On July 5, Bandhan Bank’s share price fell nearly 6% in the early trade as the business’s chief financial officer Sunil Samdani resigned.
Yesterday, Bandhan Bank said that its chief financial officer Sunil Samdani marched down from the position on July 3 to discover professional opportunities outside the bank.

His last working day as the bank’s CFO and key managerial person (KMP) would be September 30, 2023.
The bank plans to identify an appropriate candidate for the office of CFO and KMP, and the said selection would be informed to the stock exchanges in due course, the company said.
The company has shown its Q1 (April-June) business update, in which its Loans & Advances mounted at Rs 1,03,169 crore, down 5.5% QoQ and up 6.7% YoY.

The bank’s total Deposits were up 0.4% QoQ basis at Rs 1,08,479 crore, while YoY basis it augmented by 16.6%.
The bank’s CASA Deposits were down 8% (QoQ) & 2.8% (YoY) at Rs 39,076 crore, while its CASA ratio raised at 36% versus 39.3% (QoQ) and 43.2% (YoY).

Nomura showed a buy rating on Bandhan Bank with a target of Rs 325 per share amid CFO’s resignation and a soft pre-Q1 update.
The bank has stated a decline of 5% in its loan growth compared to the previous quarter. However, there is a 7% upsurge in loan growth compared to last year.
It has described muted deposit growth, outstanding flat compared to the previous quarter while rising 17% YoY. Current Account and Savings Account (CASA) Deposits observed a decline of 8%, QoQ, but there was a 3% increase on a YoY basis. The CASA ratio is down 330 bps, QoQ and 720 bps, YoY. The collection efficiency continued stable at 98% compared to the previous quarter.

Jefferies has shown a buy recommendation for Bandhan Bank, with a target price of Rs 340 per share. The Q1 loan growth qualified to 7%, and CASA declined by 3% YoY.
The collection fell somewhat to 98% compared to 99% in March 2023. However, it continued higher than the level observed in June 2022.
The recent floods in Assam are anticipated to impact Bandhan Bank partially. The loans in Assam account for about 1% of the bank’s loan portfolio or 3 bps of the total.

At 9:20 am, Bandhan Bank was trading at Rs 226.15, down Rs 5.10, or 2.21% on the BSE.