I believe Repco’s numbers for ROE, Loan Book Growth and NPAs are very close if not as good as Gruh. (If you want, I’ll share the numbers as well) So it, doesn’t justify the 2x difference in P/B.
Agree on banks focusing on the HFCs segments in the future, and a comfortable P/B of 7/8 for Gruh.
Don’t agree on borrowers getting impatient for lower rates. Half the book is self-employed segment where they don’t have much bargaining power due to lack of other alternatives apart from Gruh, Repco, etc.
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