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Reduce RBL Bank; target of Rs 148: HDFC Securities

HDFC Securities recommended reduce rating on RBL Bank with a target price of Rs 148 in its research report dated July 30, 2020.

August 03, 2020 / 04:19 PM IST
 
 
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HDFC Securities' research report on RBL Bank


Significant treasury gains and strong NIMs buoyed RBK’s 1Q earnings. While QoQ deposit growth was healthy, deposit granularity remains an area of concern. Moratorium trends in the credit card and micro-credit portfolios, where LGDs are high, are concerning. These segments could contribute disproportionately to slippages and LLPs. Provisions are likely to remain elevated in the near term, denting return ratios.


Outlook


This underpins our REDUCE rating. Our price target of Rs 148 remains unchanged.


For all recommendations report, click here

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first published: Aug 3, 2020 12:02 pm
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