Bandhan Bank Ltd’s stock price reaction to its September quarter (Q2FY25) business update has been muted. Sure, business growth is impressive, but the Street might be worried about the smooth management transition.
Ratan Kumar Kesh, the interim CEO who took charge from Chandra Shekhar Ghosh in July, has got merely a month’s extension. Thus, any future announcement regarding a longer term for Kesh would be keenly watched as he has been with the bank for almost two years.
The bank’s advances, including off-book pass-through certificates, grew 21% year-on-year to ₹1.3 trillion in Q2. Bandhan has rarely faltered in lending growth even though asset quality challenges remain. Deposit growth was 27% year-on-year to ₹1.4 trillion. With loan deposit ratio (LDR) at 92%, there is no pressure on the bank to shore up deposits or reduce assets.
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