Singapore's Caladium ups stake at Bandhan Bank by 1% via market purchases

It now holds 72 million shares in the lender

Caladium Investment PTE Ltd, backed by Singapore’s sovereign wealth fund GIC, has raised stake in Bandhan Bank by 1.1 per cent to 4.49 per cent.

Caladium Investment PTE Ltd now holds 72 million shares in the Kolkata-based Bandhan Bank. It raised its stake through secondary market operations during the January-March period.

Bandhan Bank had reported a 120.85 per cent year-on-year (YoY) rise in net profit at Rs 731 crore for the December quarter compared with Rs 331 crore in the same quarter last year.

However, in the last few days, the microfinance operations of the bank have been impacted due to Covid-19. The bank resumed disbursements on a small scale since yesterday, said a top official of the bank.

Bandhan Bank’s share fell by 9.56 per cent at Rs 195.45.