Purchase Karur Vysya financial institution; target of Rs 288: anand Rathi


anand Rathi's studies report on Karur Vysya bank


decent running performance blended with slight provisions saved Karur Vysya financial institution's profitability sturdy, with 1.seventy four% RoA (up 2bps q/q).


universal asset quality and PCR improved, with GNPA at 0.8% (down 27bps q/q) and NNPA at zero.2% (down 8bps q/q). Key positives were: 1) decline in slippages (at zero.7% of loans), 2) lowest pressure pipeline amongst friends (SMA 30+ pool at 39bps), three) sturdy credit growth in center retail (22% y/y) and SME (20% y/y) segments, 4) NIM persisting above 4% and five) a strong stability sheet. With credit increase likely in mid-young adults and modest credit score fees, earnings are expected to be robust.


Outlook


We keep our purchase rating, with a 12-mth TP of Rs288, 1.5x P/ABV at the FY27e book.


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Karur Vysya financial institution - 21012025 -anand

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KVB

Kokila Chokkanathan

21/01/2025 02:47 PM