting by Sethuraman NR; Editing by Savio D'Souza)

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Dec 31 (Reuters) - Bandhan Bank Ltd BANH.NS:

• BANDHAN BANK LTD - RBI APPROVES RE-APPOINTMENT OF ANUP KUMAR SINHA AS NON-EXECUTIVE CHAIRMAN

Source text: ID:nBSEQ9JxK

Further company coverage: BANH.NS

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By Siddhi Nayak

MUMBAI, Nov 8 (Reuters) - Indian lenders are bracing for another wave of defaults in their microfinance portfolios in the second half of the fiscal year after the banking regulator recently further tightened rules for such loans, four bankers said.

The default rates in microfinance loans -- collateral-free loans to those with annual income of up to 300,000 rupees ($3,556) -- had already jumped, as evidenced in the July-September results of IndusInd Bank INBK.NS, Kotak Mahindra Bank KTKM.NS, RBL Bank RATB.NS and Bandhan Bank BANH.NS.

The Reserve Bank of India (RBI), both the central bank and banking regulator, has previously publicly flagged unfair practices in the sector, including "usurious" interest rates and "unreasonably high" processing fees.

Last month, in its latest move, the RBI asked lenders to stop issuing new microfinance loans to borrowers unless they have cleared previous loans, three of the bankers said.

This, however, was conveyed informally, the bankers said, and could lead to cascading defaults as some borrowers will fail to repay dues without fresh credit. Banks offered such "netting off" of loans since many borrowers don't have a steady source of income, one banker said.

The RBI did not respond to an email from Reuters. Three bankers declined to be identified as they are not authorised to speak to the media.

Now, as the cessation of the netting-off impact starts playing out, loan installments will start spiraling and the stress in the sector should continue this quarter, said Venkatesh M, managing director of IIFL Samasta Finance.

"We are still not out of it."

The impact could last even longer, according to Gaurav Dua, senior vice-president and head of capital market strategy at Sharekhan by BNP Paribas.

"As regulations become stricter, stress will creep up and be prolonged. We think that this could play out for the next 4-6 months," Dua said.

Banks and non-bank lenders compete in the microfinance market, which has led to rapid growth in the availability of such credit. The total outstanding of such loans jumped by 18.3% on-year as of June-end, per latest data from industry body MFIN.

The RBI's instruction to stop netting off, one banker said, was to prevent evergreening loans -- in which banks extend new credit to borrowers unable to repay an existing loan, thereby concealing the true status of non-performing assets (NPAs) or bad loans.

($1 = 84.3680 Indian rupees)

(Reporting by Siddhi Nayak; Editing by Savio D'Souza)

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** Shares of Bandhan Bank Ltd BANH.NS rise as much as 9.7% to 184.48 rupees

** Private lender reported a 30% y/y rise in Q2 net profit to 9.37 bln rupees; Q2 interest earned rose 22.4%

** Jefferies says BANH beat est., quality of MFI (microfinance) loans has held-up well; confirming assessment bank can outperform peers in this MFI-cycle; maintains "buy"

** Adds, cut earnings estimates by 1-4% to factor tad lower NIMs, higher credit costs for FY25-27; Partha Sengupta's appointment as CEO should bode well for performance and investor comfort

** BANH profit growth mainly led by higher other income and lower than expected provisions – better than some peers that posted sharp earning downgrades; retains "reduce" - Emkay

** Mean rating of 27 brokerages rating the stock is "buy"; their median PT is 218.50 rupees - LSEG data

** BANH last up 8%; down 24.7% YTD so far

(Reporting by Meenakshi Maidas in Bengaluru)

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Oct 25 (Reuters) - Bandhan Bank Ltd BANH.NS:

• Q2 NIM AT 7.4%

Source text for Eikon: ID:nBSE2X7PMB

Further company coverage: BANH.NS

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** Shares of Bandhan Bank BANH.NS rise 7.6% to 202 rupees in pre-open trade

** India's central bank approves appointment of veteran banker Partha Sengupta as CEO and MD

** Co says National Credit Guarantee Trustee Company (NCGTC) completed audit of loan claims filed by lender under guarantee scheme

** Adds remaining claims payout to co at 3.15 bln rupees ($37.5 mln)

** Appointment of PSU banker to provide stability to BANH while NCGTC claims imply 15% rise to profit estimate for FY25 - Macquarie

** "Key overhangs gone" after audit ended with relatively clean chit for BANH topped off with CEO appointment - CLSA

** Avg analysts' rating on stock at "buy"; median PT is at 220 rupees - LSEG data

** Stock down 16.3% YTD vs ~7% rise in Nifty bank index .NSEBANK

($1 = 83.9510 Indian rupees)

(Reporting by Dimpal Gulwani in Bengaluru)

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Oct 10 (Reuters) - Bandhan Bank Ltd BANH.NS:

• BANDHAN BANK - UPDATE ON CGFMU AND ECLGS CLAIM FROM NCGTC

• BANDHAN BANK - NCGTC ASSESSED CLAIM PAYOUT TO BANK UNDER GOVERNMENT SCHEME AS 12.31 BILLION RUPEES AS ON MARCH 31,2024

• BANDHAN BANK - FINAL CLAIM PAYOUT AS ON MARCH 31, 2024 STANDS AT 3.15 BILLION RUPEES

Source text for Eikon: ID:nBSE3gChDC

Further company coverage: BANH.NS

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Oct 4 (Reuters) - Bandhan Bank Ltd BANH.NS:

• LOANS & ADVANCES AS OF SEPT 30 UP 21.4% Y/Y

• TOTAL DEPOSITS UP 27.2% Y/Y AS OF SEPT-END

Source text for Eikon: ID:nBSE5bksBj

Further company coverage: BANH.NS

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Sept 5 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• ASHOK LEYLAND PARTNERS WITH BANDHAN BANK FOR PROVIDING VEHICLE FINANCE FACILITIES - STATEMENT

Source text for Eikon: [ID:]

Further company coverage: ASOK.NS

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** Shares of Bandhan Bank BANH.NS rise as much as 10.5% to 212.8 rupees, its biggest intraday climb since June 20

** BANH on Friday reported 46.4% surge in profit at 10.63 billion rupees (~$127 million) in June quarter

** Lower provisions and controlled operating expenses drove earnings beat, Motilal Oswal analysts said

** Analysts at JM Financial note asset quality metrics remained steady with Gross Non-Performing Assets (GNPA) and Net Non-Performing Assets (NNPA) at 4.2% and 1.1% quarter-on-quarter, respectively

** 5 analysts raised price targets post Q1 results, with median PT at 210.50 rupees vs 202.5 rupees a month ago; mean rating of 25 analysts is "hold" - LSEG data

** Including session's move stock is down 12.4% YTD

($1 = 83.7125 Indian rupees)

(Reporting by Anisha Ajith in Bengaluru)

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July 26 (Reuters) - Bandhan Bank Ltd BANH.NS:

• Q1 NET PROFIT 10.63 BILLION RUPEES

• Q1 GROSS NPA 4.23%

• Q1 INTEREST EARNED 55.36 BILLION RUPEES

• Q1 NET NPA 1.15%

• Q1 PROVISIONS AND CONTINGENCIES 5.23 BILLION RUPEES

Source text for Eikon: ID:nBSEbfYpTj

Further company coverage: BANH.NS

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July 6 (Reuters) - India's Bandhan Bank BANH.NS said on Saturday it has appointed Ratan Kumar Kesh as its interim managing director and chief executive officer with effect from July 10.

The Kolkata-based private bank said the appointment is for a period of three months or until a new MD & CEO takes charge.

Bandhan Bank said in April that CEO Chandra Shekhar Ghosh would retire on July 9 after spending nearly a decade at the lender.

Kesh is currently executive director and chief operating officer at the bank.

(Reporting by Rishabh Jaiswal in Bengaluru; editing by Jason Neely)

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Updates with source input, analyst comment, share price

By Siddhi Nayak

MUMBAI, June 25 (Reuters) - India's central bank has appointed a director on the board of Bandhan Bank BANH.NS, the private lender said in a notification to exchanges late on Monday.

Arun Kumar Singh, a chief general manager at the Reserve Bank of India, will act as additional director of Bandhan Bank for one year from June 24, the lender said.

The central bank and the lender did not specify the reason for the decision.

India's central bank has the power to appoint directors on bank boards under the Banking Regulation Act and typically does so to increase oversight of a lender's operations.

"The main purpose to appoint an additional director was to ensure smooth management transition," a source familiar with the central bank's thinking said on Tuesday.

The RBI wanted to be a part of Bandhan Bank's board and decision-making process, especially "when things are not very rosy for the bank", the source said, without offering more details.

The source did not wish to be identified because he was not authorised to speak with the media.

The RBI did not immediately respond to a Reuters' email seeking comment.

Bandhan Bank is set to see a management transition as Managing Director and CEO Chandra Shekhar Ghosh retires on July 9 after spending nearly a decade at the helm.

The RBI has yet to approve a name for the CEO's post and the process is underway, the source said.

Shares of the Mumbai-listed Bandhan Bank fell 4.4% in early trade on Tuesday, but pared losses to trade down 1.4%.

Macquarie analyst Suresh Ganapathy said in a note that while he expects Bandhan's stock to fall in the near-term, the RBI's move "is more of a prudent measure".

Bandhan Bank reported a 93% drop in net profit in the three months to March 31, as it wrote-off bad loans and made provisions for potential non-performing loans.

The bank had in January disclosed that a set of loans it gave out during the COVID-19 pandemic under a government-backed scheme were being examined by the National Credit Guarantee Trustee Company, an agency set up by the government to cover defaults by small businesses.

(Reporting by Siddhi Nayak; Editing by Janane Venkatraman and Mrigank Dhaniwala )

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MUMBAI, May 17 (Reuters) - Indian private lender Bandhan Bank BANH.NS reported a 93% drop in fourth-quarter net profit on Friday as it increased provisions and wrote off bad loans.

The Kolkata-based bank's net profit stood at 546.3 million rupees ($6.56 million) in the three months ended March 31, down from 8.08 billion in the same quarter a year ago.

Bandhan Bank's provisions and contingencies jumped to 17.74 billion rupees from 7.35 billion rupees a year earlier.

The bank wrote off bad loans worth 38.5 billion rupees in the January-March period, compared with none in the past four quarters.

These were loans given to small borrowers during the pandemic and were covered by a government guarantee.

However, the loans were being examined by the National Credit Guarantee Trustee Company, an agency set up by the government, the bank said, which could delay a payout of the government guarantee.

The bank termed the write-offs as a "prudent measure".

Its gross non-performing asset ratio - a key gauge of asset quality - improved to 3.84% as of March-end from 7.02% at the end of the prior three months as a result of the write-offs.

Bandhan Bank is set to see a management transition after Managing Director and Chief Executive Chandra Shekhar Ghosh said he would retire on July 9, after spending nearly a decade at the helm.

The lender's net interest income rose 16% on-year to 28.66 billion rupees, while net interest margin stood at 7.6%.

Its loans grew 14.3%, while deposits rose 25%.

Shares of the bank ended 0.9% higher ahead of the results on Friday.

($1 = 83.3322 Indian rupees)

(Reporting by Siddhi Nayak; Editing by Sohini Goswami)

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** Shares of Bandhan Bank BANH.NS fall as much as 9.2% to 179.25 rupees in above-avg vol

** Lender's MD and CEO Chandra Shekhar Ghosh to retire on July 9 after nearly a decade at the bank

** BANH last down 4.8%, top loser on Nifty bank index .NSEBANK

** Jefferies says the news is a negative surprise given CEO's recent 3-year reappointment and could be a risk from strategy perspectives

** Cuts stock to 'underperform' and PT by 14% to 170 rupees

** About 50.5 mln shares traded, nearly 4x the 30-day avg and stock's busiest session since mid-Feb

** Avg rating of 25 analysts on BANH is "buy"; median PT is 255 rupees -LSEG data

** Stock down ~22% YTD

(Reporting by Dimpal Gulwani in Bengaluru)

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BENGALURU, April 5 (Reuters) - India's Bandhan Bank BANH.NS said on Friday Managing Director and Chief Executive Chandra Shekhar Ghosh would retire on July 9.

(Reporting by Navamya Ganesh Acharya in Bengaluru; Editing by Shilpi Majumdar)

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April 4 (Reuters) - Bandhan Bank Ltd BANH.NS:

• TOTAL DEPOSITS AS OF MARCH 31 UP 25.1% Y/Y

• LOANS & ADVANCES AS OF MARCH 31 UP 17.8% Y/Y

Further company coverage: BANH.NS

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Feb 22 (Reuters) - Bandhan Bank Ltd BANH.NS:

• BANDHAN BANK LTD - APPROVED APPOINTMENT OF RAJEEV MANTRI AS CFO

Source text for Eikon: [ID:]

Further company coverage: BANH.NS

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** Shares of Bandhan Bank BANH.NS fall as much as 6.5% to 202.10 rupees, they rose 3.4% earlier in the session, before paring gains

** Lender reported more than two-fold rise in its Q3 net profit; however analysts flag concerns over asset quality

** Brokerage HSIE says asset quality impact due to slippage in emerging entrepreneurs business portfolio

** Nuvama says 2.5% of loans disbursed in year-ago qtr fall under non-performing loans as of Q3, which is discomforting

** Slower improvement in asset quality; moderation in slippages and recovery of loan guarantees are catalysts - Jefferies

** Avg rating on BANH at "buy"; median PT is 270 rupees - LSEG data

** Stock extends YTD losses to ~16%; it rose 3% in 2022

(Reporting by Kashish Tandon in Bengaluru)

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Feb 9 (Reuters) - Bandhan Bank Ltd BANH.NS:

• INDIA'S BANDHAN BANK Q3 NET PROFIT 7.33 BILLION RUPEES

• BANDHAN BANK Q3 GROSS NPA 7.02%

• BANDHAN BANK Q3 INTEREST EARNED 46.65 BILLION RUPEES

• BANDHAN BANK Q3 PROVISIONS AND CONTINGENCIES 6.84 BILLION RUPEES

• BANDHAN BANK Q3 NET NPA 2.21%

Source text for Eikon: [ID:]

Further company coverage: BANH.NS

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