Shares of Bandhan Bank surged 6.45% to ₹190.18 in early trade today, touching an intraday high of ₹190.49 — just a whisker below its 52-week high of ₹192.48. The stock opened at ₹186.01 against a previous close of ₹178.65, with massive volumes of 38.59 lakh shares and a decisive buy skew of 67% versus 33% sell. The market is sending a clear message: after years of being punished for asset quality stress, Bandhan Bank’s Q4 FY26 results show the worst is genuinely behind it.
The numbers that matter
PAT for Q4 FY26 came in at ₹530 crore (₹5.3 billion) — up a staggering 159.2% QoQ and 68% YoY. This is not a minor improvement; it is a step-change in profitability. NII grew 4% QoQ to ₹2,800 crore, total revenue was ₹3,570 crore (up 5.5% QoQ), and gross advances grew 12.6% YoY and 6.2% QoQ to ₹1,54,230 crore.
The credit quality turnaround is real
GNPA ratio improved to 3.3% — down 144 basis points YoY and 6 basis points QoQ. NNPA fell to 1.0%, down 32 basis points YoY. Credit cost collapsed to 2.0%, down 195 basis points YoY and 130 basis points QoQ — the single most important line in the entire results pack for a bank that has battled elevated provisioning for years. Provision Coverage Ratio strengthened to 71.1%.
The structural story is improving too
Secured book now stands at 56.2% of total advances — up 571 basis points YoY — as the bank continues its deliberate pivot away from unsecured microfinance. The non-East book has grown to 62% of advances, reducing geographic concentration risk. Retail deposits grew 17.7% YoY to ₹1,22,550 crore, while CASA ratio improved 204 basis points QoQ to 29.3%.
At ₹190, the stock is still 52% above its 52-week low of ₹134.25 — a recovery that is now finding fundamental support.