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ICICI Direct Report
Bandhan Bank Ltd. posted weak results on the operating front with elevated provisioning hurting profitability.
Asset quality performance and developments in key states like Assam and West Bengal would call for a cautious approach in the near term.
Collection efficiency (including write-off) saw improvement from 92% to 95% QoQ in the micro banking segment.
Key state of Bengal saw collections rise from 90% to 95% QoQ but in Assam collection efficiency dipped from 88% to 83%.
As per management commentary, collections in April 2021 declined approximately 3-4% from the March level.
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