BNP Paribas Arbitrage purchases Bandhan Bank shares worth Rs 187 crore

24 Jul 2023 , 12:14 PM

In an open market transaction on Friday, BNP Paribas Arbitrage purchased 88.85 lakh shares of private lender Bandhan Bank for Rs 187 crore.

According to the National Stock Exchange’s (NSE) bulk deal statistics, BNP Paribas Arbitrage purchased 88,85,979 shares or 0.5% of the private lender.

The average cost per share for the shares was Rs 211, making the total transaction amount Rs 187.49 crore. The sellers’ identities could not be determined.

On the NSE, Bandhan Bank shares increased 3.05% to settle at Rs 218.10 a share.

Due to a reduction in net interest income, Bandhan Bank stated last week that its net profit for the June quarter fell by 18.7% to Rs 721 crore.

In the same period last year, the private sector lender with headquarters in Kolkata reported a net profit of Rs 887 crore.

The bank’s interest income jumped to Rs 4,523 crore from Rs 4,055 crore in the June quarter a year ago, bringing the total income during the reviewed quarter to Rs 4,908 crore from Rs 4,385 crore in FY2023.

In comparison to the same quarter a year prior, its net interest income decreased to Rs 2,491 crore from Rs 2,514 crore.

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