Shares of Bandhan Bank closed at a 52-week low on Friday before recovering slightly from the day’s lows.
The stock is down nearly 40% from a 52-week high hit earlier this year. It hit a new 52-week high of Rs 349.50 on May 17 this year.

Bandhan Bank reported a net profit of Rs 209 crore in the September quarter after reporting a net loss of more than Rs 3,000 crore a year earlier. However, Bandhan Bank’s net profit fell 76% compared to the June quarter.

Bandhan Bank’s Emerging Entrepreneur Business (EEB) stress pool fell sequentially from Rs 12,100 crore to Rs 9,500 crore, with the bank expecting a major written down in FY23.

In September 2020, EEB was launched as a vertical arm of Bandhan Bank to cater to the needs of the unbanked and underbanked customers. Vertically support the entrepreneurial journey of this part of customers. These small loans are considered a risky asset class for banks.

Bandhan Bank shares closed 1.7% at Rs 217.95, down 14% this year. The stock has underperformed most of its peers in the Nifty Bank index. Shares are down 27% over the past 12 months.