pandemic Government bill

Bandhan Bank shows rise in stress as Assam, pandemic scar loan book

Reading now: 280
www.livemint.com

Bandhan Bank showed the scars of a change in state rules and a challenging pandemic. Repayments from small borrowers floundered and stress on the balance sheet surged.Bandhan Bank’s provisions trebled from the year ago period because the lender had to set aside ₹1000 crore specifically for pandemic-related stress in the December quarter.

Additional stress on both asset quality and loan growth emanated from Assam where the government passed a new bill. With its operating profit being set aside almost entirely towards provisioning, the bank’s net profit dropped 13.5% from the year ago period.

Read more on livemint.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA