Results seem decent to me – https://www.bseindia.com/xml-data/corpfiling/AttachLive/6c61defb-43e8-41d2-adad-73645ae139a5.pdf.
They have taken higher provisions (at least partly to boost their PCR, it seems like) which has impacted profitability. But other than the increasing cost of deposits (which every bank is struggling with), most of the other metrics seem quite fine. They have maintained NIMs, strong growth in fee income, good growth in advances, CASA hasn’t gone down (not much anyway), and an unexpected slight improvement to their cost-to-income ratio for some reason.
The stock’s not done much and it’s been on a downtrend of late. But I like these results. Not fantastic, but in the current environment, it seems quite good. Not sure if I am missing something. Any additional thoughts would be welcome!
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