Bandhan Bank's shares jump over 12% as key overhangs get resolved

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Bandhan Bank's shares jump over 12% as key overhangs get resolved - Business Standard

Quick Summary:

Additionally, on the same day, the bank announced that as per the audit, NCGTC will pay Rs 314.68 crore more to the bank, in addition to the Rs 916 crore it had paid in the first tranche last year.

According to Axis Finance, Sengupta’s experience during his tenure at the State Bank of India (SBI) Kolkata circle will prove beneficial for Bandhan Bank.

Separately, the bank had also recovered Rs 228 crore from the written-off accounts, which were part of this claim, and it will get to keep this recovered amount in addition to the claim pay-out from NCGTC.