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Buy CSB Bank; target of Rs 270: ICICI Direct

ICICI Direct is bullish on CSB Bank has recommended buy rating on the stock with a target price of Rs 270 in its research report dated May 09, 2022.

May 12, 2022 / 04:06 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 ~47% of total business. Changed strategy in various aspects of lending has led to transformation and improved performance in the past few years. Gold, SME key lending segments comprising 39%, 15%, respectively, of book • Liability franchise is healthy with loyal customer base of ~21 lakh.


We retain our BUY rating on the stock. We value CSB Bank at ~1.4x FY24E ABV with a revised target price of Rs 270 vs. Rs 320 earlier.

For all recommendations report, click here


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first published: May 12, 2022 04:06 pm
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