When the private lender started operations in August 2016, microcredit constituted 85 per cent of its total loan portfolio
The banking outlets also include doorstep banking units and home loan service centres
Shares of RBL and Bandhan Bank hit new all-time lows, falling below their respective initial public offer (IPO) prices, on the BSE on Monday after a sharp sell-off in the equity markets.
Stock trades below its listing pricing, shedding over 22 per cent year-to-date
Analysts have fundamental concerns on over-leverage in core markets of eastern India and an inability to meaningfully diversify away from microfinance and concentration risk
'MFIs need to lend responsibly. We don't do target-based lending', said Ghosh
Move follows relaxation given by RBI to expand network. Earlier, the regulator had imposed curbs on lender for not meeting promoter shareholding norms
The central bank had barred Bandhan Bank in September 2018 from expanding its network as the lender had failed to reduce promoter stake to 40 per cent
The bank has been allowed to open new branches, provided 25% of all new banking outlets opened in a financial year are in unbanked rural centres
Post inclusion, stocks under the F&O segment will now be 143, up from 140, with effect from February 28, when the March series begins
Among individual stocks, HDFC Life Insurance Company, Bandhan Bank, and Info Edge will be in focus today as they are set to be added in the Futures & Options segment effective February 28
The stock was trading lower for the third straight day, down 3% at Rs 411, its lowest level since February 5, 2019.
Even as asset quality seems stable, factors such as provision coverage ratio and loan book diversification need attention
Sequentially, net profit declined 24.79 per cent as it registered a profit of Rs 972 crore in Q2
The bank's performance, however, improved on a year-on-year basis due to low base effect. The net profit jumped 121 per cent YoY from Rs 331.26 crore logged in the same quarter last year (Q3FY19).
Becoming a bank has given us more strength, says Jana SFB MD & CEO Ajay Kanwal
Ghosh was commended for his deep knowledge of lending, having technology-focused lending operations and keeping the work force motivated
Chandra Shekhar Ghosh has turned a small microfinance NGO into a formidable private bank
The stock was trading at its lowest level since September 20, 2019.
The bank is expecting that a little less than 50% of its portfolio will be dominated by affordable housing loans in the next 3 to 5 years.