Agree. The Bank seems to be doing exceedingly well on all parameters guided for FY24-25 at the time of merger, EXCEPT the Cost-to-Income, on which they seem to be clearly faltering. The C/I of 55% seems not achievable by FY25 by any stretch of imagination, and some calculations would indicate that reaching even 65% by FY24-25 is difficult. Therefore, while RoE has picked up smartly to the 10.7% level presently, the move up from here to 15% is going to be a slow one, unless they fix the C/I with a greater sense of urgency.
Disclosure: Invested, through exposue in IDFC Limited.
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