External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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Thematic (Sector/Industry)

<ul><li>For banks, Q2 is likely to be a steady quarter for banks, with strong business growth and resilient asset quality. The key concern, however, remains pressure on NIMs.</li><li>Systemic growth was robust at ~19% YoY, with growth remaining broad-based and supported by overseas lending.</li><li>Deposit growth has also accelerated with strong support from FCNR (B) mobilisation, though it is likely to weigh on NIMs due to excess liquidity and lowerspread lending. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

For banks, Q2 is likely to be a steady quarter for banks, with strong business growth and resilient asset quality. The key concern, however, remains pressure on NIMs.Systemic growth was robust at ~19% YoY, with growth remaining broad-based and supported by overseas lending.Deposit growth has also accelerated with strong support from FCNR (B) mobilisation, though it is likely to weigh on NIMs due to excess liquidity and lowerspread lending. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Banking, Financial Services & Insurance (BFSI) - ?Q2FY27E: Result Preview

<ul><li>Q2FY27E provisional updates indicate broad-based strength in credit and deposit growth across lenders, in a relatively weaker quarter.</li><li>SFBs continued to outpace the mid/larger banks, delivering robust business growth. FCNR(B) flows supported deposit mobilisation.</li><li>However, margins are likely to remain under pressure from higher CoF in Q2. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Q2FY27E provisional updates indicate broad-based strength in credit and deposit growth across lenders, in a relatively weaker quarter.SFBs continued to outpace the mid/larger banks, delivering robust business growth. FCNR(B) flows supported deposit mobilisation.However, margins are likely to remain under pressure from higher CoF in Q2. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Flash Note:Banks and NBFCs: Q2FY27E Provisional Update

Equity Bottom-Up

<ul><li>Multiple Retail Growth Engines Strengthen Credit Growth Visibility: In Q1, AUSFB’s disbursements rose a strong 42% YoY, reflecting broad momentum across retail, secured and commercial banking lines.</li><li>The bank continued to demonstrate strong credit growth of 26/3% YoY/QoQ, led by retail secured assets (+23% YoY, 67% mix) and a decisive resumption in unsecured segment growth (+11% YoY), with MFI (+15% YoY) and PL (+24% YoY) leading growth.</li><li>Within retail, the wheels segment growth remains robust (+28% YoY), driven by strong demand in the new vehicle segment and increasing traction across newer geographies. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Multiple Retail Growth Engines Strengthen Credit Growth Visibility: In Q1, AUSFB’s disbursements rose a strong 42% YoY, reflecting broad momentum across retail, secured and commercial banking lines.The bank continued to demonstrate strong credit growth of 26/3% YoY/QoQ, led by retail secured assets (+23% YoY, 67% mix) and a decisive resumption in unsecured segment growth (+11% YoY), with MFI (+15% YoY) and PL (+24% YoY) leading growth.Within retail, the wheels segment growth remains robust (+28% YoY), driven by strong demand in the new vehicle segment and increasing traction across newer geographies. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

AU Small Finance Bank Ltd - Another Robust Quarter; Execution Across Key Levers Remains Strong

<ul><li>Balanced Growth with Disciplined Risk Calibration Across Segments: AUSFB continued to demonstrate strong credit growth of 25/9% YoY/QoQ, led by retail secured assets (+21% YoY) and a decisive resumption in growth in the unsecured segment.</li><li>Within retail, the wheels segment remains robust (+27% YoY), supported by improving affordability trends, while gold loans have scaled sharply (~2x YoY) and mortgages registered a steady 11% YoY growth despite operating in an increasingly competitive landscape.</li><li>On the unsecured side, trends are stabilising, with the MFI portfolio witnessing ~8% QoQ growth and X-bucket CE normalising to 99.7% (vs 99.3% in Q3).</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Balanced Growth with Disciplined Risk Calibration Across Segments: AUSFB continued to demonstrate strong credit growth of 25/9% YoY/QoQ, led by retail secured assets (+21% YoY) and a decisive resumption in growth in the unsecured segment.Within retail, the wheels segment remains robust (+27% YoY), supported by improving affordability trends, while gold loans have scaled sharply (~2x YoY) and mortgages registered a steady 11% YoY growth despite operating in an increasingly competitive landscape.On the unsecured side, trends are stabilising, with the MFI portfolio witnessing ~8% QoQ growth and X-bucket CE normalising to 99.7% (vs 99.3% in Q3).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

AU Small Finance Bank Ltd - Stellar Quarter, Visibility on 1.8% RoA Delivery Improves

<ul><li>NIMs to Move in an Upward Trajectory: AUSFB’s NIM surprised positively, expanding by 5 bps in contrast to our expectations of margin contraction.</li><li>NIM expansion was driven by a sharp decline of 25 bps in CoF, lower slippages resulting in lower interest reversals, and utilisation of excess liquidity.</li><li>The management has guided for margin expansion to continue over the upcoming quarters, supported by continued deposit repricing, assuming no further rate cuts. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

NIMs to Move in an Upward Trajectory: AUSFB’s NIM surprised positively, expanding by 5 bps in contrast to our expectations of margin contraction.NIM expansion was driven by a sharp decline of 25 bps in CoF, lower slippages resulting in lower interest reversals, and utilisation of excess liquidity.The management has guided for margin expansion to continue over the upcoming quarters, supported by continued deposit repricing, assuming no further rate cuts. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

AU Small Finance Bank Ltd. - NIMs Surprise Positively; Asset Quality Outlook Turns Favourable!

India

AU Small Finance Bank Limited is an Indian scheduled commercial small finance bank. It offers a diverse range of products including savings accounts, current accounts, fixed deposits, loans (vehicle, MSME, housing, personal, gold, agriculture), debit and credit cards, and insurance. The company was founded in 1996 and is headquartered in Jaipur, Rajasthan, India.

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AU Small Finance Bank (AUBANK IN)

Banking, Financial Services & Insurance (BFSI) - ?Q2FY27E: Result Preview

For banks, Q2 is likely to be a steady quarter for banks, with strong business growth and resilient asset quality. The key concern, however,...

Axis Direct

Flash Note:Banks and NBFCs: Q2FY27E Provisional Update

Q2FY27E provisional updates indicate broad-based strength in credit and deposit growth across lenders, in a relatively weaker quarter.

Axis Direct

AU Small Finance Bank Ltd - Another Robust Quarter; Execution Across Key Levers Remains Strong

In Q1, AUSFB’s disbursements rose a strong 42% YoY, reflecting broad momentum across retail, secured and commercial banking lines.

Axis Direct

AU Small Finance Bank Ltd - Stellar Quarter, Visibility on 1.8% RoA Delivery Improves

AUSFB continued to demonstrate strong credit growth of 25/9% YoY/QoQ, led by retail secured assets (+21% YoY) and a decisive resumption in growth...

Axis Direct

AU Small Finance Bank Ltd. - NIMs Surprise Positively; Asset Quality Outlook Turns Favourable!

NIMs to Move in an Upward Trajectory: AUSFB’s NIM surprised positively, expanding by 5 bps in contrast to our expectations of margin contraction.

Axis Direct

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