Mumbai: Bandhan Bank will reduce its promoter holding to the mandated level of 40% through the offer-for-sale (OFS) route and is not looking at any more acquisitions at the moment, said managing director and CEO Chandra Shekhar Ghosh. This acquisition is set to reduce promoter holding of Bandhan Financial Holdings Ltd in the bank to 61% from 82% at present. According to RBI’s new bank licensing guidelines, the bank’s promoter, Bandhan Financial Holdings Ltd, had to reduce its stake from 82% to 40% within three years of commencing the business. The deadline for Bandhan Bank was on 23 August, 2018. The bank’s net interest income (NII) – the difference between interest earned and expended – stood at ₹1,258 crore, up 46% y-o-y.

Source: Mint May 02, 2019 10:52 UTC