Elevated MFI stress persists
Credit costs remain high at 3.9% due to continued stress in microfinance; management expects H1 FY26 to be challenging.
BANDHANBNK / Q4-FY25 / risks
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Bandhan Bank · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
high
NIM compression from secured mix shift
As secured book grows, yields are expected to moderate; CFO guided NIMs could decline 50-60bps over 3 years.
Regional concentration in West Bengal
West Bengal accounts for 23% of advances and 40% of deposits; localized disruptions (e.g., Murshidabad) could impact collections.
Recent vintages show higher NPAs
Analyst noted that loans disbursed in FY24 have NPA rates of 3.5-4%, raising concerns about underwriting quality.