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<ul><li>As per a tweet by Motilal Oswal, <keyword id="6808641" type="UNKNOWN" weightage="20" keywordseo="Bandhan-Bank-stock">Bandhan Bank stock</keyword> will be added to MSCI index effective from October 16.</li><li>Bandhan is a long -term compounder and will be able to consistently deliver over 30% growth, said a research report by Axis Capital.</li><li>The merger with Gruh Finance will also allow the rapidly expanding Bandhan Bank with an extended portfolio of loans.</li></ul> Kolkata-based lender Bandhan Bank which has been servicing rural women with small loans, is now expected to hit the big leagues soon. As per a tweet by Motilal Oswal, the bank’s stock will be added to the MSCI index effective from October 16. Investors celebrated the huge feat by a 5-year old bank and the shares jumped nearly 10%, hitting the upper circuit, after which the exchanges halted trading in the company’s shares. MSCI is Morgan Stanley Capital International index is headquartered in New York. It enters a league of top stocks which will also provide by access to global investors, institutions and funds. As per the brokerage firm, this is an effect of its merger with Ahmedabad-based Gruh Finance which recently received an approval from National Company Law Tribunal. Even before the MSCI entry, Bandhan has been one of the rare banking success stories in India. “It is well placed to deliver industry-leading return ratios with a high-yielding assetbook on one side and robust low-cost deposit franchise on the other. Bandhan is a long term compounder and will be able to consistently deliver over 30% growth,” said a research report by Axis Capital in early September. The merger with Gruh Finance will also allow the rapidly expanding Bandhan Bank with an extended portfolio of loans. Currently, around 90% of the bank’s portfolio consists of small loans only. Gruh Finance, as the name suggests, provides housing loans mostly to rural populace. This loan portfolio will provide diversity to the primarily entrepreneurship-based loans that Bandhan currently provides. The shares of Bandhan hit an upper circuit at ₹608 per share in today’s trade, increasing by over 9% in the morning trade. The stock of Gruh Finance also rose by around 7.9% as of 12 pm. <div type="image" title="Coffee Day Global Ltd. is incorporated, in order to start the cafe business (1) (2)" tempid="101146" msid="71541429" hostid="261"></div>

A five-year-old bank lending to poor women in rural India has made it to MSCI in New York

<keyword id="9693136" type="COMPANY" weightage="20" keywordseo="bandhan-financial-holdings-limited">Bandhan Financial Holdings Limited</keyword> has lowered its stake in <keyword id="2240511" type="COMPANY" weightage="20" keywordseo="Bandhan-Bank">Bandhan Bank</keyword> by 20.95 per cent through a block deal to meet the Reserve Bank of India's (RBI) <keyword id="1366225" type="PERSON" weightage="20" keywordseo="Licensing-norms">licensing norms</keyword> for new private sector banks. Post the deal, the holding company's stake in the bank is at 40 per cent, the bank said in a regulatory filing. As per <keyword id="9693135" type="COMPANY" weightage="20" keywordseo="the-licensing-guidelines">the licensing guidelines</keyword>, the non-operative financial holding company (NOFHC) was required to bring its <keyword id="9693137" type="UNKNOWN" weightage="20" keywordseo="excess-shareholding">excess shareholding</keyword> to 40 per cent of the paid-up voting equity capital of the bank. "In order to be fully compliant with the Licensing Guidelines, the NOFHC has today i.e. August 03, 2020 informed the bank that it has diluted its excess shareholding of 20.95 per cent i.e. 33,73,67,189 equity shares of Rs 10 each fully paid-up in the bank through secondary market sale," it said. Bandhan Bank said that it had been exploring various options to bring the shareholding to the prescribed level. Pursuant to amalgamation of GRUH Finance Limited into and with the bank effective from October last year and consequent to issuance of fresh equity shares to the shareholders of GRUH, the shareholding of the holding company diluted from 82.26 per cent to 60.96 per cent of its paid-up voting equity share capital, the filing said. Shares price of the bank on Monday plunged 10.60 per cent on the BSE to close at Rs 308.65 per share. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/one-time-loan-restructuring-dilemma-rbi-wont-commit-and-india-inc-wont-stop-asking-for-it/articleshow/77328145.cms" data-type="tilCustomLink">One-time loan restructuring dilemma - RBI won’t commit, and India Inc won’t stop asking for it</a> <a href="https://www.businessinsider.in/thelife/news/the-10-richest-people-in-the-middle-east-ranked/slidelist/77304823.cms" data-type="tilCustomLink">The 10 richest people in the Middle East, ranked</a>

Bandhan Bank promoter sells 21% stake to meet RBI norms

Kolkata, Apr 15 () Private lender Bandhan Bank doesnot apprehend any repayment issues owing to the nationwidelockdown to contain the spread of COVID-19, a top bankofficial said.Recovery, however, has been halted at present due tothe curbs.MD and CEO of Bandhan Bank Chandrasekhar Ghosh saidrepayments should not be a cause for concern as borrowers'businesses are continuing."Recovery of micro loans from borrowers have stoppedfrom March 23," Ghosh told .He said since bank personnel cannot physically go tocollect the loan repayment amount, the outstanding will remainat the previous level.Ghosh said interest will be recovered at the time ofrepayment, irrespective of whether the customer opted for thethree-month RBI moratorium."We are explaining to our customers that the costsinvolved in opting for the moratorium are high since theinterest will be compounded at the time of repayment," anotherbank official said.In case of micro-finance, repayments are made on aweekly basis (equated weekly instalments), and not as EMIs.The official said most of the bank's customers areapprised of the costs of opting for the moratorium and areagreeable to repay as per schedule.Earlier during the start of the bank in August 2015,exposure to the micro-banking sector was almost 80 per cent oftotal advances.Ghosh had earlier said the lender's aim is to lowerthe micro-banking exposure to 50 per cent. After its mergerwith Gruh Home Finance, the exposure had come down to around61 per cent as on December 31.As on March 31, Bandhan Bank's total loan book stoodat Rs 71,825 crore, reflecting a 60 per cent year-on-yeargrowth.Deposits from the micro-banking sector continues to bestrong and stable, despite the lockdown, Ghosh added. DCRBT RBT

Lockdown: Bandhan Bank sees no problem in loan repayments

New Delhi, May 12 () Bandhan Bank on Tuesday said its net profit for March quarter, 2019-20 stood at Rs 517.28 crore. The Kolkata-headquartered lender said it has made special provisions related to COVID-19, during the quarter. The bank registered a net profit of Rs 650.87 crore during January-March, 2018-19. In view of the amalgamation with GRUH Finance, the figures for the latest quarter/fiscal are not comparable with the year-ago periods, Bandhan Bank said in a regulatory filing. Total income in March quarter was Rs 3,346.47 crore. It was Rs 2,220.32 crore in the year-ago period, it said. The bank made provisions for bad loans and contingencies to the tune of Rs 827.36 crore during the quarter under review, substantially higher from Rs 153.28 crore in the year-ago same period. Gross non performing assets (NPAs) fell to 1.48 per cent of the gross advances as on March 31, 2020 from 2.04 per cent by the same period of 2019. In value terms, gross NPAs or bad loans stood at Rs 992.77 crore at the end of March 2020 as against Rs 819.55 crore by the same period of 2018-19. Net NPAs remained static at 0.58 per cent of the net advances. However, in absolute numbers, it stood at Rs 389.39 crore at the end of 2019-20, higher than Rs 228.32 crore by the end of the preceding fiscal. For the entire 2019-20, the net profit of the bank stood at Rs 3,023.74 crore. It was Rs 1,951.50 crore in 2018-19. Income was at Rs 12,434.69 crore during the year. It was Rs 7,706.42 crore in the preceding fiscal."Q4FY20 has been a satisfying quarter given the challenges faced during the quarter. During the quarter, the Bank has showcased the strengths of its deposit franchise with continuously growing deposits in all the segments," Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank said. The bank has made additional COVID-19 related provision on standard advances amounting to Rs 690 crore, he said. "We have taken all the necessary steps to ensure safety of our customers and employees. We further endeavour to work with our employees and customers ensuring to be at the service in this critical time," Ghosh said. "In view of the amalgamation(with GRUH Finance), the figures for the current quarter/year are not strictly comparable with the corresponding figures of the previous quarter/year," Bandhan Bank said. The Committee of Directors of the Bank at its meeting held on October 21, 2019 had approved allotment of 41,69,48,659 equity shares to the eligible equity shareholders of erstwhile GRUH Finance. Bandhan Bank stock closed 2.36 per cent down at Rs 233.95 on the BSE. KPM ANUANU

Bandhan Bank Q4 profit at Rs 517 cr

Kolkata, Mar 12 () Bandhan Bank Ltd will graduallylower exposure to microcredit in percentage terms over thenext three to five years, its MD and CEO Chandra Sekhar Ghoshsaid on Thursday.When the private lender started operations in August2016, microcredit constituted 85 per cent of its total loanportfolio."The bank's exposure to microcredit at present is 61per cent. Over the next three to five years, the bank's ratioof micro and non-microcredit will be 50:50," Ghosh told .Housing loans make up for 30 per cent of the creditportfolio and MSME 9 per cent, he said.As of December 2019, the bank's total exposure stoodat Rs 65,456 crore, with a deposit base of Rs 55,000 crore andCASA level at 34 per cent, Ghosh said."We are expecting a secular growth in terms of creditofftake in the current financial year despite the slowdown inthe economy," he said."Though there is a slowdown due to multiple factors,the impact on the credit growth of Bandhan Bank will not bevery much. Due to good rabi crop, spending by low-middleincome consumers will be at a good level," Ghosh said.He said the bank is working hard towards meetingregulatory compliance due to which restrictions on the openingof new branches have been lifted by the RBI."Bandhan Bank is fully committed about meeting RBIcompliance in respect of bringing down the stake of non-operating holding company to the stipulated level of 40 percent from the present 61 per cent," he said.Following its merger with Gruh Finance, the promoterholding in the bank has come down from 80 per cent to 61 percent.The Kolkata-based bank has 1,013 branches and otherforms of banking outlets across the country. DCSOM SOM

Bandhan Bank to gradually pare micro credit exposure: Ghosh

Mumbai, Jan 14 () Private sector lender Bandhan Bank on Tuesday reported a huge jump in net profit, including that of merged Gruh Finance, to Rs 731 crore for December 2019 quarter.
 Bandhan Bank had reported a post tax net of Rs 331.26 crore in the year ago period.
However, the results are not comparable as the reported quarter includes the performance of gruh Finance, with which it merged in 2019.
The microlender-turned-universal bank had to set aside Rs 200 crore as loan loss provisions after evaluating risks for its portfolio from in the restive North Eastern India.
Over a tenth of the Kolkata-headquartered bank's overall book come from Assam, which has been witnessing a spate of protests by citizens over the passage of the amendments to Citizenship Act by both the Houses of Parliament.
The bank's chief executive and managing director C S Ghosh hinted that this is a temporary phenomenon, which may last for up to two months, but explained that it has decided to be cautious by setting aside the money.
The bank's core net interest income grew 37.10 per cent to Rs 1,541 crore on a 88 per cent jump in loan portfolio and a blended net interest margin of 7.91 per cent.
The non-interest income grew 52.99 per cent to Rs 358 crore.
Share of the low cost current and savings account deposits has now gone up to 34 per cent as against 32.90 per cent at the end of the preceding quarter.
The bank's gross non performing assets ratio stood at 1.93 per cent as against 2.41 per cent in the year-ago period.
The overall provisions stood at Rs 294 crore compared to Rs 145 crore in the year-ago period.
Meanwhile, its executive director Sudhir Choksey said housing loan growth has become slow and it may take a few more quarters to recover.
The bank's chief financial officer Sunil Samdani said the bank is evaluating all options to reduce the promoter holding to 40 per cent in compliance with the RBI mandate, but did not share the specific details.
The bank's scrip closed 1.03 per cent up at Rs 518.95 apiece on the BSE. AA BAL
BAL

Bandhan Bank reports Q3 net profit at Rs 731 cr

(Eds: Adding details) New Delhi, Jul 15 () Private sector Bandhan Bank on Wednesday reported nearly 32 per cent decline in net profit to Rs 549.82 crore for April-June quarter of the current fiscal, mainly due to additional provisioning in the wake of COVID-19. The Kolkata-headquartered lender had posted a net profit of Rs 803.62 crore in the corresponding quarter previous fiscal. Sequentially, the profit in June quarter FY21 was higher, compared to Rs 517.28 crore in March 2020 quarter. The bank's provision for bad loans and contingencies jumped multi-fold to Rs 849.06 crore for April-June quarter as against Rs 125.36 crore parked aside for the same quarter in FY20, it said in a regulatory filing. Total income of the bank increased to Rs 3,404.84 crore over Rs 2,962.33 crore in the year-ago period on the back of healthy interest income. Interest income of the lender jumped to Rs 3,018.09 crore from Rs 2,631.30 crore. On the asset quality front, the lender witnessed improvement as the gross non-performing assets (NPAs) fell to 1.43 per cent of the gross advances by end of June 2020, from 1.70 per cent in the same month of 2019. In absolute value, the gross NPAs or bad loans stood at Rs 1,006.67 crore as against Rs 1,019.70 crore. Likewise, the net NPAs came down to 0.48 per cent (Rs 335.77 crore) from 0.59 per cent (Rs 347.50 crore). The merger of erstwhile Gruh Finance Limited (Gruh) with Bandhan Bank Limited had been approved by the Reserve Bank of India, Competition Commission of India, stock exchanges, respective shareholders and creditors of each entities as applicable and the National Company Law Tribunals (NCLT) Bench at Kolkata and Ahmedabad, with appointed date as January 1, 2019 and effective date as October 17, 2019, it said in the filing. "In view of the amalgamation, the figures for the quarter ended June 30, 2019 have been arrived on the basis of aggregation of the separate results of the bank and Gruh for the said period, published earlier, i.e. prior to the effective date of amalgamation," it added. Bandhan Bank said its deposit increased by 35.30 per cent year-on-year to Rs 60,610 crore. Accelerated additional provision on standard advances amounting to Rs 750 crore taken for COVID-19 to further strengthen the balance sheet, it said. "With this provision and additional standard assets provision that bank is carrying in micro banking portfolio total additional provision in books stands at Rs 1,769 crore." Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank said: "During the quarter, we have started collections post unlocking announced by the government. Overall bank collections improved to 76 per cent by end of June 2020 compared to 29 per cent in April 2020. "We continued to showcase the strengths of our retail deposit franchise with strong growth of 35 per cent during this difficult time, especially CASA (current account savings account) growing by over 47 per cent." Also, the lender added 2.13 lakh customers during the quarter with total customer base at 2.03 crore as on June 30, 2020. As on June 30, 2020, the total number of branches, banking units and ATM network stood at 1,018, 3,541 and 485 respectively, the bank said. Stock of Bandhan Bank closed at Rs 349.65 apiece on BSE, down 0.78 per cent from previous close. KPM BAL

Bandhan Bank Q1 net profit falls 32 pc to Rs 550 cr on higher provisioning

New Delhi, Jan 14 () Bandhan Bank on Tuesday reported over two-fold jump in net profit to Rs 731.03 crore for the third quarter ended December 31, 2019.
The private sector lender had logged a profit of Rs 331.25 crore in October-December, 2018-19.
Total income increased to Rs 3,075.31 crore in the quarter under review as against Rs 1,883.65 crore in the year-ago period, Bandhan Bank said in a statement.
Gross non-performing assets (NPAs) declined to 1.93 per cent of the total advances during the quarter, against 2.41 per cent at the end of third quarter of the previous fiscal.
However, net NPAs of the bank rose slightly to 0.81 per cent in the quarter from 0.70 per cent of the net advances.
During the quarter, the bank made additional provision of Rs 200 crore on standard advances in microfinance portfolio after evaluating the risk observed in certain areas of a northeastern state, though having a dwindling effect. 
 The Net Interest Income grew 37.10 per cent to Rs 1,541 crore as against Rs 1,124 crore in the corresponding quarter of the previous year.
 "The merger of erstwhile Gruh Finance with Bandhan Bank had been approved by the RBI, Competition Commission of India, stock exchanges, respective shareholders and creditors of each entities as applicable and the National Company Law Tribunals (NCLT) Bench at Kolkata and Ahmedabad, with appointed date as January 1, 2019 and effective date as October 17, 2019," it said. 
Accordingly, the scheme had been given effect to in the financial results for December quarter, it said, adding, the figures for the quarter are not comparable with the corresponding figures of the previous year/periods in view of the amalgamation. 
The Committee of Directors of the bank at its meeting held on October 21, 2019 has approved the allotment of 41,69,48,659 equity shares of face value of Rs 10 each, fully paid up, to the eligible equity shareholders of erstwhile Gruh Finance based on record date of October 17, 2019. DP
 ANU

Bandhan Bank Q3 profit surges over two-fold to Rs 731 cr

New Delhi, Jan 27 () Mortgage lender HDFC Ltd on Monday reported a 24.3 per cent rise in consolidated net profit to Rs 4,196.48 crore for the third quarter ended December.
It had posted a net profit (before adjustment for minority interest) of Rs 3,377.05 crore during the corresponding October-December period of 2018-19.
Total income on consolidated basis rose to Rs 29,073.19 crore during the quarter as against Rs 24,653.15 crore in the year-ago period.
On standalone basis, the net profit jumped by nearly four times to Rs 8,372.49 crore from Rs 2,113.80 crore in same period of previous fiscal, HDFC said in a regulatory filing.
Income was up at Rs 20,291.46 crore as against Rs 10,582.49 crore.
Gruh Finance Ltd (Gruh), an associate of the Corporation merged into and with Bandhan Bank with effect from October 17, 2019, it added.
"The Corporation was allotted 15,93,63,149 shares aggregating to 9.90 per cent of the total issued share capital of Bandhan Bank...on derecognition of investment in Gruh, the Corporation has recognised a fair value gain of Rs 9,019.81 crore," HDFC said.
Stock of HDFC closed at Rs 2395.80 on the BSE, down 2.25 per cent from previous close. KPM BAL

HDFC net profit rises 24 pc to Rs 4,196 cr in Q3

New Delhi, Jan 28 () Shares of HDFC on Tuesday jumped over 3 per cent after the company reported a near four-fold growth in net profit for the three months to December 2019.
 The company's scrip gained 3.13 per cent to Rs 2,470.85 on the BSE.
 On the NSE, it climbed 3.16 per cent to Rs 2,471.70.
 The mortgage lender on Monday reported a near four-fold growth in net profit at Rs 8,372.5 crore for the three months to December as against Rs 2,113.8 crore in the same period last fiscal year.
 The company said the massive gain in bottomline is notional but mandatory from an accounting perspective, as it is based on the valuation gain on its 9.9 per cent stake in Bandhan Bank following the merger of subsidiary Gruh Finance with the Kolkata-based lender effective last October.
 For the first time, the loan book crossed Rs 5 lakh crore during the quarter, vice chairman and chief executive Keki Mistry said.
 The company booked a 24 per cent growth in individual loans, after adding back loans sold in the preceding 12 months, while excluding that the same clipped at 16 per cent. SUM ANS
ANS

HDFC shares rise over 3 pc as December quarter profit soars

New Delhi, Jan 28 () Shares of HDFC on Tuesday closed nearly 2 per cent higher after the company reported a near four-fold growth in net profit for the December 2019 quarter.
The company's scrip rose 1.53 per cent to close at Rs 2,432.40 on the BSE. During the day, it jumped 3.13 per cent to Rs 2,470.85.
On the NSE, it rose by 1.56 per cent to close at Rs 2,433.40.
About 1.85 lakh shares of the company were traded on the BSE and 66 lakh shares on the NSE during the day. 
The mortgage lender on Monday reported a near four-fold growth in net profit at Rs 8,372.5 crore for the three months to December as against Rs 2,113.8 crore in the same period last fiscal year.
 The company said the massive gain in bottomline is notional but mandatory from an accounting perspective, as it is based on the valuation gain on its 9.9 per cent stake in Bandhan Bank following the merger of subsidiary Gruh Finance with the Kolkata-based lender effective last October.
 For the first time, the loan book crossed Rs 5 lakh crore during the quarter, vice chairman and chief executive Keki Mistry said.
 The company booked a 24 per cent growth in individual loans, after adding back loans sold in the preceding 12 months, while excluding that the same clipped at 16 per cent. 

 
 SUM ANS
ANS

HDFC shares end nearly 2 pc higher post December quarter earnings

Mumbai, Jan 13 () The deepening slowdown has had its impact on the deal market in 2019 with mergers and acquisitions (M&amp;As) plummeting over 34 per cent to USD 67.1 billion but still making it the second best, on the back of the USD 6-billion ArcelorMittal takeover of Essar Steel, according to a report.
 As per the report by Mergermarket, M&amp;As in 2019 was the second highest in value despite declining 34.4 per cent in 2018, which was the best-ever. But, the report is positive about 2020 as the government has eased foreign investment restrictions and plans to divest state-owned companies.
 The report attributes the optimism to the relaxation in the foreign direct investment policy in August, loosening the restriction on coal and lignite mining, contract manufacturing, single-brand retail, and digital media, which may bring more opportunities to foreign investors.
 "Overall M&amp;As touched USD 67.1 billion across 422 deals, down 34.4 per cent in value and 3.4 per cent in volume compared to 2018 when the street saw 437 deals worth USD 102.2 billion," Mergermarket said in a note on Monday.
 At USD 67.1 billion, India accounted for 10.4 per cent of the deals in the Asia-Pacific region, said the report.
 Of the total, inbound activities remained strong with USD 37.9 billion across 221 deals, while outbound deal value plunged 84.8 per cent to a low of USD 2 billion across 54 deals, the lowest since 2014, when it was printed at USD 1.7 billion.
 The numbers would have much worse had it not been for the Essar Steel-ArcelorMittal-Nippon Steel deal worth USD 6 billion at the end of 2019.
 The second biggest was the USD 3.65-billion deal involving a consortium led by Brookfield Infrastructure Partners taking over Tower Infrastructure Trust in July followed by the Bandhan Bank-Gruh Finance deal of USD 3 billion in January.
 The fourth-biggest deal was Bhushan Power &amp; Steel Ltd takeover by JSW Steel for USD 2.74 billion in September, and the fifth was Reliance Industries' USD 2.45-billion deal with Pipeline Infrastructure Trust in March. 
 Private equity players continued to lead the deal street with buyouts reached record levels for two years in a row at USD 19.6 billion across 123 deals, surpassing the USD 17.6 billion involving 123 deals in the previous year.
 Private equity exits, on the other hand, returned to a much more modest level at USD 7.9 million across 48 deals in 2019, following the all-time high in 2018 at USD 35.9 billion involving 59 deals.
 With USD 8.3 billion deals across 79 activities, the US remained the dominant foreign investor both in terms of deal value as well as deal count, followed by Canada at USD 7.9 billion across 12 transactions, on the back of two infra-related deals: Brookfield's USD 3.7 billion investment in Tower Infrastructure Trust and India Infrastructure Trust's USD 2.4 billion investment in Pipeline Infrastructure.
 Meanwhile, deals from Japan jumped a whopping 189 per cent to USD 3.5 billion across 23 deals in 2019 from USD 1.2 billion across 16 deals in 2018 and the Japanese investors are bullish on the country's logistic industry given the e-commerce boom. BEN HRS

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A five-year-old bank lending to poor women in rural India has made it to MSCI in New York

Katya Naidu