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Bandhan Bank

BANDHANBNK NSE
₹157.86 +1.06 (+0.68%)
P/E
18.79
View as Markdown
MCP
Close 4 Nov 2026 ₹157.86 +4.93 +3.22% 1Y
Start ₹152.93

Key Fundamentals

SmallcapBanksFinancial Services

Price-based figures as of · EPS basis: Standalone · TTM

EPS (TTM)
₹8.40
Book Value
₹162.25
Market Cap
—
P/E (TTM)
18.79
P/B
0.97
ROE
4.88%
Dividend Yield
0.96%
52W High
₹220.76
52W Low
₹134.25
Day Range
₹154.70 – ₹158.44
Volume
69,49,154
ROCE
Not meaningful for a lender: the ratio describes an industrial company’s balance sheet
Debt to Equity
Not meaningful for a lender: the ratio describes an industrial company’s balance sheet
EBITDA
Not meaningful for a lender: the ratio describes an industrial company’s balance sheet

Peer Comparison

Financial Services › Banks › Private Bank › Private Sector Bank

Bandhan Bank peer comparison
HDFC Bank
₹736.7014.16₹11,37,598 Cr1.882.48%13.60%—₹3,59,956 Cr₹83,685 Cr
ICICI Bank
₹1,424.1017.28₹10,25,874 Cr2.670.84%15.90%—₹2,06,190 Cr₹62,827 Cr
Kotak Bank
₹459.4021.29₹4,58,686 Cr2.350.14%11.40%—₹73,545 Cr₹21,472 Cr
Axis Bank
₹1,232.0012.79₹3,83,779 Cr1.670.08%13.10%—₹1,41,510 Cr₹30,038 Cr
IDBI Bank
₹79.2910.26₹83,815 Cr1.322.70%14.10%—₹30,953 Cr₹8,329 Cr
Federal Bank
₹335.2015.94₹81,875 Cr2.010.36%11.60%—₹31,552 Cr₹5,387 Cr
Indusind Bank
₹865.1550.98₹66,694 Cr1.000.18%1.36%—₹45,297 Cr₹1,322 Cr
Bandhan Bank (this company)
₹157.8618.79₹25,355 Cr0.970.96%4.88%—₹21,844 Cr₹1,354 Cr
Median 8 companies₹598.0516.61₹2,33,797 Cr1.780.60%12.35%—₹59,421 Cr₹14,901 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

34 Poor

Data confidence 100/100

Category scores

Quality
35
Poor
Returns, margins, earnings quality 22% weight
Valuation
38
Weak
Cheap vs sector & own history 24% weight
Growth
23
Poor
Sales & profit trajectory 9% weight
Financial Health
21
Poor
Solvency, leverage, coverage 9% weight
Momentum
14
Poor
Trend strength, vol-adjusted 12% weight
Ownership
48
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Stock is trading at 1.06 times its book value
  • Company's working capital requirements have reduced from 71.8 days to 38.5 days

Weaknesses

6
  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -1.44%
  • The company has delivered a poor sales growth of 11.6% over past five years.
  • Company has a low return on equity of 9.01% over last 3 years.
  • Contingent liabilities of Rs.28,896 Cr.
  • Dividend payout has been low at 13.1% of profits over last 3 years

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish973
OscillatorsNeutral171
Moving AveragesStrong Bearish802

Key readings

RSI (14)
45.34
Neutral
MACD (12,26,9)
−4.11
Bullish
SMA (50)
167.83
Bearish
SMA (200)
177.25
Bearish

As of

Analyst Rating

Based on 25 analysts
BUY52%

13 of 25 analysts rate Buy, 8 Hold, 4 Sell.

As of

BUY
13
52%
HOLD
8
32%
SELL
4
16%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+29.94%
5Y+11.61%
3Y+10.89%
1Y−1.18%
TTM−0.21%

Net profit

Net profit growth by window
10Y+16.10%
5Y−11.11%
3Y−17.69%
1Y−55.41%
TTM−34.05%

Operating cash flow

Not meaningful

A bank's or NBFC's operating cash flow moves with deposits and loans, so its growth says little about the business.

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹3,909 Cr
Mar 2018₹4,802 Cr
Mar 2019₹6,643 Cr
Mar 2020₹10,885 Cr
Mar 2021₹12,524 Cr
Mar 2022₹13,871 Cr
Mar 2023₹15,905 Cr
Mar 2024₹18,870 Cr
Mar 2025₹21,948 Cr
Mar 2026₹21,689 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹1,112 Cr
Mar 2018₹1,346 Cr
Mar 2019₹1,952 Cr
Mar 2020₹3,024 Cr
Mar 2021₹2,205 Cr
Mar 2022₹126 Cr
Mar 2023₹2,195 Cr
Mar 2024₹2,230 Cr
Mar 2025₹2,745 Cr
Mar 2026₹1,224 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EPS
₹3.98 +3.1% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 28 Oct 2026
AI opinion · based on fundamentals
Risk high

Bandhan Bank Ltd trades at ₹155.36 as of 2026-10-28 with a market cap of ₹25,031 Cr, a P/B of 0.99x, and a trailing PE of 18.5x. The bank's ROE has declined to 4.78% from a 10-year average of 12%, while TTM profit has contracted 34% and the stock sits 29.6% below its 52-week high of ₹220.76.

Bull Case 5
  • 10-year compounded sales CAGR of 30% demonstrates the bank's historical ability to scale its franchise rapidly from its microfinance origins
  • Working capital days have improved significantly from 71.8 days to 38.5 days, indicating better operational efficiency and faster cash conversion
  • Trailing PE of 18.5x on an EPS of ₹8.40 is reasonable relative to mid-cap banking peers, suggesting the stock is not pricing in aggressive growth expectations
  • 3-year compounded sales CAGR of 11% shows the bank continues to grow its topline despite asset quality headwinds
  • Dividend yield of 0.99% provides a modest income component, which is relatively uncommon among high-growth small and mid-cap banks
Bear Case 8
  • ROE has deteriorated sharply to 4.78% (last year 5%) from a 10-year average of 12%, well below the cost of equity for a bank of this risk profile
  • TTM compounded profit has declined 34%, and the 3-year profit CAGR is -18%, signalling sustained earnings erosion rather than a one-off event
  • Contingent liabilities stand at ₹28,896 Cr — more than 1.15x the bank's current market cap of ₹25,031 Cr — posing a material off-balance-sheet risk
  • Low interest coverage ratio indicates the bank's earnings may be insufficient to comfortably service its obligations, a critical concern for a lending institution
  • Promoter holding has decreased by 1.44% in the last quarter, which can signal reduced insider confidence or regulatory-driven dilution
  • 5-year stock CAGR of -13% means long-term shareholders have experienced significant capital destruction over a half-decade period
  • Dividend payout ratio of just 13.1% over the last 3 years limits shareholder returns and suggests the bank is retaining capital to shore up its balance sheet rather than rewarding investors
  • 5-year compounded sales growth of only 12% (and reported at 11.6%) is modest for a bank that was expected to be a high-growth franchise, indicating competitive and structural challenges

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Bandhan Bank delivered a strong Q2FY27 with profit surging 5.6x YoY to ₹622 crore on sharply improved asset quality (GNPA down to 3.11% from 5.02%) and diversifying loan mix. Key risks include sequential margin compression, falling CASA ratio, a spike in QoQ provisions, and the looming RBI-mandated promoter stake dilution to 26% by 2030. The trend is improving on profitability and asset quality, but NIM pressure and deposit quality warrant monitoring as the bank navigates its transition from microfinance-heavy to a diversified universal bank.

Headwinds 5
  • NIM contracts, CASA mix drops Oct 29

    Net interest margin contracted 9bps QoQ to 6.1% in Q2FY27, while CASA ratio fell 270bps QoQ to 26.7%, signaling deposit quality pressure.

  • Loan loss provisions spike QoQ Oct 27

    Loan loss provisions surged 90% QoQ to ₹1,153 crore in Q2FY27 from ₹683 crore in Q1FY27, despite being flat YoY.

  • Promoter stake dilution deadline Oct 9

    Bandhan Financial Holdings must reduce its 37.5% stake to 26% by 2030 per RBI norms, having already missed a prior deadline and paid a ₹1 crore penalty.

Positives 6
  • Q2 profit surges 5.6x YoY Oct 27

    Q2FY27 PAT jumped 5.6x YoY to ₹622 crore, beating estimates of ₹540 crore and marking the best profit in eight quarters.

  • Asset quality improves sharply Oct 27

    GNPA ratio improved to 3.11% from 5.02% YoY and NNPA fell to 0.92% from 1.4%, with EEB collection efficiency at 99.3%.

  • Advances grow 13% YoY Oct 27

    Gross advances rose 13% YoY to ₹1.58 lakh crore with secured advances up 18% YoY, now comprising 57% of total advances versus 55% a year ago.

Neutral 2
  • Abu Dhabi acquisition talks denied Oct 27

    Bandhan Bank filed clarifications with BSE and NSE categorically denying acquisition discussions with First Abu Dhabi Bank, calling the reports factually incorrect.

  • Holding company restructuring underway Oct 9

    Bandhan Financial Services has appointed Jefferies for its first major restructuring in 25 years, aimed at providing exits to long-time investors GIC (16.7%) and IFC (13.59%).

Quarterly Results

₹ Cr
BANDHANBNK quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
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
Expenses
1,916
2,036
2,099
3,496
2,115
2,294
3,281
3,144
2,962
2,977
3,089
2,802
2,849
Financing Profit
575
407
426
−637
890
640
−466
−388
−204
−389
−401
−7
72
Fin. Margin %
13%
9%
9%
−12%
16%
12%
−9%
−7%
−4%
−7%
−7%
0%
1%
Other Income
385
540
545
701
528
609
1,112
700
726
546
691
771
604
Interest
2,032
2,049
2,140
2,330
2,531
2,566
2,664
2,678
2,718
2,765
2,743
2,633
2,710
Depreciation
0
0
0
0
0
0
0
0
0
0
0
0
0
PBT
960
947
971
64
1,418
1,249
645
311
521
158
290
764
676
Tax %
25%
24%
25%
15%
25%
25%
34%
−2%
29%
29%
29%
30%
26%
Net Profit
721
721
733
55
1,063
937
426
318
372
112
206
534
502
EPS (₹)
4.48
4.48
4.55
0.34
6.6
5.82
2.65
1.97
2.31
0.69
1.28
3.32
3.11
Gross NPA %
6.76%
7.32%
7.02%
3.84%
4.23%
4.68%
4.68%
4.71%
4.96%
5.02%
3.33%
3.27%
3.15%
Net NPA %
2.18%
2.32%
2.21%
1.11%
1.15%
1.29%
1.28%
1.28%
1.36%
1.37%
0.99%
0.97%
0.93%

Profit & Loss

₹ Cr
BANDHANBNK profit and loss, annual, ₹ crore
Particulars Mar 2015 4mMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
0
1,581
3,909
4,802
6,643
10,885
12,524
13,871
15,905
18,870
21,948
21,689
21,844
Expenses
6
633
1,044
1,597
2,467
3,739
6,534
11,298
8,693
9,310
10,555
11,526
11,717
Financing Profit
−6
299
1,360
1,436
2,028
2,584
1,029
−2,584
567
1,009
936
−696
−724
Fin. Margin %
—
19%
35%
30%
31%
24%
8%
−19%
4%
5%
4%
−3%
−3%
Other Income
8
150
411
706
1,063
1,549
2,022
2,823
2,469
2,171
2,967
2,734
2,612
Interest
0
649
1,505
1,770
2,148
4,562
4,961
5,157
6,645
8,551
10,458
10,859
10,851
Depreciation
0
36
67
86
78
80
103
110
143
238
279
304
0
PBT
2
414
1,704
2,056
3,013
4,053
2,949
129
2,893
2,943
3,623
1,734
1,888
Tax %
75%
33%
35%
35%
35%
25%
25%
2%
24%
24%
24%
29%
—
Net Profit
1
275
1,112
1,346
1,952
3,024
2,205
126
2,195
2,230
2,745
1,224
1,353
EPS (₹)
0.01
2.51
10.15
11.28
16.36
18.78
13.69
0.78
13.62
13.84
17.04
7.6
8.4
Div. Payout %
0%
0%
0%
9%
18%
0%
7%
0%
11%
11%
9%
20%
—

Balance Sheet

₹ Cr
BANDHANBNK balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
501
1,095
1,095
1,193
1,193
1,610
1,611
1,611
1,611
1,611
1,611
1,611
Reserves
1
2,239
3,351
8,189
10,009
13,585
15,798
15,770
17,973
19,999
22,994
23,964
Borrowing
0
3,052
1,029
285
521
16,379
16,960
19,921
24,711
16,372
11,138
14,303
Deposits
—
12,089
23,229
33,869
43,232
57,082
77,972
96,331
1,08,065
1,35,202
1,51,212
1,66,344
Other Liabilities
25
1,282
1,532
774
1,487
3,062
2,675
5,234
3,677
4,659
4,520
4,902
Total Liabilities
527
19,756
30,236
44,310
56,442
91,718
1,15,016
1,38,867
1,56,037
1,77,842
1,91,476
2,11,124
Fixed Assets
0
237
252
238
222
347
432
415
509
959
855
931
CWIP
108
0
0
0
109
22
55
173
346
214
325
470
Investments
0
3,758
5,516
8,372
10,037
15,352
25,155
29,079
32,366
29,288
40,712
38,668
Other Assets
418
15,761
24,468
35,700
46,073
75,997
89,374
1,09,200
1,22,817
1,47,381
1,49,584
1,71,054
Total Assets
527
19,756
30,236
44,310
56,442
91,718
1,15,016
1,38,867
1,56,037
1,77,842
1,91,476
2,11,124

Cash Flow

₹ Cr
BANDHANBNK cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
—
—
8,885
−2,599
2,695
6,583
−909
902
−4,245
14,808
2,752
1,143
Investing
—
—
−2,671
−2,237
−2,373
−4,187
−1,804
−612
−1,618
1,691
−3,879
317
Financing
—
—
−2,023
2,846
105
154
588
2,803
4,791
−8,579
−5,475
2,923
Net Cash Flow
—
—
4,192
−1,989
427
2,550
−2,125
3,093
−1,071
7,921
−6,601
4,382
Free Cash Flow
—
—
8,803
−2,671
2,524
6,481
−1,129
691
−4,654
14,252
2,466
616
CFO/OP
—
—
330
−56
91
108
3
62
−49
167
29
18

Ratios

BANDHANBNK financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %
0%
14%
29%
19%
19%
23%
14%
1%
12%
11%
12%
5%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Bandhan Bank insights

81 extracted metrics across FY15–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 37.00%
  • DIIs 29.27%
  • FIIs 17.16%
  • Public 13.03%
  • Others 3.48%
  • Government 0.07%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Bandhan Bank

What does Bandhan Bank Ltd do?
Incorporated in 2014, Bandhan Bank is a commercial bank focused on serving underbanked and underpenetrated markets in India. The company has a PAN-India presence and offers a wide range of banking products & services and asset & liability products and services designed for micro banking and…
Where is Bandhan Bank Ltd (BANDHANBNK) listed?
Bandhan Bank Ltd trades as BANDHANBNK on the NSE and under code 541153 on the BSE.
Which sector does Bandhan Bank Ltd belong to?
Bandhan Bank Ltd is classified under the Banks sector, in the Private Bank industry.
What is the PE ratio of Bandhan Bank Ltd?
Bandhan Bank Ltd trades at a PE ratio of 18.79 as of 4 Nov 2026, on earnings per share of ₹8.4, against a book value of ₹162.25 per share.
What is the 52-week high and low of Bandhan Bank Ltd?
Over the last 52 weeks Bandhan Bank Ltd has traded between ₹134.25 and ₹220.76 as of 4 Nov 2026.
Does Bandhan Bank Ltd pay dividends?
Bandhan Bank Ltd has a dividend yield of 0.96%.
What is the Return on Equity (ROE) of Bandhan Bank Ltd?
Bandhan Bank Ltd reported a return on equity of 4.88%.

Company Information

Incorporated in 2014, Bandhan Bank is a commercial bank focused on serving underbanked and underpenetrated markets in India. The company has a PAN-India presence and offers a wide range of banking products & services and asset & liability products and services designed for micro banking and general banking.

Website bandhanbank.com
CEO Mr. Partha Pratim Sengupta
Employees 74,500
Listed 27 Mar 2018
Face Value ₹10

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