Bandhan Bank Share Price Dip Over 3% on Monday, Following Recent Surge

The share price of Bandhan Bank Limited saw a decline by over 3% on October 14, 2024, trading at ₹203.70 as of 10:03 AM. The stock opened at ₹210.64 on Monday, following a closing price of ₹210.26 on the previous Friday. 

This drop comes after a significant surge of more than 9% in Bandhan Bank’s shares during Friday’s trading session, post the Reserve Bank of India’s (RBI) approval of Partha Pratim Sengupta’s appointment as Managing Director and Chief Executive Officer (MD and CEO) of the bank. The announcement was made public through an exchange filing after market hours on Thursday.

On October 10, 2024, Bandhan Bank also revealed that the National Credit Guarantee Trustee Company (NCGTC) had completed a detailed forensic audit of claims made under the Credit Guarantee Fund for Micro Units (CGFMU) scheme. The audit assessed the total claim payout to the bank under this scheme at ₹1,231.29 crore as of March 31, 2024.

In its unaudited financial performance for the quarter ended June 30, 2024, Bandhan Bank reported a total income of ₹6,06,335.83 lakh, a notable increase from ₹4,90,802.91 lakh in the same quarter of the previous year. The net profit for the same period rose to ₹1,06,346.05 lakh, up from ₹72,105.36 lakh in the quarter ended June 30, 2023. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.