For this quarter, the bank's provisions and contingencies
increased to Rs 1,774.3 crore, up from Rs 734.8 crore in the corresponding
quarter of the previous year.
Chandra Shekhar Ghosh, the managing director and CEO of the
bank, clarified that the write-off pertained to an old portfolio from the years
2019-20, 2020-21, and partly 2021-22.
In the recent quarter, the bank's net interest income (NII) -
which is the difference between the interest earned and the interest paid
out—reached Rs 2,866 crore. This is an increase from Rs 2,472 crore in the same
quarter of the previous financial year.
The bank's net revenue reached Rs 3,560 crore in Q4FY24, up
from Rs 3,101 crore in Q4FY23.
Last month, it was announced that Chandra Sekhar Ghosh will
retire on July 9 after nearly ten years of leadership. Ghosh plans to take on a
strategic role in the holding company.
In the fiscal year 2024, the bank's net revenue increased to
Rs 12,490 crore from Rs 11,728 crore in FY23. The profit after tax rose to Rs
2,229 crore, slightly up from Rs 2,195 crore in the previous year.
Regarding the audit of claims under the Credit Guarantee Fund
for Micro Units (CGFMU), Ghosh mentioned that the process is underway and is
expected to be finished soon.
Technical Analysis:
On 12th February 2024 Bandhan Bank share has broken the support level of 210 together with 20 EMA as well. It also has given a breakdown from the RSI 40 level on the same date. 210 level was a confluence point, After the break down from that level the stock has entered into the bearish territory and reached the low of 170 level. As per daily and weekly chart the range is between 210 and 170, either side breakout will move accordingly. Investors should wait and watch these two levels on both sides and take decisions as per next movement.
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