Buy Ujjivan Small Finance Bank, target price Rs 30: ICICI Securities
The bank shows strong growth momentum, projecting over 25% AUM growth and over 22% RoE for FY24. The bank’s stressed asset pool is reducing, with GNPA and the restructured book falling to 3.2% in Q4FY23 from 8% in Q1FY23, while SMA pool has been further cut to 1.2% in Mar’23.
