BANDHANBNK

** Shares of Bandhan Bank BANH.NS surge 7.3%, Ujjivan Small Finance Bank UJJI.NS up 5%, AU Small Finance Bank AUFI.NS and IndusInd Bank INBK.NS rise 4% and 1.4%, respectively

** Reserve Bank of India (RBI) on Tuesday partially reversed tighter rules for bank loans to small borrowers and non-bank lenders

** BANH sees best intra-day percentage gain since January 14, 2025

** RBI's move should provide relief to banks with higher exposure to microfinance sector, Nomura said

** Shares of AU Small Finance Bank lost 28%, Bandhan Bank fell 37% and IndusInd Bank was down 31% as of last close, since RBI's risk weight hike in November 2023

** Financial stocks .NIFTYFIN gain 0.8%

** Cholamandalam Investment CHLA.NS and Shriram Finance SHMF.NS lead gains in financial stocks, rising 4.4% and 3.6%, respectively; Bajaj Finance BJFN.NS shares rise 2.5%

(Reporting by Sethuraman NR in Bengaluru)

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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:

• APPOINTS PARTHA PRATIM SENGUPTA AS MD&CEO

Source text for Eikon: ID:nBSE8Bqp4T

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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

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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)

(([email protected]; +91 22 6921 7848; Twitter: https://twitter.com/siddhiVnayak))

** 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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Adds details and background from paragraph 2 onwards

BENGALURU, April 5 (Reuters) - India's Bandhan Bank BANH.NS said on Friday its Managing Director and Chief Executive Chandra Shekhar Ghosh would retire on July 9, after spending nearly a decade at the lender.

According to protocol, the bank is required to submit nominations for a potential replacement to the Reserve Bank of India, which will give a final approval for a new CEO of the bank.

Ghosh had set up Bandhan in 2001 as an NGO. In 2006, it acquired a non-banking finance company and named it as Bandhan Financial Services (BFSL), which initially focused on microfinance activities, according to an exchange filing, which enclosed his letter to the bank's board.

Subsequently, BFSL and Ghosh applied for a banking license in July 2013. He served as the MD and CEO of the bank since July 2015.

(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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Recasts first paragraph, adds details throughout

BENGALURU, Feb 6 (Reuters) - India's biggest private lender by market capitalisation, HDFC Bank HDBK.NS, said on Tuesday it has received approval from the Reserve Bank of India (RBI) to acquire up to a 9.5% stake each in six private lenders.

The approval lets HDFC Bank buy stakes in ICICI Bank ICBK.NS, IndusInd Bank INBK.NS, Yes Bank YESB.NS, Axis Bank AXBK.NS, Bandhan Bank BANH.NS and Suryoday Small Finance Bank SURO.BO.

The approval is on behalf of the HDFC Bank group, including its asset management company, life insurance company and others, the company said.

The RBI has also mandated that the group acquire major shareholding within one year in all the banks from the date of the approval, without which it would stand cancelled.

As of Dec. 31, HDFC Asset Management Company held stakes between 2.34%-4.3% in ICICI Bank, IndusInd Bank, Yes Bank, Axis Bank and Bandhan Bank. The group has no stake in Suryoday Small Finance.

IndusInd, HDFC Bank and ICICI Bank, all of which reported quarterly results in January, beat profit expectations on the back of strong loan growth.

Axis Bank reported a 3.7% rise in third-quarter profit whereas Yes Bank's net profit more than quadrupled in the October-December period but missed estimates.

Suryoday Small Finance Bank and Bandhan Bank are yet to report results.

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Janane Venkatraman)

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Jan 16 (Reuters) - HDFC Bank Ltd HDBK.NS:

• HDFC BANK EXEC: EXPECT SHARE OF RETAIL LOANS TO RISE IN LOAN BOOK MIX GOING FORWARD

• HDFC BANK EXEC: BANK HAS SOLD STAKE IN BANDHAN BANK OVER A PERIOD OF TIME

• HDFC BANK EXEC: COMPETITIVE PRICING IN WHOLESALE LOANS CONTINUING

• HDFC BANK EXEC: YET TO SEE A HIGH ORDER ON PRIVATE CAPEX; SEE OPPORTUNITIES COMING UP IN NEXT 2-3 QTRS

• HDFC BANK EXEC: EXPECT TO COMMENCE ACTIVITY ON LISTING HDB FINANCIAL IN NEXT FEW MONTHS

Source text for Eikon: [ID:]

Further company coverage: HDBK.NS

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MUMBAI, Jan 9 (Reuters) - India's Bandhan Bank BANH.NS said on Tuesday that the National Credit Guarantee Trustee Company (NCGTC) has decided to undertake an audit of loan claims filed by the lender under a guarantee scheme.

The bank clarified in an exchange filing that the regulator has not initiated a broader audit.

After receiving the first tranche of recovery from the Credit Guarantee Fund of Micro Units (CGFMU), Bandhan Bank had applied for a second tranche of about 12.90 billion rupees ($155.3 million), the lender said in an exchange filing.

CGFMU is a government-established trust fund to ensure payment against default for micro loans extended to eligible small borrowers.

NCGTC, also set up by the government, oversees these guarantee schemes.

The NCGTC has further intimated its decision to conduct a detailed audit of the CGFMU portfolio for the fiscal year 2020-21, the filing showed.

The lender is confident of recovering the claim amount, it said.

Earlier this month, Bandhan Bank reported an 18.6% year-on-year increase in loans for the October-December period, with deposits rising 14.8%.

Bandhan Bank's stock rose as much as 3.17% on Tuesday following the clarification, before paring some of those gains. It had fallen 7.39% on Monday on media reports of the audit.

($1 = 83.0860 Indian rupees)

(Reporting by Siddhi Nayak; Editing by Dhanya Ann Thoppil)

(([email protected]; +91 22 6921 7848; Twitter: https://twitter.com/siddhiVnayak))

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

• TOTAL DEPOSITS FOR QUARTER ENDED DEC UP 14.8% Y/Y

• LOANS & ADVANCES FOR QUARTER ENDED DEC UP 18.6% Y/Y

Source text for Eikon: ID:nBSE6ShkKG

Further company coverage: BANH.NS

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MUMBAI, Dec 21 (Reuters) - India's Bandhan Bank BANH.NS on Thursday said that it will sell its stressed home loan portfolio to an asset reconstruction company.

The bank has approved the transfer of 7.76 billion rupees ($93.23 million) in home loans, which were overdue by more than 180 days to an asset reconstruction company (ARCs), it said in a release to exchanges.

The bank will recover 36% of this amount or 2.8 billion rupees upfront in cash as part of the sale, it said.

Banks sell assets to ARCs to help reduce the level of bad loans on their books and release the capital they need to set aside against such loans.

Bandhan Bank had a gross non-performing assets ratio of 7.32% at the end of the September 2023 quarter.

($1 = 83.2387 Indian rupees)

(Reporting by Ira Dugal; Editing by Eileen Soreng)

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** Shares of fintech co Infibeam Avenues Ltd IFIB.NS rise 7.8% to 23.4 rupees, hits highest since Jan 31, 2022

** Bandhan Bank's BANH.NS EMI facilities to be introduced to over 10 mln merchants via Infibeam's payment gateway brand CCAvenue

** IFIB has been trading above its 100-day simple moving avg since Sept 6

** Stock on track to gain this year, after two consecutive years of losses

** More than 6 bln shares traded this year, most active year yet since 2019 - LSEG data

** IFIB last up 7.3%, bringing YTD gains to 40.4%; BANH last up 0.5%

(Reporting by Meenakshi Maidas in Bengaluru)

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Nov 24 (Reuters) - Bandhan Bank Ltd BANH.NS:

• APPROVED RE-APPOINTMENT OF CHANDRA SHEKHAR GHOSH AS MD, CEO

Source text for Eikon: ID:nBSEbcYjWV

Further company coverage: BANH.NS

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** Shares of Bandhan Bank BANH.NS drops 4.2% to 228 rupees, top loser on Nifty private bank index .NIFPVTBNK which is down 0.15%

** If losses hold, BANH on track to decline for third straight session

** Co's asset quality in Q2 deteriorated, as gross non-performing assets (GNPA) ratio climbs to 7.32% from 6.76% QoQ on higher microfinance institutions (MFI) slippages

** Net interest margin (NIM), an indicator of a bank's profitability, was slightly up at 7.2% from 7% last year

** Macquarie downgrades BANH to neutral, says believe incremental forward flows into MFI stress pool predominantly from the current account book

** Macquarie cuts EPS estimates by 10-11% over FY24E-26E, factoring in higher credit costs, lower loan growth

** Also cuts PT to 230 rupees from 280 rupees; new PT a 3.4% implied downside to last close

** As of last close, BANH up 1.7% YTD vs 4.5% gain in Nifty private bank index

(Reporting by Rama Venkat in Bengaluru)

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Oct 18 (Reuters) - Bandhan Bank Ltd BANH.NS:

• INDIA'S BANDHAN BANK Q2 NET PROFIT 7.21 BILLION RUPEES

• BANDHAN BANK Q2 GROSS NPA 7.32%

• BANDHAN BANK Q2 INTEREST EARNED 44.92 BILLION RUPEES

• BANDHAN BANK Q2 NET NPA 2.32%

• BANDHAN BANK Q2 PROVISIONS AND CONTINGENCIES 6.36 BILLION RUPEES

• BANDHAN BANK YEAR AGO Q2 NET PROFIT 2.09 BILLION RUPEES, INTEREST EARNED 37.73 BILLION RUPEES

• BANDHAN BANK LTD - APPOINTS ABHIJIT GHOSH, HEAD - FINANCE & ACCOUNTS OF BANK, AS INTERIM CFO

Source text for Eikon: ID:nBSE2J54cy

Further company coverage: BANH.NS

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

• LOANS & ADVANCES FOR SEPT UP 12.3% Y/Y

• TOTAL DEPOSITS FOR SEPT UP 12.8% Y/Y

Source text for Eikon: ID:nNSE897ynz

Further company coverage: BANH.NS

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