Dolat Capital's research report on Axis Bank
Axis bank reported a steady performance with a PAT growth of 131% YoY, aided by NIM expansion, recoveries and improved C/I. The new management laid out a strategy to focus on the banking basics; 1) focus on risk adjusted returns, 2) improving efficiency through scale and utilization, 3) opportunity to% improve market share and 4) Reduce credit costs. While we await more granular targets and strategies, we remain comfortable with the new MD's conservative background.
Outlook
This coupled with likely uptick in investment cycle in H2FY19, plateauing slippages and credit costs is expected improve our conservative RoE to 12.4%. Maintain Accumulate.
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Read More First Published on Feb 4, 2019 01:24 pm
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