Bandhan Bank cleansed itself of IL&FS before Gruh merger2 min read . Updated: 11 Jan 2019, 06:39 AM IST
The Q3 results were good enough for investors to forgive Bandhan Bank for its IL&FS mistake, as was evident in the 3.8% rise in share price
Microlender-turned-universal bank Bandhan Bank Ltd seems to have realized its folly of venturing too far into non-microloans. Its exposure to beleaguered Infrastructure Leasing and Financial Services Ltd (IL&FS) has sucked out ₹ 385 crore from its profits in the December quarter (Q3) by way of provisions. That amounts to nearly 13% of the bank’s trailing 12-months pre-tax profit.
Login to enjoy exclusive benefits!
- Unlocked premium articles
- Personalized news
- Market Watchlist
- Insightful Newsletters & more