Bandhan Bank reported 4QFY26 PAT of INR5.3b (up 68% YoY, 32% beat). NII grew 4% QoQ to INR27.9b (in line). Margin improved by 30bp QoQ to 6.2%, aided by a reduction in CoF (down 20bp QoQ) and improvement in yields (up 10bp QoQ).