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Buy CSB Bank; target of Rs 380: ICICI Direct

ICICI Direct is bullish on CSB Bank has recommended buy rating on the stock with a target price of Rs 380 in its research report dated October 26, 2021.

October 28, 2021 / 02:00 PM IST
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ICICI Direct's research report on CSB Bank

CSB Bank is a south based private sector bank with Kerala contributing ~50% of the total business. Changed strategy in various aspects of lending has led to transformation and improved performance in the past few years. Gold, SME are key lending segments comprising 36%, 13%, respectively, of book Liability franchise is healthy with loyal customer base of ~17 lakh


We retain our BUY rating on the stock We value CSB Bank at ~2.6x FY23E ABV and keep our target price unchanged at Rs 380.

For all recommendations report, click here

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first published: Oct 28, 2021 02:00 pm