PPoP in line; asset quality improves

25 Apr 2024
5 Min read 
  • AU Small Finance Bank had a mixed quarter due to merger charges.
  •  Margins were affected by rising cost of funds, but disbursement growth was strong.
  •  Asset quality improved, leading to lower provisioning expenses.
  •  EPS for FY25E/FY26E raised by 4-5% with expected operating improvement.
  •  Reiterate BUY with a TP of INR735 based on 2.7x FY26E BV.
  •  Data includes financial figures for different fiscal years with positive and negative values.
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