Share price of private sector lender Bandhan Bank rose 4 percent intraday today on single-digit growth in deposits and advances for quarter ended September 2020. The stock has gained 16.55% in the last 5 days. It hit an intraday high of Rs 327, rising up to 3.97%.
Bandhan Bank share stands higher than 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages. In one year, the share has lost 33.52% and fallen 37.29% since the beginning of this year.
Total 5.59 lakh shares changed hands amounting to turnover of Rs 18.04 crore on BSE. Market cap of the bank rose to Rs 51,305 crore.
Later, the share closed 1.30% higher at Rs 318 on BSE.
Total advances in Q2 grew 3 percent sequentially while deposits growth was 9 percent QoQ, the bank said, adding the year-on-year increase was 20 percent and 34 percent respectively.
Total advances rose to Rs 76,724 crore as on September 2020 compared to Rs 74,331 crore as on June 2020 and Rs 64,186 crore in September 2019, the bank said in its BSE filing.
Deposits jumped to Rs 66,153 crore in September 2020, from Rs 60,610 crore in previous quarter and Rs 49,195 crore in year-ago period, it added.
Bandhan Bank said collection efficiency for September was around 92 percent. Of this, the collection efficiency for micro finance segment stood at around 89 percent, while for mortgage, and other (including SME & NBFC) it was about 98 percent each.
It said 94 percent of micro finance customers paid in September.
During the quarter the bank reduced its minimum interest rate on saving bank deposits from 4 percent per annum to 3 percent. The liquidity coverage ratio stood at around 157 percent as of September 2020, the bank said.