IndusInd Bank vs Bandhan Bank: Which Stock Should You Track
- August 6, 2026
- Posted by: Ankit Jaiswal
- Category: News
IndusInd Bank MCap Rs 79,549 Cr, PE 60.17x, ROE 2.03%, PB 1.22. Bandhan Bank MCap Rs 27,953 Cr, PE 20.65x, ROE 5.36%, PB 1.11.
IndusInd Bank vs Bandhan Bank is a comparison mid-size private bank investors look up when evaluating two banks navigating periods of earnings stress. IndusInd Bank is navigating the aftermath of accounting irregularities discovered in its derivatives portfolio in 2025, while Bandhan Bank has been recovering from elevated microfinance NPAs. Both are trading at compressed valuations relative to their pre-stress levels.
This IndusInd Bank vs Bandhan Bank article covers reach and market position, key products, latest declared results and stock valuation. The IndusInd Bank vs Bandhan Bank data below is sourced from Groww and public company filings and reflects the most recently available information at the time of writing.
IndusInd Bank vs Bandhan Bank: Reach and Market Position
On the IndusInd Bank side of the IndusInd Bank vs Bandhan Bank comparison, IndusInd Bank operates over 2,700 branches across India, serving retail, commercial vehicle, microfinance and corporate banking clients. Market capitalisation is Rs 79,549 Cr.
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On the Bandhan Bank side of the IndusInd Bank vs Bandhan Bank comparison, Bandhan Bank operates over 6,200 banking outlets primarily in East and Northeast India, with a microfinance-origin retail banking franchise and a growing liability base. Market capitalisation is Rs 27,953 Cr.
IndusInd Bank vs Bandhan Bank: Key Products and Business Mix
In the IndusInd Bank vs Bandhan Bank product comparison, IndusInd Bank offers: IndusInd Bank offers vehicle loans, microfinance, personal loans, corporate credit and SME banking. P/E is 60.17x on very thin trailing earnings due to accounting restatements. ROE is 2.03 percent. EPS is Rs 16.97.
For Bandhan Bank in this IndusInd Bank vs Bandhan Bank breakdown: Bandhan Bank offers microfinance, retail home loans, SME loans and savings deposits with a deep rural and semi-urban franchise. P/E is 20.65x, ROE 5.36 percent. EPS is Rs 8.40. Dividend yield is 0.86 percent.
IndusInd Bank vs Bandhan Bank: Latest Results
The IndusInd Bank vs Bandhan Bank results for IndusInd Bank: IndusInd Bank has a market cap of Rs 79,549 Cr and P/E of 60.17x, reflecting thin current earnings from accounting-related provisions. ROE is 2.03 percent. Book value per share is Rs 838.10 and P/B is 1.22.
The IndusInd Bank vs Bandhan Bank results for Bandhan Bank: Bandhan Bank has a market cap of Rs 27,953 Cr and P/E of 20.65x. ROE is 5.36 percent. P/B is 1.11 at near-book levels.
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IndusInd Bank vs Bandhan Bank: Stock and Valuation
The IndusInd Bank vs Bandhan Bank stock comparison uses the latest available market data from Groww. Investors tracking IndusInd Bank vs Bandhan Bank should verify current prices on NSE or BSE before trading.
IndusInd Bank trades at a market cap of Rs 79,549 Cr with a very high P/E of 60.17x reflecting thin current earnings from its accounting restatement. Bandhan Bank trades at Rs 27,953 Cr market cap and P/E of 20.65x, much cheaper, with a low but positive ROE of 5.36 percent. Both stocks are valued on expected earnings recovery.
IndusInd Bank vs Bandhan Bank: Quick Comparison Table
The IndusInd Bank vs Bandhan Bank comparison table below summarises the key metrics covered in this article side by side.
| Parameter | IndusInd Bank | Bandhan Bank |
|---|---|---|
| Sector | Mid private bank | Mid private bank: microfinance origin |
| Market Cap | Rs 79,549 Cr | Rs 27,953 Cr |
| P/E Ratio | 60.17x (on thin earnings) | 20.65x |
| ROE | 2.03% | 5.36% |
| P/B Ratio | 1.22 | 1.11 |
| Stress source | Accounting derivatives restatement (2025) | Microfinance NPA cycle |
| Key strength | Vehicle loans, commercial banking | East India franchise, microfinance depth |
Conclusion
The IndusInd Bank vs Bandhan Bank comparison above covers the key data points on reach, products, results and valuation. IndusInd Bank vs Bandhan Bank are both mid-size private banks navigating earnings stress from different sources. IndusInd is recovering from an accounting restatement event, while Bandhan is recovering from a microfinance NPA cycle. Both trade near book value. Investors should carefully review each bank’s management commentary and earnings recovery trajectory and consult a SEBI-registered advisor before investing.
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Disclaimer: Data and figures in this article are sourced from publicly available information, including company results filings and exchange data, and are current as of the time of writing. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
What is the main difference between IndusInd Bank and Bandhan Bank?
Ans. IndusInd Bank is a large private bank with vehicle loan and corporate banking exposure, currently navigating recovery from a derivatives accounting restatement. Bandhan Bank is a microfinance-origin bank with deep East India roots, recovering from elevated rural loan NPAs.
Why does IndusInd Bank have a P/E of 60x?
Ans. IndusInd Bank’s high P/E reflects very thin current earnings due to large provisions taken following the discovery of accounting irregularities in its derivatives portfolio in 2025.
Which bank trades closer to book value?
Ans. Bandhan Bank trades at 1.11 times book, while IndusInd Bank trades at 1.22 times book — both near book value.
Which company has the higher ROE?
Ans. Bandhan Bank has an ROE of 5.36 percent, higher than IndusInd Bank at 2.03 percent.
What accounting issue affected IndusInd Bank?
Ans. In 2025, IndusInd Bank disclosed accounting irregularities in its derivatives portfolio, leading to significant provisioning and a sharp drop in reported earnings.
What risks apply to these banks?
Ans. Both face risk from delays in NPA resolution, regulatory scrutiny and any further deterioration in their respective stressed asset pools.
Should I invest in IndusInd Bank or Bandhan Bank?
Ans. Both are recovery stories at near-book valuations. Review management guidance and earnings trajectory and consult a SEBI-registered advisor before making any investment decision.
