At Bandhan Bank, asset quality issues play spoilsport in Q1
SummaryThe bank’s management expects recoveries to improve from Q2 onwards and that could aid its asset quality outlook. But a meaningful revival in recoveries may not happen in a hurry.
Bandhan Bank Ltd disappointed investors with its muted June quarter (Q1FY24) earnings performance. A particular sore point being a sequential jump in gross non-performing assets (NPAs) to 6.8% in Q1FY24 from 4.9% in the previous quarter.