Bandhan Bank - West Bengal Election Outcome Uncertainty Addressed; Overhang Subsides: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .ICICI Securities Report.Bandhan Bank Ltd. has underperformed Bank Nifty by 20-25% over past three months/six months/ 12 months. State-specific events in its dominating geographies of West Bengal and Assam led to deviation from its track record of better resilience than peers. There was disappointment in collection efficiency (sub-90% in January 2021), credit cost (more than 5.5% annualised run-rate in Q3 FY21) and proforma gross non-performing assets (spiked to 7.12%). Besides Q3 FY21 performance, uncertainty around election outcome in its dominating state has also weighed on stock performance. However, All-India Trinamool Congress has won the West Bengal state election, thereby suggesting status quo in state administration. This will subside the major overhang of election outcome on stock performance..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint. .Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Bandhan Bank - West Bengal Election Outcome Uncertainty Addressed; Overhang Subsides: ICICI Securities

Bandhan Bank - West Bengal Election Outcome Uncertainty Addressed; Overhang Subsides: ICICI Securities

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