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. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Near-term asset quality challenges persist; Stability likely from Q2FY26: AUSFB’s asset quality deterioration was primarily owing to elevated slippages mainly from the unsecured portfolio (microfinance, credit cards and PL) and the impact of seasonality in the wheels and agribusiness.</li><li>In the credit card portfolio, slippages remain elevated due to lapses in digital underwriting without adequate guards.</li><li>However, the bank has taken corrective measures by (i) Reducing credit lines, (ii) Undertaking a detailed evaluation of the existing customer base and taking appropriate pre-emptive actions on potentially delinquent customers, (iii) Blocking certain misused categories of merchants, and (iv) Strengthening daily transaction monitoring to identify and restrict misusing customers and merchants.</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.

Near-term asset quality challenges persist; Stability likely from Q2FY26: AUSFB’s asset quality deterioration was primarily owing to elevated slippages mainly from the unsecured portfolio (microfinance, credit cards and PL) and the impact of seasonality in the wheels and agribusiness.In the credit card portfolio, slippages remain elevated due to lapses in digital underwriting without adequate guards.However, the bank has taken corrective measures by (i) Reducing credit lines, (ii) Undertaking a detailed evaluation of the existing customer base and taking appropriate pre-emptive actions on potentially delinquent customers, (iii) Blocking certain misused categories of merchants, and (iv) Strengthening daily transaction monitoring to identify and restrict misusing customers and merchants.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 - Operationally Healthy, Asset Quality Deteriorates!

<ul><li>Near-term Asset Quality Challenges; Credit costs to remain elevated in H2FY25: AUSFB’s asset quality deterioration was primarily owing to elevated slippages from both the secured (~33% contribution to slippages) and unsecured portfolio.</li><li>The bank has taken multiple steps to restrict the flow of slippages by restricting lending exposure, ramping up collection efforts alongside making underwriting norms more stringent.</li><li>Despite this, the management expects stress in the unsecured portfolios to remain elevated in H2FY25, keeping credit costs higher. </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.

Near-term Asset Quality Challenges; Credit costs to remain elevated in H2FY25: AUSFB’s asset quality deterioration was primarily owing to elevated slippages from both the secured (~33% contribution to slippages) and unsecured portfolio.The bank has taken multiple steps to restrict the flow of slippages by restricting lending exposure, ramping up collection efforts alongside making underwriting norms more stringent.Despite this, the management expects stress in the unsecured portfolios to remain elevated in H2FY25, keeping credit costs higher. 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. - Operationally Strong Quarter, Asset Quality Pain to Hurt in Near-Term!

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>AU Small Finance Bank (AUBANK) is well-positioned for strong growth, demonstrating a steady improvement in operating profitability as it capitalizes on the synergies resulting from the merger.</li><li>A high-yielding loan book following the merger and broader product offerings, especially in the South, will facilitate profitable growth in the coming years.</li><li>The bank’s recent application for a Universal Bank license is expected to streamline regulatory requirements, improve brand positioning, and foster growth by enhancing customer acquisition and deposit productivity.</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.

AU Small Finance Bank (AUBANK) is well-positioned for strong growth, demonstrating a steady improvement in operating profitability as it capitalizes on the synergies resulting from the merger.A high-yielding loan book following the merger and broader product offerings, especially in the South, will facilitate profitable growth in the coming years.The bank’s recent application for a Universal Bank license is expected to streamline regulatory requirements, improve brand positioning, and foster growth by enhancing customer acquisition and deposit productivity.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 - On a Long Growth Runway!

<ul><li>AUBANK reported 1QFY25 PAT of INR5.02b, significantly ahead of our estimates, led by controlled opex.</li><li>NII stood at INR19.2b (in line), while NIMs improved 90bp QoQ to 6%, benefitting from the merger with Fincare SFB.</li><li>PPoP stood at INR9.9b (22% beat) as opex came in 13% lower than our estimate.</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.

AUBANK reported 1QFY25 PAT of INR5.02b, significantly ahead of our estimates, led by controlled opex.NII stood at INR19.2b (in line), while NIMs improved 90bp QoQ to 6%, benefitting from the merger with Fincare SFB.PPoP stood at INR9.9b (22% beat) as opex came in 13% lower than our estimate.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 - Low Opex Drives Earnings Beat; Credit Cost Stays High

<ul><li>Motilal Oswal's research report onAU Small Finance Bank AU Small Finance Bank (AUBANK) reported a PAT of INR3.7b in 4QFY24 (down 13% YoY), due to the stamp duty and other transaction charges related to the merger with Fincare SFB.</li><li>AUBANK’s NII grew 10% YoY to INR13.37b (3% miss), while NIM contracted 40bp QoQ to 5.1%.</li><li>PPoP grew 16% YoY to INR6.6b (in line) even as opex increased 26% YoY (4% above our estimate).</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.

Motilal Oswal's research report onAU Small Finance Bank AU Small Finance Bank (AUBANK) reported a PAT of INR3.7b in 4QFY24 (down 13% YoY), due to the stamp duty and other transaction charges related to the merger with Fincare SFB.AUBANK’s NII grew 10% YoY to INR13.37b (3% miss), while NIM contracted 40bp QoQ to 5.1%.PPoP grew 16% YoY to INR6.6b (in line) even as opex increased 26% YoY (4% above our estimate).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 - PPoP in Line; Asset Quality Improves

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)

AU Small Finance Bank Ltd - Operationally Healthy, Asset Quality Deteriorates!

AUSFB’s asset quality deterioration was primarily owing to elevated slippages mainly from the unsecured portfolio (microfinance, credit cards and PL)

Axis Direct

AU Small Finance Bank Ltd. - Operationally Strong Quarter, Asset Quality Pain to Hurt in Near-Term!

AUSFB’s asset quality deterioration was primarily owing to elevated slippages from both the secured (~33% contribution to slippages) and unsecured...

Axis Direct

AU Small Finance Bank - On a Long Growth Runway!

AU Small Finance Bank (AUBANK) is well-positioned for strong growth, demonstrating a steady improvement in operating profitability as it...

Motilal Oswal

AU Small Finance Bank - Low Opex Drives Earnings Beat; Credit Cost Stays High

AUBANK reported 1QFY25 PAT of INR5.02b, significantly ahead of our estimates, led by controlled opex. NII stood at INR19.2b (in line), while NIMs...

Motilal Oswal

AU Small Finance Bank - PPoP in Line; Asset Quality Improves

Motilal Oswal's research report onAU Small Finance Bank AU Small Finance Bank (AUBANK) reported a PAT of INR3.7b in 4QFY24 (down 13% YoY)

Motilal Oswal

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