💨 Abstract

Bandhan Bank reported a 42% decline in its net profit for Q3 of the current financial year, at Rs 426 crore, compared to Rs 733 crore in the previous year. The drop was due to a change in accounting procedure, additional provision for bad loans, and ESOP accounting. The bank plans to focus more on liability products, digital banking, and being more secular in approach due to challenges in the microfinance sector.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖