Buy Karnataka Bank; target of Rs 60: Anand Rathi

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26 Aug, 2025 12:21

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Anand Rathi 's research report on Karnataka Bank

Higher margins and lower opex led to sharp, ~21% y/y, PPOP growth for Karnataka Bank. The standstill on NPA recognition led to asset quality and PCR improving.

Outlook

With earnings expected to pick up in FY22 and limited downside from current levels, we maintain a Buy, at a TP of Rs60 valuing it at 0.3x P/ABV on its FY22e book.

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