India's Bandhan Bank shines after CLSA keeps 'outperform', citing better asset quality

Shares of India's Bandhan Bank BANH.NS rise 3.1% to 180.3 rupees apiece

CLSA says among microfinance lenders, BANH has outperformed larger rival IndusInd Bank INBK.NS as well as smaller peers on asset quality in the March quarter

Brokerage reiterates high-conviction "outperform" rating on BANH

Says BANH's annualised gross slippage ratio of 10% was significantly below Creditaccess Grameen CRDE.NS, Fusion Finance FUSN.NS and INBK

Sees only marginal pain for BANH in terms of asset quality going forward, compared with peers

CLSA reiterates "underperform" on CRDE and FUSN; CRDE shares down 0.8%, FUSN shares up 0.5%

BANH shares up 10% in 2025 so far, mirroring the 12% rise in private bank index .NIFPVTBNK