ICICI Direct's research report on Axis Bank
Axis Bank is the third largest private sector bank in India with a balance sheet size of Rs 11.7 lakh crore as on March 2022. The bank has a large footprint across India with 4758 branches • Retail and SME comprise ~68% of total loans.
We retain our BUY rating on the stock. We value Axis Bank at ~2.3x FY24E ABV and maintain our target price at Rs 970.
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