External broker reports(aggregated public sources), Nirmal Bang

Nirmal Bang

External broker reports(aggregated public sources)

A Relationship Beyond Broking

Nirmal Bang, one of the leading stock broking companies in India, caters to retail and institutional clients by offering them a range of financial products and services, including equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS.

Nirmal Bang is drawn from a diversity of professional backgrounds, and blend of experience, skill and dedication is shared with its clients. Nirmal Bang emphasizes adequate, thorough research local and world-wide developments, balancing these with the astute discovery of intrinsic values, synergies and growth. The aim is simply to help the investors to maximize their returns.

Thematic (Sector/Industry)

<div><ul><li>Treasury losses to dent earnings: While we expect NII growth to be strong (up 16.9% YoY for coverage banks), treasury losses could be a major drag on operating profit growth.</li><li>Systemic credit growth, provisional updates indicate optimism: As per RBI’s latest data, systemic credit growth rate is 12% YoY (June’22).</li><li>Large cap banks showing stronger traction than peers; housing doing well: We expect large cap coverage banks to continue to report higher growth (20.7% YoY) vis-à-vis mid/small-cap peers (16.9% YoY) and PSBs (15.5% YoY).</li></ul></div>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.

Treasury losses to dent earnings: While we expect NII growth to be strong (up 16.9% YoY for coverage banks), treasury losses could be a major drag on operating profit growth.Systemic credit growth, provisional updates indicate optimism: As per RBI’s latest data, systemic credit growth rate is 12% YoY (June’22).Large cap banks showing stronger traction than peers; housing doing well: We expect large cap coverage banks to continue to report higher growth (20.7% YoY) vis-à-vis mid/small-cap peers (16.9% YoY) and PSBs (15.5% YoY).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 & Financials Sector - Weak Treasury to Dent Earnings

<ul>
<li>Credit growth picking up; lower provisions to drive earnings We expect strong earnings performance from banks in 4QFY22, driven by: (1) improving credit growth (systemic growth 8.5% YoY) (2) stable margins and (3) lower credit costs.</li>
<li>Data suggests upturn in credit growth across segments (Retail and Corporate).</li>
<li>Within the Retail segment, Housing has continued to show sustained traction while unsecured credit has been improving sequentially.</li>
<li>Large private banks are expected to grow at a highe...(continued).</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 picking up; lower provisions to drive earnings We expect strong earnings performance from banks in 4QFY22, driven by: (1) improving credit growth (systemic growth 8.5% YoY) (2) stable margins and (3) lower credit costs.
Data suggests upturn in credit growth across segments (Retail and Corporate).
Within the Retail segment, Housing has continued to show sustained traction while unsecured credit has been improving sequentially.
Large private banks are expected to grow at a highe...(continued).

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 & Financials Sector: Credit Growth Picking Up; Lower Provisions to Drive Earnings

External broker reports(aggregated public sources), Axis Direct

Axis Direct

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>CUB reported a mixed set of numbers. Credit growth continues to lag industry and peer growth and stood at 2/3% YoY/QoQ. NII de-grew by 5% YoY and improved by 3% QoQ.</li><li>NIMs remained steady at 3.7%, flat QoQ. Opex growth was driven by higher employee costs owing to the roll-out of annual increments during the quarter.</li><li>Challenges on NII growth, lower treasury income and higher Opex hurt PPOP, which de-grew by 15/7% YoY/QoQ. </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.

CUB reported a mixed set of numbers. Credit growth continues to lag industry and peer growth and stood at 2/3% YoY/QoQ. NII de-grew by 5% YoY and improved by 3% QoQ.NIMs remained steady at 3.7%, flat QoQ. Opex growth was driven by higher employee costs owing to the roll-out of annual increments during the quarter.Challenges on NII growth, lower treasury income and higher Opex hurt PPOP, which de-grew by 15/7% YoY/QoQ. 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.

City Union Bank - FY24 Guidance Maintained Despite a Sluggish H1FY24!

<ul><li>CUB reported yet another weak quarter with slower than industry/peers loan growth at 4% YoY.</li><li>The weakness in credit growth during the quarter can be attributed to the seasonal weakness generally witnessed in Q1, along with CUB witnessing a slowdown in the cash credit utilization which is currently at ~70-72% vs. historical avg. of 75-80%.</li><li>NII growth was largely flat YoY/QoQ, with margins remaining stable QoQ. Lower non-interest income and higher C-I Ratio (up 221bps YoY) dented PPOP which de-grew by 7% YoY and was flat QoQ. </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.

CUB reported yet another weak quarter with slower than industry/peers loan growth at 4% YoY.The weakness in credit growth during the quarter can be attributed to the seasonal weakness generally witnessed in Q1, along with CUB witnessing a slowdown in the cash credit utilization which is currently at ~70-72% vs. historical avg. of 75-80%.NII growth was largely flat YoY/QoQ, with margins remaining stable QoQ. Lower non-interest income and higher C-I Ratio (up 221bps YoY) dented PPOP which de-grew by 7% YoY and was flat QoQ. 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.

City Union Bank Ltd - Another Weak Quarter

<ul>
<li>CUB reported yet another weak quarter with slower than industry/peers loan growth and sharp NIM contraction.</li>
<li>NII grew by 3% YoY, while it de-grew by 7% QoQ owing to a 36/23bps contraction in NIMs, primarily owing to a sharp increase in CoF (+35 bps QoQ).</li>
<li>Lower non- interest income and inch-up in Opex resulted in PPOP de-growing by 5/16% YoY/QoQ</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.


CUB reported yet another weak quarter with slower than industry/peers loan growth and sharp NIM contraction.
NII grew by 3% YoY, while it de-grew by 7% QoQ owing to a 36/23bps contraction in NIMs, primarily owing to a sharp increase in CoF (+35 bps QoQ).
Lower non- interest income and inch-up in Opex resulted in PPOP de-growing by 5/16% YoY/QoQ

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.

India

City Union Bank Limited is an Indian private sector bank that offers a comprehensive range of banking and financial services, including personal, corporate, and NRI banking, as well as digital services and loans. The bank serves a diverse clientele, focusing on the MSME sector, retail traders, and agriculturalists. Headquartered in Kumbakonam, Tamil Nadu, India, the bank was founded on October 31, 1904.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

City Union Bank (CUBK IN)

Banking & Financials Sector - Weak Treasury to Dent Earnings

We expect banks to report weak earnings due to treasury losses. We expect operating earnings of coverage banks to decline by 6.5% YoY and 11.2% QoQ...

Nirmal Bang

Banking & Financials Sector: Credit Growth Picking Up; Lower Provisions to Drive Earnings

Credit growth picking up; lower provisions to drive earnings We expect strong earnings performance from banks in 4QFY22, driven by: (1) improving...

Nirmal Bang

City Union Bank - FY24 Guidance Maintained Despite a Sluggish H1FY24!

CUB reported a mixed set of numbers. Credit growth continues to lag industry and peer growth and stood at 2/3% YoY/QoQ. NII de-grew by 5% YoY and...

Axis Direct

City Union Bank Ltd - Another Weak Quarter

The weakness in credit growth during the quarter can be attributed to the seasonal weakness generally witnessed in Q1, along with CUB witnessing a...

Axis Direct

City Union Bank Ltd. - Weak Quarter

Confident of Delivering RoA of 1.5% Despite Multiple Headwinds!. CUB reported yet another weak quarter with slower than industry/peers loan growth...

Axis Direct

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)