Friday, October 29, 2021

Bandhan Bank suffers Rs 3,008 cr Q2 loss | Stock Outlook

     


Bandhan Bank suffers Rs 3,008 cr Q2 loss on higher stressed loan provisions


Private lender Bandhan Bank has suffered a loss of Rs 3,008.6 crore in the second quarter ended September 2021 (Q2FY22) on huge provisions of over Rs 4,600 crore for the bad loans and restructured advances.

It had posted a net profit of Rs 920 crore in the second quarter ended September 2020 (Q2FY22). Sequentially, its net profit was at Rs 373.1 crore in June 2021 quarter (Q1FY22).

The Kolkata-based lender said in a statement that it made an accelerated provision on NPA accounts of Rs 1,500 during the quarter, resulting in a Provision Coverage Ratio of 74 per cent in Q2FY22 as against 62 per cent in Q1FY22. In addition to this, lender has also provided additional standard assets provision amounting to Rs 2,100 crore and provision on restructured assets amounting to Rs 1,003 crore. The provisioning amounts to Rs 4,603 crore.


Stock Outlook

Still long term outlook not positive . In short term 280 -270 is support zone . But avoid will be better. Icicibank , Axis bank , hdfc banks still looks better.


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