Confectioner's son amazing!  Bandhan Bank became 8th largest bank in 5 months

Confectioner’s son amazing! Bandhan Bank became 8th largest bank in 5 months

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If you have the courage to do something in your heart, then no power in the world can stop you from being successful. One such story is of Chandrashekhar Ghosh. Chandrashekhar Ghosh and his company Bandhan This journey is very interesting. Let us tell you that within 5 months of its listing in the stock market, the share of Bandhan Bank has climbed 87 percent. Its IPO came at Rs 375. Due to this boom, the market capitalization of Bandhan Bank has reached close to that of Yes Bank, which has a loan book of 6 times and total income four and a half times more.

Became the eighth largest bank of the country- Due to the rise in the share price, Bandhan Bank has been included in the 10 most expensive banks in the country on the basis of price to book value ratio. The market cap of Bandhan Bank was Rs 83,787 crore on last Friday. It became the 8th largest bank in the country. Yes Bank is the seventh largest bank in the country with a market cap of Rs 90,628 crore. The share of Bandhan Bank is trading at a price to book value of 8.9. This figure is 2.5-5.1 for the top 10 list of private sector banks, while it is 0.9-1.4 for public sector banks. HDFC Bank, the country’s largest bank in terms of market cap, is trading at a price to book value of 5.1. (Also read- SBI’s special account for travellers, makes trip planning easy)

Experts are advising to invest money- The income of Bandhan Bank was Rs 5,508 crore in FY2018 and its total loan book was Rs 32,339 crore. On each of these parameters, it is the smallest bank included in the sample. 5 out of 6 analysts have given buy rating to the bank, while one has asked to hold it. Brokerage firm JM Financial Institutional Securities wrote in a recent report, “We expect Bandhan profits to remain bullish for a long time. There are many opportunities for this in the rural market. Its return ratio is excellent. Therefore, investors can get good returns from the bank for a long time.

After SBI, Jio made a big deal with this bank, this service will be available for free

This is how it started-Born in 1960 in Agartala, Tripura, Ghosh’s father ran a small sweet shop. In this, his family of nine members could hardly survive. Ghosh saw financial crisis since childhood. He grew up working in this shop, but never gave up his studies. Ghosh holds a master’s degree in statistics from Dhaka University, Bangladesh. His family is originally from Bangladesh and at the time of independence, he came to Tripura as a refugee. After completing his studies in Dhaka, he also started his first job there. (Also read- Cash will not be deposited in ATM after 9 pm from next year)

Leaving the job and started his own company –Seeing the poor condition of women in the society, Ghosh formed a microfinance company to give loans to women. But leaving the job at that time and opening his own company was not an easy task. Knowing that his mother, wife and children would face difficulties if he left the job, he left the job. Chandrashekhar Ghosh started his company by borrowing Rs 2 lakh from his brother-in-law and some people. Although people close to him at that time explained to him that he should not leave the job, but Ghosh had faith in himself and on this belief he started a voluntary organization named Bandhan.

Tags: banking reforms, banking services, Banks support, Interest rate of banks

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