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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

FPIs pour ₹11,452 crore in financial services in the first half of November

<ul><li><keyword id="6383459" type="UNKNOWN" weightage="20" keywordseo="Ujjivan-Small-Finance-Bank">Ujjivan Small Finance Bank</keyword> has received <keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">SEBI</keyword>’s nod for an <keyword id="6354763" type="UNKNOWN" weightage="20" keywordseo="ipo">IPO</keyword>. </li><li>Its Q2 report also shows a profit of ₹93 crores. </li><li>This year, the bank has also seen a change in its management with Nitin Chugh being named CEO and Sachin Bansal joining as an independent director.</li></ul>It’s been quite a 2019 from Ujjivan Small Finance Bank. The bank has just <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/ujjivan-small-finance-bank-gets-sebis-go-ahead-for-rs-1200-crore-ipo/articleshow/71707806.cms">received </a>a nod from the Securities and Exchange Board of India (SEBI) to go ahead with an IPO. It plans to raise ₹1,200 crore from the public. According to reports, the bank had filed its request with the government body in August. The bank also released its <keyword id="56260" type="PERSON" weightage="20" keywordseo="Q2-earnings">Q2 earnings</keyword> report which showed that it posted a profit of ₹93 crore. And, the profits jumped by 111%. "The quarter was good for us. The transition phase is over with most of our branches converting into the banking outlets. Our focus now is on growth," Ujjivan Financial Services' managing director and CEO, Ittira Davis, told PTI. In May 2019, the bank had roped in HDFC Bank's digital banking head Nitin Chugh as its managing director and CEO. In the same month, Flipkart founder Sachin Bansal too joined the bank as an independent director. With its parent company Ujjivan Financial Services, the bank started as a microfinance company but transformed into a small finance bank in 2017. It commenced operations with five pilot branches in Bengaluru. Today, it has over 180 branches across 20 states. Yet another bank which lends <a href="https://www.businessinsider.in/stock-market/news/bandhan-bank-stock-hits-upper-circuit-as-its-believed-to-enter-msci/articleshow/71536698.cms">to rural women</a>, Bandhan Bank too has taken large strides this month. The bank’s stock will be listed at MSCI index in New York, giving it access to international investors. This is a large feat for a five-year old bank, especially amidst a brewing crisis in the Indian banking sector.

You Searched For "bandhan bank msci" and got 3 results

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

Katya Naidu

FPIs pour ₹11,452 crore in financial services in the first half of November

Rounak Jain

With profits in its pocket, Ujjivan Small Finance Bank heads for an IPO

Sanchita Dash

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