ICICI Securities: Bandhan Bank Q2 Review - Visibility Improving Towards Normalcy
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ICICI Securities Report
Bandhan Bank Ltd. has reported better-than-expected profit after tax of Rs 9.2 billion in Q2 FY21 (down 5% YoY, up more than 65%), buoyed by 25% YoY growth in operating profit and lower credit cost.
Contingency buffer build up continued (another Rs 3 billion, taking cumulative buffer to 2.8% of asset under management) – a move towards guided credit cost range of 3.5% over the next few quarters.
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