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>Advances grew by 26/5% YoY/QoQ led by growth in home loans (+61/16% YoY/QoQ), Credit cards (+3.6x YoY), and business banking (+72/14% YoY/QoQ).</li><li>NII grew by 30/5% YoY/QoQ, driven by strong advances growth, and margins contracted by ~20/10bpsYoY/QoQ owing to higher CoF.</li><li>Opex growth remained elevated as the bank continues to invest in building the franchise.</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.

Advances grew by 26/5% YoY/QoQ led by growth in home loans (+61/16% YoY/QoQ), Credit cards (+3.6x YoY), and business banking (+72/14% YoY/QoQ).NII grew by 30/5% YoY/QoQ, driven by strong advances growth, and margins contracted by ~20/10bpsYoY/QoQ owing to higher CoF.Opex growth remained elevated as the bank continues to invest in building the franchise.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 IN - Strong Levers for Fee Income Growth to Partially Offset Margin Pressures!

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>AUBANK reported 30% YoY growth in net earnings (8% beat), driven by lower provisions.</li><li>However, operating profit came in line with growth in NII, aided by stable margins and healthy loan growth.</li><li>Gross advances/deposits grew strongly at 38% YoY each, however, CASA deposits witnessed pressure, resulting in CASA ratio moderating to 38%.</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 30% YoY growth in net earnings (8% beat), driven by lower provisions.However, operating profit came in line with growth in NII, aided by stable margins and healthy loan growth.Gross advances/deposits grew strongly at 38% YoY each, however, CASA deposits witnessed pressure, resulting in CASA ratio moderating to 38%.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 - Steady Operating Performance; Loan Growth Accelerates

<ul><li>Credit growth expected to remain buoyant – AU Small Finance Bank (AUSFB) continues to witness strong credit demand across segments as was visible in Q3FY23.</li><li>The management expects the demand momentum to sustain going forward. We expect the bank to clock a robust advances growth of ~29% CAGR over FY22-25E.</li><li>Asset Quality continues to remain stable – Asset quality trends continue to remain encouraging.</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.

Credit growth expected to remain buoyant – AU Small Finance Bank (AUSFB) continues to witness strong credit demand across segments as was visible in Q3FY23.The management expects the demand momentum to sustain going forward. We expect the bank to clock a robust advances growth of ~29% CAGR over FY22-25E.Asset Quality continues to remain stable – Asset quality trends continue to remain encouraging.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.

<ul><li>AUBANK posted 23% YoY growth in net earnings (9% beat) led by lower provisions in 2QFY23.</li><li>However, operating profit came in line with healthy NII growth aided by 30bp QoQ margin expansion to 6.2% during the quarter.</li><li>Gross advances grew strongly at 44% YoY, and deposits rose 49% YoY with healthy traction in CASA deposits.</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 posted 23% YoY growth in net earnings (9% beat) led by lower provisions in 2QFY23.However, operating profit came in line with healthy NII growth aided by 30bp QoQ margin expansion to 6.2% during the quarter.Gross advances grew strongly at 44% YoY, and deposits rose 49% YoY with healthy traction in CASA deposits.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 - Operating Performance in Line; Margins Expand Sequentially

<ul><li>AU Small Finance Bank (AUSFB) reported a strong performance in Q2FY23 with a beat across all parameters.</li><li>The key positive during the quarter was the superior growth on both sides of the balance sheet as well as NIM expansion to 6.2% (+20/30bps YoY/QoQ) with CoF remaining under control.</li><li>This was despite systemic rate hikes and benign credit costs which collectively enabled AU SFB to deliver a strong RoA/RoE of 1.8/15.3% (post-considering equity dilution).</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 (AUSFB) reported a strong performance in Q2FY23 with a beat across all parameters.The key positive during the quarter was the superior growth on both sides of the balance sheet as well as NIM expansion to 6.2% (+20/30bps YoY/QoQ) with CoF remaining under control.This was despite systemic rate hikes and benign credit costs which collectively enabled AU SFB to deliver a strong RoA/RoE of 1.8/15.3% (post-considering equity dilution).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 - Robust All-Round Performance!

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)

AUBANK IN - Strong Levers for Fee Income Growth to Partially Offset Margin Pressures!

Advances grew by 26/5% YoY/QoQ led by growth in home loans (+61/16% YoY/QoQ), Credit cards (+3.6x YoY), and business banking (+72/14% YoY/QoQ).

Axis Direct

AU Small Finance Bank - Steady Operating Performance; Loan Growth Accelerates

AUBANK reported 30% YoY growth in net earnings (8% beat), driven by lower provisions. However, operating profit came in line with growth in NII,...

Motilal Oswal

AU Small Finance Bank Ltd -

Credit growth expected to remain buoyant – AU Small Finance Bank (AUSFB) continues to witness strong credit demand across segments as was visible...

Axis Direct

AU Small Finance Bank - Operating Performance in Line; Margins Expand Sequentially

However, operating profit came in line with healthy NII growth aided by 30bp QoQ margin expansion to 6.2% during the quarter.

Motilal Oswal

AU Small Finance Bank Ltd - Robust All-Round Performance!

This was despite systemic rate hikes and benign credit costs which collectively enabled AU SFB to deliver a strong RoA/RoE of 1.8/15.3% (post...

Axis Direct

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