Bandhan Bank shares drops 2% on strong June quarter business update

The price of Bandhan Bank shares fell by 2% on Thursday during intraday trading. The Bandhan Bank share price rose to ₹214.60 on the NSE after opening at ₹210.25, which was a bit less than the previous close of ₹211.13. This was due to an increase in the benchmark indices. The share price fell to ₹206.16, nearly 2% lower, due to a sequential fall in deposits during the June 2024 quarter.

Despite being up 22.8% year over year, Bandhan Bank’s total deposits fell 1.5% sequentially to ₹133,203 crore, according to quarterly updates reported on the exchanges for the 1QFY25 Pre results. Bandhan Bank’s CASA deposits in June 2024 were ₹44,453 crore, down 11.4% sequentially but up 13.8% year-on-year.

While bulk deposits at ₹41,099 crore though up 13.6% year over year, they were down 0.7% sequentially. Bandhan Banks Retail Deposits (including CASA), at ₹92,104, though up 19.2% year over year, but down 1.8% sequentially.

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