Bandhan Bank Limited (BANDHANBNK)
₹167.50 -1.67% last close, 16 Oct
Q2 FY27 results
📅 Next results: 28 Oct 2026 (board meeting)Bandhan Bank Limited's board meets on 28 Oct 2026 to consider its Q2 FY27 results (July-September 2026).
In its latest reported quarter, Q4 FY26, Bandhan Bank's net interest income was ₹2,795 Cr (+1.4% year on year, +4.0% on the previous quarter), and net profit ₹534 Cr (+67.9% year on year).
| Q4 FY26 (₹ Cr) | Value | YoY vs Q4 FY25 | QoQ |
|---|---|---|---|
| Net interest income | ₹2,795 | +1.4% | +4.0% |
| Net profit | ₹534 | +67.9% | +159.7% |
| EPS (₹) | 3.32 | +68.5% | +159.4% |
| Gross NPA | 3.27% | — | — |
BANDHANBNK delivery percentage and open interest
NSE end-of-day data for
On Fri, 16 Oct 2026, 32.23% of the BANDHANBNK shares traded on NSE were taken to delivery, against the stock's own 20-session average of 40.61%. That is close to its usual level. Volume was 0.3 times its average, well below normal. In BANDHANBNK futures, open interest fell 1.38% while the futures price fell 1.77%: long unwinding (longs closing out).
Delivery in the last 5 sessions: 40.5% · 21.0% · 32.4% · 22.8% · 32.2%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Bandhan Bank clarified to exchanges that it is unaware of any developments regarding media reports alleging Abu Dhabi's IHC is exploring a promoter stake acquisition. The exchange had sought clarification following a 9.02% surge in the stock price from Rs 157.35 to Rs 171.55 on October 13, 2026. The bank stated that it has not received any communication regarding such negotiations and has not withheld any material information under SEBI LODR Regulation 30. The bank attributed the trading volume and price movements purely to market-driven conditions with no material operational impact.
- Clarification issued following reports of Abu Dhabi's IHC exploring promoter stake acquisition
- Stock price jumped 9.02% on October 13, 2026, rising from Rs 157.35 to Rs 171.55
- Bank explicitly denied awareness of any negotiations or communication regarding a stake buyout
- Confirmed zero material impact on operations and no undisclosed price-sensitive information
Bandhan Bank released its provisional quarterly business figures for Q2 ended September 30, 2026. Loans and advances rose 13.1% YoY (1.8% QoQ) to ₹1,58,335 crore, while total deposits grew 9.2% YoY (4.7% QoQ) to ₹1,72,689 crore. However, CASA deposits contracted 4.8% QoQ to ₹46,131 crore, driving the CASA ratio down to 26.71% from 29.40% in June 2026. Pan-bank collection efficiency remained stable at 98.9%, with liquidity coverage ratio (LCR) healthy at approximately 137.88%.
- Loans & Advances grew 13.1% YoY and 1.8% QoQ to ₹1,58,335 crore
- Total deposits expanded 9.2% YoY and 4.7% QoQ to ₹1,72,689 crore
- CASA ratio deteriorated to 26.71% from 29.40% in the preceding quarter (CASA down 4.8% QoQ)
- Bulk deposits surged 10.0% QoQ to ₹47,218 crore, while Retail Term deposits grew 8.0% QoQ to ₹79,340 crore
- Pan-bank collection efficiency (excluding NPA) held steady at 98.9% with EEB at 98.6%
CRISIL Ratings has reaffirmed Bandhan Bank's rating on Non-Convertible Debentures (NCDs) at 'CRISIL AA-/Stable' and Certificates of Deposit at 'CRISIL A1+'. The rated quantum for NCDs was reduced to Rs 230 crore from Rs 1,295 crore, as the bank repaid Rs 1,065 crore of NCDs leading to rating withdrawal on the redeemed portion. The rating for Certificates of Deposit was reaffirmed on a rated amount of Rs 6,000 crore. This action reflects the bank's maintained credit profile and routine debt obligations fulfillment.
- NCD rating reaffirmed at CRISIL AA-/Stable on an outstanding amount of Rs 230 crore
- NCD rated amount reduced from Rs 1,295 crore following full repayment of Rs 1,065 crore
- Certificates of Deposit rating reaffirmed at CRISIL A1+ for Rs 6,000 crore
Bandhan Bank has updated its list of Key Managerial Personnel (KMP) authorised to determine and disclose material events under Regulation 30(5) of SEBI LODR, effective September 26, 2026. This follows the previously approved appointment of Mr. Vinay Jain as Interim Chief Financial Officer (CFO) and KMP, serving from September 26, 2026, through March 31, 2027. Managing Director & CEO Mr. Partha Pratim Sengupta retains authority for both determination and disclosure of material events, alongside senior executive directors. The filing is an administrative procedural update reflecting the interim CFO's onboarding.
- Mr. Vinay Jain takes charge as Interim CFO and KMP effective September 26, 2026
- Interim CFO tenure scheduled until March 31, 2027
- Managing Director & CEO Mr. Partha Pratim Sengupta authorized for determination and disclosure
- Executive Directors Mr. Ratan Kumar Kesh and Mr. Rajinder Kumar Babbar authorized for disclosure and contingency determination
- Refers to prior board intimation dated July 21, 2026
Rating agency ICRA has reaffirmed its credit ratings for Bandhan Bank Limited's debt instruments. The bank's Rs 75 crore Non-Convertible Debentures (NCDs) were reaffirmed at [ICRA] AA- with a Stable outlook. Additionally, its Rs 3,000 crore Certificates of Deposit (CD) programme was reaffirmed at [ICRA] A1+. This routine surveillance reaffirms the bank's liquidity and creditworthiness across the rated Rs 3,075 crore instruments.
- ICRA reaffirmed [ICRA] AA- (Stable) rating on Rs 75 crore Non-Convertible Debentures
- ICRA reaffirmed [ICRA] A1+ rating on Rs 3,000 crore Certificates of Deposit
- Total rated debt instruments across both programs amount to Rs 3,075 crore
- Rating action communication received on September 25, 2026
Bandhan Bank Limited disclosed the conclusion of an institutional investor meeting held on September 17, 2026, at the Jefferies India Forum 2026 in Gurugram. The bank met with three institutional investors: C Worldwide Asset Management, Schroder Investment Management, and Tara Capital Partners. This serves as a statutory post-meet compliance update following its prior intimation on September 10, 2026. No unpublished price sensitive information or financial guidance was disclosed in the filing.
- Meeting held on Thursday, September 17, 2026, at Gurugram
- Part of the Jefferies India Forum 2026 event
- Attended by 3 institutional entities: C Worldwide Asset Management, Schroder Investment Management, and Tara Capital Partners
- Statutory update following previous disclosure dated September 10, 2026
Bandhan Bank Limited disclosed the conclusion of an institutional investor group meeting held on September 11, 2026, at the UBS India Summit 2026 in Mumbai. The interaction included six institutional funds such as Axis Asset Management, Balyasny Asset Management, and Pinpoint Asset Management. The filing is an administrative compliance update under SEBI Listing Regulations with no unpublished price-sensitive information or financial figures reported. Bandhan Bank carries a market capitalization of Rs 27,591 Cr and reported TTM revenue of Rs 24,423 Cr.
- Meeting conducted on September 11, 2026, at Mumbai
- Participated in UBS India Summit 2026 as a group interaction
- Attended by 6 institutional investors including Axis AMC, Balyasny, North Rock, PAGAC, Pinpoint, and Tara Capital
- Filing follows prior advance intimation dated September 08, 2026
Bandhan Bank Limited has informed the exchanges regarding its participation in two upcoming institutional investor conferences. The bank will attend the Jefferies India Forum on September 17, 2026, in Gurugram, followed by the J.P. Morgan India Conference on September 21, 2026, in Mumbai. Both events will be held via in-person group meetings using the already published Q1 FY27 presentation. This is a routine investor interaction filing with no new operational or financial disclosures.
- Participation in Jefferies India Forum 2026 scheduled for September 17, 2026, in Gurugram
- Participation in J.P. Morgan India Conference 2026 scheduled for September 21, 2026, in Mumbai
- Both interactions are structured as in-person group meetings with institutional investors
Bandhan Bank's Nomination and Remuneration Committee approved the allotment of 35,768 equity shares of face value Rs. 10 each on September 09, 2026, pursuant to the exercise of employee stock options. Following this allotment, the bank's paid-up equity share capital marginally increased to Rs. 16,11,14,73,480 comprising 1,61,11,47,348 equity shares. The new shares rank pari passu with existing equity shares in all respects, including dividends.
- Allotment of 35,768 equity shares of face value Rs. 10 each under ESOP Series 1
- Issued and paid-up equity share capital increases from Rs. 16,11,11,15,800 to Rs. 16,11,14,73,480
- Total number of issued shares expanded from 1,61,11,11,580 to 1,61,11,47,348
- Newly allotted shares rank pari passu with existing shares in all aspects, including dividend
Bandhan Bank has informed the exchanges of its participation in the UBS India Summit 2026 scheduled for September 11, 2026. The engagement will be an in-person group meeting held in Mumbai. The bank stated that its existing presentation (Q1 FY26-27 investor presentation) will be referred to during the interaction, indicating no new unpublished price-sensitive financial disclosures.
- Participation scheduled for September 11, 2026
- Event: UBS India Summit 2026 in Mumbai
- Format: In-person group meeting with institutional investors
- Presentation referenced: Existing Q1 FY 26-27 investor presentation
Bandhan Bank responded to exchange queries regarding a 4.62% surge in its share price from Rs 164.50 to Rs 172.10 on September 08, 2026, following media reports on new credit card rollouts. The bank clarified that it launched a credit card portfolio in partnership with Mastercard on September 07, 2026, as part of ordinary course of business. Management stated that this does not constitute a material event under Regulation 30 of SEBI LODR, and no undisclosed material information exists. The price movement was characterized as purely market-driven.
- Clarified share price jump of 4.62% moving from Rs 164.50 to Rs 172.10 on September 08, 2026
- Announced rollout of credit card portfolio in collaboration with Mastercard on September 07, 2026
- Stated product launch is in the ordinary course of business and not material under Regulation 30 of SEBI LODR
- Confirmed no undisclosed price-sensitive information or pending regulatory/legal proceedings
Crisil ESG Ratings & Analytics Limited has voluntarily assigned an ESG Rating of 'Crisil ESG 69' (Category: Strong) and a Core ESG Rating of 'Crisil Core ESG 73' to Bandhan Bank for Fiscal 2026. The evaluation was based on the bank's public disclosures and publicly available data. This certification reflects the bank's environmental, social, and governance profile but does not alter its credit rating or financial operations.
- Assigned an ESG Rating of 'Crisil ESG 69' with a rating category of 'Strong' for Fiscal 2026.
- Assigned a Core ESG Rating of 'Crisil Core ESG 73' by Crisil ESG Ratings & Analytics Limited.
- Evaluation was undertaken voluntarily based on public domain information.
Bandhan Bank's Board of Directors approved the grant of 1,04,87,996 equity stock options under ESOP Series 1 (Tranche 8) on September 05, 2026. The options were granted at an exercise price of ₹164.95 per share, representing the previous trading day's closing price. Each option is convertible into one equity share of face value ₹10 upon exercise. The options follow a graded vesting schedule of 25% annually across four years.
- Granted 1,04,87,996 equity stock options to eligible employees under ESOP Series 1 (Tranche 8)
- Grant price fixed at ₹164.95 per option, based on closing price as of September 04, 2026
- Each option carries the right to receive 1 equity share of face value ₹10
- Graded 4-year vesting schedule: 25% vests each year on completion of years 1, 2, 3, and 4
Bandhan Bank's Board has recommended the re-appointment of Mr. Rajinder Kumar Babbar as Executive Director & Chief Business Officer for a 3-year term starting March 08, 2027, subject to RBI and shareholder approvals. The Board also approved the re-appointment of Chief Compliance Officer Amitava Goswami for 3 years effective November 29, 2026. Additionally, Nitin Arora has been appointed as the Chief of Internal Vigilance for a 3-year term from September 22, 2026, and the interim term for Chief Audit Executive Sandip Kumar Bubna was extended by 4 months up to February 26, 2027.
- Board recommends re-appointment of Rajinder Kumar Babbar as ED & CBO for 3 years starting March 08, 2027
- Re-appointment of Amitava Goswami as Chief Compliance Officer approved for 3 years effective November 29, 2026
- Appointment of Nitin Arora as Chief of Internal Vigilance for 3 years effective September 22, 2026
- Interim Chief Audit Executive Sandip Kumar Bubna's term extended by 4 months up to February 26, 2027
Bandhan Bank Limited submitted an update under Regulation 30 regarding its participation in an institutional investor group meet. The bank attended the Goldman Sachs Asia Leaders Conference 2026 in Hong Kong on September 01, 2026. A total of 5 institutional investors, including Man Investments, Mathews Global Investors, Olayan Capital, Sumitomo Mitsui DS Asset Management, and Vontobel Asset Management, participated in the group meeting. No unpublished price-sensitive information or fresh quantitative projections were disclosed.
- Meeting conducted under Goldman Sachs Asia Leaders Conference 2026 on September 01, 2026 in Hong Kong
- Group meeting held with 5 institutional investor firms
- Participating institutions included Man Investments, Mathews Global, Olayan Capital, Sumitomo Mitsui DS, and Vontobel
- Follows prior intimation dated August 26, 2026 as per SEBI LODR requirements
Financial Performance
Revenue Growth by Segment
Gross advances grew 7% YoY to Rs. 1.4 lakh Cr as of Q2 FY26. The Emerging Entrepreneur Business (EEB) segment declined 13% YoY to Rs. 51,733 Cr, while the secured loan portfolio grew 25% YoY, now accounting for 55% of total advances. Non-interest income moderated 10% YoY due to lower treasury gains, but third-party product income grew 48% YoY.
Geographic Revenue Split
The Eastern and North-Eastern regions account for 38% of the overall loan portfolio as of June 30, 2025, down from 44% in March 2024. West Bengal and Assam remain the primary concentration hubs, housing 55% of the bank's outlets.
Profitability Margins
Return on Average Assets (RoAA) was 1.5% for fiscal 2025, up from 1.3% in fiscal 2024. For H1 FY26, RoA stood at 0.5% and Return on Equity (RoE) was 4%. Net income for Q2 FY26 was Rs. 3,135 Cr with a PAT of Rs. 112 Cr.
EBITDA Margin
Operating profit for Q2 FY26 stood at Rs. 1,310 Cr. The operating profile was impacted by a 75 bps repo rate cut passed to customers, which compressed margins in the short term until deposit repricing occurs.
Capital Expenditure
Not disclosed in available documents; however, the bank added 4 new branches in Q2 FY26, bringing the total network to 1,754 branches.
Credit Rating & Borrowing
ICRA reaffirmed [ICRA]AA- (Stable) for the NCD programme and [ICRA]A1+ for certificates of deposit. Cost of funds for H1 2025 was 6.7% (annualized), up from 6.0% in fiscal 2024.
Operational Drivers
Raw Materials
Not applicable for banking services; the primary cost driver is the 'Cost of Funds' representing interest paid on deposits.
Capacity Expansion
Current branch network stands at 1,754 branches. Total banking outlets, including doorstep service centres (DSCs) and GRUH centres, reached 6,344 across 35 states and UTs as of June 30, 2025.
Raw Material Costs
Cost of funds increased to 6.7% in H1 2025 from 6.0% in FY24. The bank is proactively reducing savings account rates and expects lower term deposit costs from Q4 FY26 to improve margins.
Strategic Growth
Expected Growth Rate
7%
Growth Strategy
The 'Bandhan 2.0' strategy focuses on transitioning from a microfinance-focused bank to a full-service commercial bank. This involves diversifying into secured assets (now 55% of book), expanding the branch network (1,754 branches), and increasing third-party product cross-selling (which grew 48% YoY).
Products & Services
Microfinance loans (EEB), housing loans (GRUH), wholesale banking, retail assets, savings accounts, current accounts (CASA), and term deposits.
Brand Portfolio
Bandhan Bank, GRUH Finance.
New Products/Services
Third-party products (insurance, mutual funds) contributed to a 48% YoY growth in specific fee income.
Market Expansion
Geographical diversification into Western India following the GRUH Finance merger, while maintaining a competitive edge in East and North-East India (38% of portfolio).
Strategic Alliances
Amalgamation with GRUH Finance Limited (completed October 2019) to diversify into the housing finance segment.
External Factors
Industry Trends
The microfinance industry is implementing new guardrails to manage overleveraging (Bandhan's overleveraged EEB portion is 9.5% vs industry 19% a year ago). There is a broad industry shift toward secured lending and digital customer journeys.
Competitive Landscape
Faces competition from universal banks and NBFC-MFIs; Bandhan maintains a superior 90+ and 180+ DPD profile (2.08%) compared to the industry average (3.27%).
Competitive Moat
Durable advantage through a 20-year track record in microfinance and deep local knowledge in East/North-East India. The group-based individual lending model provides a unique collection and engagement framework.
Macro Economic Sensitivity
Highly sensitive to interest rate cycles; a 75 bps repo cut in Q1 was passed to customers in Q2, impacting immediate yields.
Consumer Behavior
Shift toward secured retail and housing assets as the bank transitions to a full-service commercial model.
Geopolitical Risks
Direct exposure is not material; however, regional economic conditions in West Bengal and Assam (38% of advances) are critical monitorables.
Regulatory & Governance
Industry Regulations
Promoter (BFHL) is required to reduce shareholding in the bank to 26% by August 2030 (currently 40%). The bank must also comply with RBI risk weight norms for microfinance loans.
Environmental Compliance
Direct exposure to environmental risks is not material given the service-oriented nature of banking.
Risk Analysis
Key Uncertainties
Ongoing stress in the EEB segment with gross slippages of Rs. 1,118 Cr in Q2 FY26. Technical write-offs of Rs. 865 Cr were undertaken to manage headline GNPA metrics.
Geographic Concentration Risk
38% of advances and 55% of banking outlets are concentrated in the Eastern and North-Eastern regions, exposing the bank to regional event risks.
Technology Obsolescence Risk
The bank is mitigating technology risks through its Bandhan 2.0 transformation initiatives focused on seamless integrated customer journeys.
Credit & Counterparty Risk
GNPA ratio remained stable QoQ at 5% as of Q2 FY26; Net NPA ratio was 1.4%. Provision Coverage Ratio (PCR) including technical write-offs improved to 87.6%.
