Bandhan Bank Limited — Q3 FY24
Bandhan Bank reported a strong Q3 FY24 with PAT surging 152% YoY to INR 733 crore, driven by robust loan growth and stable asset quality.
bullish
medium
Financial stats pending filing verification
Claim Ledger
Did management answer the analysts?
Every material analyst question, graded on whether management actually answered it — with the verbatim exchange and quantitative claims checked against filed numbers.
73%Questions answered2Evaded / deflected11Questions audited
Partial answer
High priority
Is the CGFMU audit a forensic audit or a normal detailed audit?
Asked by Mahrukh Adajania, Nuvama
Management initially avoids labeling, then concedes it's forensic but adds a caveat about who can conduct it.
contradictory statementsdefers to NCGTC claim
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Question
But is this a forensic audit like some media articles say, or just a normal detailed financial audit?
Chandra Shekhar Ghosh, Founder, MD and CEO
We will say it is a forensic audit. Having said that, we have our views as to who is allowed to conduct a forensic audit.
Answered
High priority
Where will EEB slippage settle and what is the EEB slippage this quarter?
Asked by Mahrukh Adajania, Nuvama
Management provides specific slippage numbers and explains the trend.
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Question
But where do we see it settling, right, because the slippages? First of all, what would be the EEB slippage?
Chandra Shekhar Ghosh, Founder, MD and CEO
The slippage of EEB in this quarter, it's INR 993 crore out of INR 1,390 crore. And I also mentioned... 45% of this amount of the slippage of EEB has slipped in the month of October.
Answered
Medium priority
Can OPEX-to-asset ratio come down after CBS migration?
Asked by Yuvraj Choudhary, Anand Rathi
Management gives a clear range and recent quarterly figures.
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Question
Sir, now with the CBS migration done, so could we expect some OPEX levels to come down? Is there any target too we have on OPEX-to-asset ratio?
Chandra Shekhar Ghosh, Founder, MD and CEO
The OPEX-to-asset ratio, we are predicted on that at the 3.5%-3.7%. So if we see that in the Q1, it was 3.5%. Q2 has come 3.7%. Again, the Q3 has come to the 3.6%.
Partial answer
High priority
Will NIM remain stable or improve in near term?
Asked by Yuvraj Choudhary, Anand Rathi
Management gives a wide range and defers detailed guidance to a future strategy meeting.
deferred to future meetingvague guidance
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Question
So could we see NIM at the same level in the near term, or could we see some improvement in NIM?
Chandra Shekhar Ghosh, Founder, MD and CEO
I say that this quarter, 7-7.5, we can be like to do. And in March, we have that strategic meeting. We can analyze further on that.
Partial answer
Low priority
What is the AUM and collection efficiency in Punjab?
Asked by Yuvraj Choudhary, Anand Rathi
Management provides the AUM but does not address collection efficiency as asked.
only gave AUM, not collection efficiency
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Question
Sir, some color on a portfolio in Punjab would be helpful. What would be our AUM there, collection efficiency, if you can throw some color on that?
Chandra Shekhar Ghosh, Founder, MD and CEO
INR 714 crore on that entire book. Out of a total book of INR 58,000-odd crore, INR 714 crore is the Punjab portfolio.
Answered
High priority
How did system migration affect slippage and why rest of India worse?
Asked by Mohit Jain, Tara Capital Partners
Management explains the three factors clearly and addresses the regional disparity.
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Question
Sir, I just wanted to understand on this slippage part because of the system migration... how did it exactly affect the slippage?
Chandra Shekhar Ghosh, Founder, MD and CEO
On 3rd October, we migrated to the new system... that day we declared as a holiday... first few days, people got used to the new tab... October, you had the festive...
Answered
High priority
What is the current secured/unsecured mix and how to reach 50/50?
Asked by Ritika Dua, Bandhan AMC
Management provides the exact current mix and outlines strategy to reach 50/50.
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Question
So, firstly, we shared that going forward, the share of secured to unsecured would be 50/50. If you don't mind, what is the number today?
Chandra Shekhar Ghosh, Founder, MD and CEO; Shantanu Sengupta, Executive President and Head of Retail Banking
Today's number is in secured is 44.5. And the 55.5 is in unsecured.
Answered
High priority
What is the normal run rate for zero-plus overdue book additions?
Asked by Saurabh Kumar, JPMorgan
Management gives a clear range for expected run rate.
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Question
I just want to know, is this your normal run rate because this book went up also by INR 230 crore in Q2 and about INR 1,100 crore in Q1?
Chandra Shekhar Ghosh, Founder, MD and CEO
At least INR 300 crore-INR 500 crore of addition from zero to the DPD is what we are expecting even for one or two quarters.
Evasive
Medium priority
What is driving IBPC purchases in housing finance?
Asked by Manish Shukla, Axis Capital
Management does not explain why IBPC purchases are nearly equal to fresh disbursements.
no specific reason givenvague
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Question
On housing finance, slide number 13, just curious, what is driving the IBPC purchases?
Chandra Shekhar Ghosh, Founder, MD and CEO
The IBPC purchase, this is a good opportunity also to earn some revenue from this portfolio. And this is, of course, a good tool.
Evasive
High priority
Would margins have declined without liquidity improvement?
Asked by Prabal Gandhi, Ambit
Management does not confirm or deny the assumption, instead talks about balancing factors.
no direct yes/novague balancing explanation
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Question
The credit-to-deposit ratio improved 300 basis points sequentially. Still, margins were stable. So had it not been for the liquidity, is it fair to assume that margins would have declined?
Chandra Shekhar Ghosh, Founder, MD and CEO
When it will like to go to the increase that decrease the CD ratio, cost will increase. But we see that the two other things... will be like to balance gradually.
Answered
Medium priority
What is the LCR for the quarter?
Asked by Jai Mundhra, ICICI Securities
Management provides a specific number.
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Question
Sir, how much is the LCR for the quarter ended, liquidity coverage ratio for the bank?
Chandra Shekhar Ghosh, Founder, MD and CEO
142%.
Answered
High priority
What is the cost of term deposits raised during the quarter?
Asked by Kunal Shah, Citigroup
Management provides specific cost figures for overall TD and bulk deposits.
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Question
So just wanted to check in terms of what will be the cost of term deposits that we raise during the quarter?
Chandra Shekhar Ghosh, Founder, MD and CEO
Overall TD cost has increased to about 7.4%... the bulk rates have hit a higher number... slightly higher than 8%.