News Indian Bulletin

Bandhan Bank Rises 3% Following Block Sale of 1.76 Billion Shares; Key Information

<p>After over 1.1 percent of the lender’s equity, or 1.8 crore shares, changed hands in two significant deals, Bandhan Bank’s stock increased by more than 3%, according to CNBC-TV18 on July 31.</p>
<p>The shares made up 1.1 percent of Bandhan Bank’s total equity and the transaction was valued at Rs 385.4 crore. The identities of the buyers and sellers have not yet been made public.<img decoding=”async” class=”alignnone wp-image-104500″ src=”×435-11zon-750×422.png” alt=”” width=”1482″ height=”834″ srcset=”×435-11zon-750×422.png 750w,×435-11zon-1024×576.png 1024w,×435-11zon-768×432.png 768w,×435-11zon-1536×864.png 1536w,×435-11zon-390×220.png 390w,×435-11zon-150×84.png 150w,×435-11zon.png 1600w” sizes=”(max-width: 1482px) 100vw, 1482px” /></p>
<p>BNP Paribas made a bulk purchase of 80 lakh Bandhan Bank shares for Rs 211 on July 21.</p>
<p>Since January 1, shares of the private sector lender have decreased 7%, and over the last year, the stock has decreased by 21%.</p>
<p>In comparison to the same quarter a year before, Bandhan Bank posted a net profit of Rs 712 crore for the month of June.</p>
<p>The bank said that the findings showed the lender to be on a steady growth trajectory.</p>
<p>During the quarter under review, the bank’s net non-performing assets rose 390 basis points to Rs 2140 crore. Its deposits surged 16.6 percent while its total loans increased 6.7 percent year over year to Rs 103,170 crore.</p>
<p>As of June 30, Bandhan Bank has 6,140 total branches, up from 5,640 in Q1FY23.</p>
<p>Bandhan Bank’s stock is now up 3.1% at Rs 223.85. After the block trade, the stock reached an intraday high of Rs 225.90.</p>
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