Bandhan Bank Ltd.

•

bandhan.bank.inBSE: 541153NSE: BANDHANBNK

Market Cap₹ 27,599 Cr.

Current Price

High / Low₹ 221 / 134

Stock P/E20.4

Book Value₹ 160

Price to Book0.90

Dividend Yield0.88 %

ROCE6.4 %

ROE4.9 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Retail Banking: 75.2% • Treasury: 12.8% • Corporate / Wholesale Banking: 12.0%

AI Sector View

AI GENERATED

Financial Services

Buy

Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.

Confidence

84%

View full sector analysis →

PROS

Comfortable capital adequacy - CAR of 18.0%
Latest quarter profit grew 1248.7% YoY, showing strong momentum
Strong provisioning - provision coverage ratio of 85.9%
Healthy net interest margin of 5.3%
Institutional investors have been accumulating - FII+DII up 5.2pp
Company generates healthy free cash flow

CONS

A large part of profit comes from other income (157.7% of PBT)
Promoter holding has decreased over last 2 years: -2.4pp
Company has delivered a poor profit growth of -11.1% over past five years
Operating margins have contracted to 27.0% from 44.6%
Company's return on assets is weak at 0.6%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Financial ServicesBankBank - Private

Part ofNIFTY PVT BANK NIFTY TOTAL MKT BSE Enhanced Value Index NIFTY SMLCAP 50 NIFTY 500

S.No.	Name
1.	HDFCBANK	687.25	13.41	1059339.46	2.26	203826.90	1092.64	905753.30	936.66	12.81	35.64
2.	ICICIBANK	1390.10	17.79	997793.42	0.86	16209.74	12.62	52240.85	6.44	16.51	32.39
3.	KOTAKBANK	414.40	20.31	412230.87	0.16	5487.06	23.89	18354.57	6.41	12.05	19.05
4.	AXISBANK	1239.50	13.89	385909.17	0.08	7656.51	22.31	35541.96	9.87	11.04	63.88
5.	IDBI	81.63	9.42	87771.86	0.00	2130.57	5.27	7549.28	7.44	14.76	76.80
6.	FEDERALBNK	344.85	18.21	85260.58	0.35	1297.61	37.06	7861.58	9.94	10.98	66.11
7.	AUBANK	1061.00	43.70	79680.01	0.09	7959.53	1270.31	53027.42	1111.10	14.17	56.24
8.	INDUSINDBK	1002.00	59.04	78069.88	0.15	1037.02	71.68	11309.94	-7.78	4.97	55.07
9.	IDFCFIRSTB	86.00	32.17	74146.70	0.29	1147.82	153.12	11051.09	14.61	5.42	38.45
10.	YESBANK	22.43	18.65	70403.95	0.00	1071.81	32.53	8054.49	5.92	8.04	58.47
11.	RBLBANK	416.80	71.90	64643.15	0.24	2342.30	993.41	38402.40	1015.97	6.49	40.95
12.	BANDHANBNK	171.30	20.39	27598.95	0.88	501.67	34.87	5630.55	2.83	6.36	49.40

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	4,523	4,492	4,665	5,189	5,536	5,500	5,479	5,434	5,476	5,354	5,431	5,428	5,631
Interest Expended	2,032	2,049	2,140	2,330	2,549	2,566	2,664	2,678	2,718	2,765	2,743	2,633	2,710
Net Interest Income	2,491	2,443	2,525	2,860	2,987	2,934	2,814	2,756	2,757	2,589	2,688	2,796	2,921
	385	540	545	701	546	609	1,112	700	726	546	691	771	604
Total Income	0	0	0	0	0	0	0	0	0	5,900	6,122	6,199	6,234
Operating Expenses	1,313	1,400	1,415	1,722	1,592	1,688	1,905	1,884	1,815	1,825	1,934	2,125	2,166
Operating Profit	1,562	1,583	1,655	1,838	1,941	1,855	2,021	1,571	1,668	1,310	1,445	1,441	1,358
Provisions & Contingencies	602	636	684	1,774	523	606	1,376	1,260	1,147	1,153	1,155	677	683
Profit before Tax	960	947	971	64	1,418	1,249	645	311	521	158	290	764	676
Tax %	24.91%	23.87%	24.56%	14.86%	25.00%	24.94%	33.91%	-2.16%	28.67%	29.10%	29.20%	30.10%	25.74%
Net Profit	721	721	733	55	1,063	937	426	318	372	112	206	534	502
EPS	4	4	5	0	7	6	3	2	2	0	0	0	0

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	0	0	0	0	0	0	0	18,870	21,948	21,689	—
Interest Expended	1,505	1,770	2,148	4,562	4,961	5,157	6,645	8,551	10,458	10,859	1,08,510
Net Interest Income	-1,505	-1,770	-2,148	-4,562	-4,961	-5,157	-6,645	10,319	11,491	10,830	—
	411	706	1,063	1,549	2,022	2,822	2,469	2,171	2,967	2,734	26,120
Total Income	0	0	0	0	0	0	0	21,041	24,915	24,423	2,44,560
	0	0	0	0	0	0	0	5,851	7,068	7,699	—
Operating Profit	-1,505	-1,770	-2,148	-4,562	-4,961	-5,157	-6,645	6,639	7,389	5,865	—
	82	45	722	1,383	3,749	6,699	5,226	3,697	3,765	4,131	—
Profit before Tax	1,704	2,056	3,013	4,053	2,949	129	2,893	2,943	3,623	1,734	18,878
Tax %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	24.24%	24.23%	29.43%	28.32%
Net Profit	1,112	1,346	1,952	3,024	2,205	126	2,195	2,230	2,745	1,224	13,533
EPS	10	0	16	19	14	1	14	14	17	8	—

COMPOUNDED SALES GROWTH

10 Years:: 30%
5 Years:: 12%
3 Years:: 11%

COMPOUNDED PROFIT GROWTH

10 Years:: 16%
5 Years:: -11%
3 Years:: -18%

STOCK PRICE CAGR

10 Years:: —
5 Years:: -9%
3 Years:: -11%
1 Year:: 4%

RETURN ON EQUITY

10 Years:: 14%
5 Years:: 8%
3 Years:: 9%
Last Year:: 5%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	1,095	1,193	1,193	1,610	1,611	1,611	1,611	1,611	1,611	1,611
	3,351	8,189	10,009	13,585	15,798	15,765	17,961	19,954	22,748	23,645
	23,229	33,869	43,232	57,082	77,972	96,331	1,08,065	1,35,202	1,51,212	1,66,344
	1,029	285	521	16,379	16,960	19,921	24,711	16,372	11,138	14,303
Other Liabilities & Provisions	1,532	774	1,487	3,062	2,675	5,362	3,677	4,659	4,520	4,902
Total Liabilities	30,236	44,310	56,442	91,718	1,15,016	1,38,995	1,56,037	18	1,91,476	2,11,124
ASSETS	-	-	-	-	-	-	-	-	-	-
	6,012	2,837	3,879	6,345	3,335	4,943	7,327	15,393	7,477	13,127
Balances with Banks & Money at Call	1,353	2,674	1,924	2,008	2,893	4,379	923	778	2,092	824
	5,516	8,372	10,037	15,352	25,155	29,079	32,366	29,288	40,712	38,668
	16,839	29,713	39,643	66,630	81,613	93,975	1,04,757	1,21,137	1,31,987	1,50,104
	252	238	222	347	432	415	509	959	855	931
	264	476	627	1,014	1,533	6,032	9,810	10,073	8,027	6,999
Total Assets	30,236	44,310	56,442	91,718	1,15,016	1,38,995	1,56,037	18	1,91,476	2,11,124

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	8,885	-2,599	2,695	6,583	-909	902	-4,245	14,808	2,752	1,143
Cash from Investing	-2,671	-2,237	-2,373	-5,312	-1,804	-612	-1,618	1,691	-3,879	317
Cash from Financing	-2,023	2,846	105	154	588	2,803	4,791	-8,579	-5,475	2,923
	4,192	-1,989	427	1,426	-2,125	3,093	-1,071	7,921	-6,601	4,382

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE
EPS (₹)	10.15	11.28	16.36	18.78	13.69	0.78	13.62	13.84	17.04	7.60
Book Value (₹)	40.60	78.65	93.89	94.37	108.09	107.87	121.50	133.87	151.21	156.78
Dividend per Share (₹)	0.00	1.00	3.00	0.00	1.00	0.00	1.50	1.50	1.50	1.50
PROFITABILITY
Net Interest Margin %	0.00%	0.00%	0.00%	7.00%	6.69%	6.58%	0.00%	6.19%	6.30%	5.34%
ROA %	4.45%	3.61%	3.87%	4.08%	2.13%	0.10%	1.49%	1.34%	1.49%	0.61%
ROE %	28.58%	19.46%	18.96%	22.91%	13.53%	0.72%	11.88%	10.84%	11.96%	4.93%
	0.00%	0.00%	0.00%	30.82%	29.39%	30.54%	0.00%	46.84%	48.89%	56.76%
ASSET QUALITY
Gross NPA %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.71%	3.27%
Net NPA %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.28%	0.97%
Provision Coverage %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	86.50%	84.90%
Slippage Ratio %	—	—	—	—	—	—	—	—	—	—
BALANCE SHEET & LIQUIDITY
CASA %	0.00%	0.00%	0.00%	36.84%	43.38%	41.61%	0.00%	37.09%	31.37%	29.31%
Credit-Deposit Ratio %	0.00%	0.00%	0.00%	0.29%	0.22%	0.21%	0.00%	0.12%	0.07%	0.09%
	0.00%	0.00%	0.00%	27.43%	23.47%	20.10%	0.00%	18.28%	18.71%	18.04%
GROWTH & VALUATION
Net Profit Growth %	303.98%	21.01%	45.03%	54.94%	-27.06%	-94.30%	1644.63%	1.59%	23.13%	-55.43%
Book Value Growth %	0.00%	0.00%	0.00%	0.51%	0.00%	-0.20%	0.00%	10.17%	12.95%	3.68%
P/E (x)	0.00x	0.00x	0.00x	10.85x	24.74x	393.60x	0.00x	13.01x	8.58x	18.60x
P/B (x)	0.00x	0.00x	0.00x	2.16x	3.13x	2.85x	0.00x	1.35x	0.97x	0.90x
	0.00%	0.00%	0.00%	0.00%	0.30%	0.00%	0.00%	0.83%	1.03%	1.06%

Shareholding Pattern

Numbers in percentages

Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
39.98	39.98	39.98	39.98	40.92	40.29	39.74	38.98	37.54
28.25	26.73	23.23	22.73	24.34	23.44	22.32	22.07	18.64
15.06	16.33	15.41	16.36	16.52	17.82	18.75	22.33	27.47
0.07	0.07	0.07	0.07	0.07	0.07	0.07	0.07	0.07
16.64	16.89	21.32	20.85	18.15	18.40	19.12	16.55	16.27

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-10

General Updates

2026-09-10 - Bandhan Bank Limited has informed the Exchange about Schedule of Analysts / Institutional Investors Meets to be held on September 17, 2026 and September 21, 2026.

2026-09-09

ESOP/ESOS/ESPS

2026-09-09 - Bandhan Bank Limited has informed the Exchange regarding Allotment of Equity Shares of the Bank pursuant to exercise of Options under Bandhan Bank Employee Stock Option Plan Series 1.

2026-09-08

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-08 - Bandhan Bank Limited has informed the Exchange about Schedule of Analysts / Institutional Investors Meet to be held on September 11, 2026 and the Presentation to be made thereat.

2026-09-08

News Verification

2026-09-08 - The Exchange has sought clarification from Bandhan Bank Limited with respect to recent news item captioned Bandhan Bank shares rise up to 4% as lender unveils four new credit cards. The response from the Company is attached.

2026-09-08

News Verification

2026-09-07

General Updates

2026-09-07 - Bandhan Bank Limited has informed the Exchange about ESG Rating.

2026-09-05

ESOP/ESOS/ESPS

2026-09-05 - Bandhan Bank Limited has informed the Exchange regarding Grant of Equity Stock Options.

2026-09-05

Outcome of Board Meeting

2026-09-05 - Bandhan Bank Limited has informed the Exchange regarding Outcome of Board Meeting held on September 05, 2026.

2026-09-01

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-01 - Bandhan Bank Limited has informed the Exchange about Update on Analysts / Institutional Investors Meet held on September 01, 2026.

News

Recent coverage and analyst commentary for BANDHANBNK

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Free 5nance Account

Name

HDFCBANK

687.25

13.41

1059339.46

2.26

203826.90

1092.64

905753.30

936.66

12.81

35.64

ICICIBANK

1390.10

17.79

997793.42

0.86

16209.74

12.62

52240.85

6.44

16.51

32.39

KOTAKBANK

414.40

20.31

412230.87

0.16

5487.06

23.89

18354.57

6.41

12.05

19.05

AXISBANK

1239.50

13.89

385909.17

0.08

7656.51

22.31

35541.96

9.87

11.04

63.88

IDBI

81.63

9.42

87771.86

0.00

2130.57

5.27

7549.28

7.44

14.76

76.80

FEDERALBNK

344.85

18.21

85260.58

0.35

1297.61

37.06

7861.58

9.94

10.98

66.11

AUBANK

1061.00

43.70

79680.01

0.09

7959.53

1270.31

53027.42

1111.10

14.17

56.24

INDUSINDBK

1002.00

59.04

78069.88

0.15

1037.02

71.68

11309.94

-7.78

4.97

55.07

IDFCFIRSTB

86.00

32.17

74146.70

0.29

1147.82

153.12

11051.09

14.61

5.42

38.45

YESBANK

22.43

18.65

70403.95

0.00

1071.81

32.53

8054.49

5.92

8.04

58.47

RBLBANK

416.80

71.90

64643.15

0.24

2342.30

993.41

38402.40

1015.97

6.49

40.95

BANDHANBNK

171.30

20.39

27598.95

0.88

501.67

34.87

5630.55

2.83

6.36

49.40

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

4,523

4,492

4,665

5,189

5,536

5,500

5,479

5,434

5,476

5,354

5,431

5,428

5,631

Interest Expended

2,032

2,049

2,140

2,330

2,549

2,566

2,664

2,678

2,718

2,765

2,743

2,633

2,710

Net Interest Income

2,491

2,443

2,525

2,860

2,987

2,934

2,814

2,756

2,757

2,589

2,688

2,796

2,921

385

540

545

701

546

609

1,112

700

726

546

691

771

604

Total Income

5,900

6,122

6,199

6,234

Operating Expenses

1,313

1,400

1,415

1,722

1,592

1,688

1,905

1,884

1,815

1,825

1,934

2,125

2,166

Operating Profit

1,562

1,583

1,655

1,838

1,941

1,855

2,021

1,571

1,668

1,310

1,445

1,441

1,358

Provisions & Contingencies

602

636

684

1,774

523

606

1,376

1,260

1,147

1,153

1,155

677

683

Profit before Tax

960

947

971

1,418

1,249

645

311

521

158

290

764

676

Tax %

24.91%

23.87%

24.56%

14.86%

25.00%

24.94%

33.91%

-2.16%

28.67%

29.10%

29.20%

30.10%

25.74%

Net Profit

721

733

1,063

937

426

318

372

112

206

534

502

EPS

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

18,870

21,948

21,689

—

Interest Expended

1,505

1,770

2,148

4,562

4,961

5,157

6,645

8,551

10,458

10,859

1,08,510

Net Interest Income

-1,505

-1,770

-2,148

-4,562

-4,961

-5,157

-6,645

10,319

11,491

10,830

—

411

706

1,063

1,549

2,022

2,822

2,469

2,171

2,967

2,734

26,120

Total Income

21,041

24,915

24,423

2,44,560

5,851

7,068

7,699

—

Operating Profit

-1,505

-1,770

-2,148

-4,562

-4,961

-5,157

-6,645

6,639

7,389

5,865

—

722

1,383

3,749

6,699

5,226

3,697

3,765

4,131

—

Profit before Tax

1,704

2,056

3,013

4,053

2,949

129

2,893

2,943

3,623

1,734

18,878

Tax %

0.00%

24.24%

24.23%

29.43%

28.32%

Net Profit

1,112

1,346

1,952

3,024

2,205

126

2,195

2,230

2,745

1,224

13,533

EPS

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

LIABILITIES

Equity Capital

1,095

1,193

1,610

1,611

3,351

8,189

10,009

13,585

15,798

15,765

17,961

19,954

22,748

23,645

23,229

33,869

43,232

57,082

77,972

96,331

1,08,065

1,35,202

1,51,212

1,66,344

1,029

285

521

16,379

16,960

19,921

24,711

16,372

11,138

14,303

Other Liabilities & Provisions

1,532

774

1,487

3,062

2,675

5,362

3,677

4,659

4,520

4,902

Total Liabilities

30,236

44,310

56,442

91,718

1,15,016

1,38,995

1,56,037

1,91,476

2,11,124

ASSETS

6,012

2,837

3,879

6,345

3,335

4,943

7,327

15,393

7,477

13,127

Balances with Banks & Money at Call

1,353

2,674

1,924

2,008

2,893

4,379

923

778

2,092

824

5,516

8,372

10,037

15,352

25,155

29,079

32,366

29,288

40,712

38,668

16,839

29,713

39,643

66,630

81,613

93,975

1,04,757

1,21,137

1,31,987

1,50,104

252

238

222

347

432

415

509

959

855

931

264

476

627

1,014

1,533

6,032

9,810

10,073

8,027

6,999

Total Assets

30,236

44,310

56,442

91,718

1,15,016

1,38,995

1,56,037

1,91,476

2,11,124

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

8,885

-2,599

2,695

6,583

-909

902

-4,245

14,808

2,752

1,143

Cash from Investing

-2,671

-2,237

-2,373

-5,312

-1,804

-612

-1,618

1,691

-3,879

317

Cash from Financing

-2,023

2,846

105

154

588

2,803

4,791

-8,579

-5,475

2,923

4,192

-1,989

427

1,426

-2,125

3,093

-1,071

7,921

-6,601

4,382

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

PER SHARE

EPS (₹)

10.15

11.28

16.36

18.78

13.69

0.78

13.62

13.84

17.04

7.60

Book Value (₹)

40.60

78.65

93.89

94.37

108.09

107.87

121.50

133.87

151.21

156.78

Dividend per Share (₹)

0.00

1.00

3.00

0.00

1.00

0.00

1.50

PROFITABILITY

Net Interest Margin %

0.00%

7.00%

6.69%

6.58%

0.00%

6.19%

6.30%

5.34%

ROA %

4.45%

3.61%

3.87%

4.08%

2.13%

0.10%

1.49%

1.34%

1.49%

0.61%

ROE %

28.58%

19.46%

18.96%

22.91%

13.53%

0.72%

11.88%

10.84%

11.96%

4.93%

0.00%

30.82%

29.39%

30.54%

0.00%

46.84%

48.89%

56.76%

ASSET QUALITY

Gross NPA %

0.00%

4.71%

3.27%

Net NPA %

0.00%

1.28%

0.97%

Provision Coverage %

0.00%

86.50%

84.90%

Slippage Ratio %

—

BALANCE SHEET & LIQUIDITY

CASA %

0.00%

36.84%

43.38%

41.61%

0.00%

37.09%

31.37%

29.31%

Credit-Deposit Ratio %

0.00%

0.29%

0.22%

0.21%

0.00%

0.12%

0.07%

0.09%

0.00%

27.43%

23.47%

20.10%

0.00%

18.28%

18.71%

18.04%

GROWTH & VALUATION

Net Profit Growth %

303.98%

21.01%

45.03%

54.94%

-27.06%

-94.30%

1644.63%

1.59%

23.13%

-55.43%

Book Value Growth %

0.00%

0.51%

0.00%

-0.20%

0.00%

10.17%

12.95%

3.68%

P/E (x)

0.00x

10.85x

24.74x

393.60x

0.00x

13.01x

8.58x

18.60x

P/B (x)

0.00x

2.16x

3.13x

2.85x

0.00x

1.35x

0.97x

0.90x

0.00%

0.30%

0.00%

0.83%

1.03%

1.06%

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

39.98

40.92

40.29

39.74

38.98

37.54

28.25

26.73

23.23

22.73

24.34

23.44

22.32

22.07

18.64

15.06

16.33

15.41

16.36

16.52

17.82

18.75

22.33

27.47

0.07

16.64

16.89

21.32

20.85

18.15

18.40

19.12

16.55

16.27

Bandhan Bank Ltd.

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Bandhan Bank Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI