Another bank that one may consider is Karur Vysya Bank. Its an old generation private sector bank ( mainly focussed on MSMEs ) that faced a lot of asset quality and growth related issues in the last 10 yrs.
The bank is now turning a corner. The gross slippages in the last 3 Qtrs have been less than 0.5 pc of the loan book… which is a very good sign. NPA clean up is happening at a rapid pace. Even the loan growth is picking up. The management is guiding for 15 pc loan book growth going forward. Plus the Bank trading at extremely cheap valuations.
If the Bank the sustain the performance of last 3 Qtrs over the next 1-2 Yrs, a lot of upside can get unlocked here.
Disc : invested from Rs 69 levels. Biased.
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