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Informist, Monday, Apr. 20, 2026

 

By Nandini Sinha

 

MUMBAI – Bandhan Bank Ltd.'s net profit for the March quarter is expected to rise on year after falling for three consecutive quarters, according to brokerages tracking the lender. The rise in the bank's bottom line is mainly due to growth in the loan book.

 

Bandhan Bank is expected to post a 25% on-year rise in its net profit for Jan-Mar at INR 3.99 billion, according to the average of estimates from 10 brokerages. Sequentially, the bank's bottom line is expected to rise over 22%. Bandhan Bank will announce its earnings for the quarter on Apr. 28. 

The highest estimate for the bank's net profit is INR 5.17 billion by Kotak Securities Ltd., while the lowest is INR 2.49 billion by JM Financial Institutional Securities Pvt. Ltd.

 

Bandhan Bank's net interest income for the March quarter is expected to be INR 28.11 billion, up nearly 2% on year, according to the average of estimates. Sequentially, the net interest income is expected to rise nearly 5%.

 

The highest estimate for the bank's net interest income is INR 28.80 billion by Nuvama Wealth Management Ltd., while the lowest estimate is INR 27.30 billion by Equirus Securities Pvt. Ltd.

 

The Kolkata-based lender's advances grew nearly 13% on year to INR 1.54 trillion as of Mar. 31, according to provisional figures released by the bank. Its deposits were up 10% on year at INR 1.66 trillion.

 

"The bank has reported a loan growth…mostly led by non EEB (emerging entrepreneurs business) portfolio," according to Kotak Securities. Bandhan Bank reported a collection efficiency of 99.3% in the non-emerging entrepreneurs business segment as of Mar. 31, according to provisional figures released by the bank.

 

Bandhan Bank's net interest margin is expected to rise sequentially but fall on year, according to brokerages. ICICI Securities and Nuvama expect the net interest margin to rise up to 20 basis points sequentially. They expect the margin to fall up to 69 bps on year.

 

"Margins are likely to expand on improving yields and moderating CoF (cost of funds) as CASA (current account savings account) to show sequential improvement," Equirus Securities said in a pre-earnings report. Bandhan Bank's current account savings account ratio improved to 29.31% as of Mar. 31 from 27.26% as of Dec. 31. However, the ratio contracted from 31.37% on Mar. 31, 2025, according to the provisional figures.

Bandhan Bank's provisions in the March quarter are expected to have declined over 19% on year to INR 10.17 billion, according to the average of estimates from seven brokerages.

 

Bandhan Bank's shares have risen over 17% since its December quarter earnings were announced. On Monday, shares of the bank closed slightly higher at INR 175.43 apiece on the National Stock Exchange.

 

Of the nine brokerage reports on the company available with Informist, five have a 'buy' rating on the stock with an average target price of INR 178 per share, over 1% higher than the current market price. Two brokerages have a 'hold' recommendation with an average target price of INR 162 per share. Two brokerages have a 'sell' rating on the stock with an average target price of INR 132 per share.

 

Following are the March quarter earnings estimates for Bandhan Bank from 10 brokerages in descending order of the estimate of net profit in INR billion:

 

BROKERAGE NAME	NET INTEREST INCOME	NET PROFIT
Kotak Securities Ltd.	27.97	5.17
Emkay Global Financial Services Ltd.	27.73	4.82
Elara Securities (India) Pvt. Ltd.	28.20	4.60
Anand Rathi Share and Stock Brokers Ltd.	27.83	4.29
Motilal Oswal Financial Services Ltd.	28.56	4.06
Nuvama Wealth Management Ltd.	28.80	4.00
ICICI Securities Ltd.	28.67	3.76
Nomura Equity Research	28.00	3.40
Equirus Securities Pvt. Ltd.	27.30	3.27
JM Financial Institutional Securities Pvt. Ltd.	28.00	2.49
Average	28.11	3.99

 

End

 

Edited by Avishek Dutta

 

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