Bandhan Bank's weak asset quality in Q3 upsets Street!
Mon, Feb 12, 2024 2:55 PM

Bandhan Bank's weak asset quality in Q3 upsets Street!

A Flip by Avya Verma
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Bandhan Bank's Q3FY24 results disappointed investors as asset quality remained elevated. The stock plunged over 7% to Rs 199 per share on February 12 and has declined 12% in the past month. Though brokerages maintained 'buy' calls, they reduced their target prices amid a forensic audit by NCGTC to assess loan evergreening. The bank's net NPA rose to 2.2%, while gross NPA declined to 7%.

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