Bandhan Bank Ltd. share price target

Asset quality deteriorates; CE remains key monitorable Motilal Oswal values your support in the Asiamoney Brokers Poll 2021 for India Research, Sales, Corporate Access and Trading team. We request your ballot....

COVID 3.0 continues to pose risks in the normalization of Bandhan's business. We maintain a BUY rating on the stock with a target price of Rs 355/share, implying an upside of 11% from CMP.

*Picks: CreditAccess Grameen, Equitas SFB, Ujjivan SFB, Bandhan Bank

Bandhan Bank operates as a commercial bank which provides checking accounts, savings deposits and money market, mortgage and term loan services. It also offers card facilities and internet banking services. Bandhan...

HMCL: Near-term headwinds; REDUCE. BANDHAN: Aggressive write-offs prop up asset quality

We maintain a BUY on the stock with a revised target price of Rs. 355/share, implying an upside of 20% from CMP.

Bandhan Bank posted weak results on the operating front with elevated provisioning hurting profitability. Asset quality performance and developments in key states like Assam and West Bengal would call for a cautious approach in the near term. Asset quality on a reported basis saw a spike as GNPA ratio jumped from 1.18% to 6.81% QoQ due to removal of standstill norms. On a proforma basis, asset quality appears to have improved from GNPA proforma level of 7.12% in the previous quarter but this was led by accelerated write-off worth...

Bandhan Bank (BANDHAN) reported a weak quarter, with net earnings sharply trailing estimates, affected by higher interest reversals of ~INR5.4b. Thus, NIMs declined 150bp QoQ, while elevated provisions of INR15.9b further impacted earnings. Total COVID-led provisions for FY21...

Bandhan Bank (Bandhan) reported Q4FY21 PAT of Rs 1bn (80% YoY), much below our and consensus estimates owing to a spike in provisions.

We initiate coverage on Bandhan Bank (Bandhan) with ADD and a Mar'22 TP of Rs 375 based on 2.4x FY23E P/BV.