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Bandhan Bank share slips 4% as loan book, deposits fall in Q1

Bandhan Bank share slips 4% as loan book, deposits fall in Q1

The share fell up to 3.86% to Rs 307.25 against previous close of Rs 319.60 on BSE

Bandhan Bank share slips post Q1 business update Bandhan Bank share slips post Q1 business update

Bandhan Bank share fell nearly 4% today after the lender said its loans and deposits have declined on a quarter-on-quarter (QoQ) basis in a business update to the stock exchanges.

The large cap stock has fallen after 3 days of consecutive gain.

The share fell up to 3.86% to Rs 307.25 against previous close of Rs 319.60 on BSE. Bandhan Bank share stands lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The banking stock has fallen 9.71% in one year and lost 23.13% since the beginning of this year. Total 3.48 lakh shares changed hands amounting to turnover of Rs 10.83 crore on BSE.

The stock hit 52-week high of Rs 430.25 on December 11, 2020 and 52-week low of Rs 251.40 on September 25, 2020.

Market cap of the bank fell to Rs 49, 793 crore on BSE.

Later, the stock closed 3% lower at Rs 310 on BSE.

The bank said its total loans and advances fell 8 percent in June quarter to Rs 80,128 crore compared with Rs 87,043 crore in the March quarter. Total deposits contracted by one percent on a QoQ basis to Rs 77,336 crore from Rs 77,972 crore.

On a year-on-year  (YoY) basis, loans and deposits rose 8 percent and 28 percent, respectively.

Within deposits, CASA (current, savings account deposits) shrunk by 2 percent on a QoQ basis but showed a growth of 48 percent on a YoY basis.

However, retail deposits, clocked strong growth in Q1, rising 4 percent on a QoQ basis and 36 percent on a YoY basis. Bulk deposits (larger deposits), however, fell 19 percent sequentially and by one percent on YoY basis.

Ratio of retail to total deposits rose to 83 percent in the June quarter compared with 79 percent in the preceding quarter. CASA ratio, however, declined to 42.9 percent from 43.4 percent sequentially.