External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund 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>We recently met Mr. Shyam Srinivasan, the outgoing CEO of Federal Bank (FB), to reflect on the bank’s evolution during his tenure and the key areas that need incremental attention for the bank to reset its ceiling</li><li>With its loan book at INR2.2trn and the deposit base at INR2.7trn, FB has broken through the mid-sized banks league and has steadily narrowed the gap with larger peers</li><li>FB has been focused on growing its mix of unsecured loans and building capabilities in the wealth management space, while simultaneously targeting better traction in its corporate book to drive productivity gains and stronger profitability.</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.

We recently met Mr. Shyam Srinivasan, the outgoing CEO of Federal Bank (FB), to reflect on the bank’s evolution during his tenure and the key areas that need incremental attention for the bank to reset its ceilingWith its loan book at INR2.2trn and the deposit base at INR2.7trn, FB has broken through the mid-sized banks league and has steadily narrowed the gap with larger peersFB has been focused on growing its mix of unsecured loans and building capabilities in the wealth management space, while simultaneously targeting better traction in its corporate book to drive productivity gains and stronger profitability.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.

Federal Bank: A solid baseline offers opportunity to reset upper ceiling. Maintain BUY

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.

<ul><li>FY24 was a year of delivering a strong performance across metrics, with Federal Bank (FB) (i) Strengthening the Deposit franchise thereby strengthening its market share with a marginal gain of 5bps in terms of deposits</li><li>(Continued robust credit growth with continued improvement in mix better yielding products</li><li>Robust fee income growth,(iv) Strong RoA delivery of 1.3% despite challenges on NIMs and Opex and (v) Maintaining Asset Quality driven by controlled slippages and healthy recoveries.</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.

FY24 was a year of delivering a strong performance across metrics, with Federal Bank (FB) (i) Strengthening the Deposit franchise thereby strengthening its market share with a marginal gain of 5bps in terms of deposits(Continued robust credit growth with continued improvement in mix better yielding productsRobust fee income growth,(iv) Strong RoA delivery of 1.3% despite challenges on NIMs and Opex and (v) Maintaining Asset Quality driven by controlled slippages and healthy recoveries.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.

Federal Bank Ltd. - Going From Strength to Strength!

<ul><li>Federal Bank (FB) reported healthy credit growth of 20/5% YoY/QoQ.</li><li>FBs high-yielding portfolio contributes to ~24.8% of the total portfolio vs 22.7/24.6% YoY/QoQ.</li><li>Deposit growth of 20/5% YoY/QoQ, was driven by both TDs (+24/6% YoY/QoQ) and CASA deposits (+10/5% 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.

Federal Bank (FB) reported healthy credit growth of 20/5% YoY/QoQ.FBs high-yielding portfolio contributes to ~24.8% of the total portfolio vs 22.7/24.6% YoY/QoQ.Deposit growth of 20/5% YoY/QoQ, was driven by both TDs (+24/6% YoY/QoQ) and CASA deposits (+10/5% 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.

Federal Bank Ltd - Good Start to FY25; Focus Remains on Deposit Market Share Improvement!

External broker reports(aggregated public sources), Sharekhan

Sharekhan

Sharekhan is India's leading broking house providing services from easy online trading, research to wide array of financial products. 

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>Federal Bank Federal Bank sustained a strong loan growth of 20% y-o-y/5% q-o-q in Q1FY25, despite seasonally a weak quarter and expectation of marginally slowdown in business momentum.</li><li>Retail advances grew by 25% y-o-y, while wholesale loans grew by 14% y-o-y segment.</li><li>CASA growth picked up (+5% q-o-q vs 1% in last quarter) while the bank sustained healthy retail term deposits growth (+5% q-o-q) which resulted in healthy deposits growth of 20% YoY/5% q-o-q.</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.

Federal Bank Federal Bank sustained a strong loan growth of 20% y-o-y/5% q-o-q in Q1FY25, despite seasonally a weak quarter and expectation of marginally slowdown in business momentum.Retail advances grew by 25% y-o-y, while wholesale loans grew by 14% y-o-y segment.CASA growth picked up (+5% q-o-q vs 1% in last quarter) while the bank sustained healthy retail term deposits growth (+5% q-o-q) which resulted in healthy deposits growth of 20% YoY/5% q-o-q.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.

Federal Bank - FY25 Begins on a Strong Note

<ul><li>Sharekhan's research report onFederal Bank Federal Bank’s net interest income (NII) grew by 15% y-o-y/3% q-o-q led by healthy net advances growth and better NIMs outcome.</li><li>Net interest margin (NIMs) improved by 2 bps q-o-q to 3.21%.</li><li>Yields improved by 11 bps q-o-q offsetting 17 bps q-o-q increase in cost of funds.</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.

Sharekhan's research report onFederal Bank Federal Bank’s net interest income (NII) grew by 15% y-o-y/3% q-o-q led by healthy net advances growth and better NIMs outcome.Net interest margin (NIMs) improved by 2 bps q-o-q to 3.21%.Yields improved by 11 bps q-o-q offsetting 17 bps q-o-q increase in cost of funds.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.

Federal Bank Ltd - Q4 a Mixed Bag, Succession in Progress

India

Federal Bank is a major Indian private sector commercial bank offering a comprehensive suite of banking and financial services, including retail banking, wholesale banking, and treasury operations. It provides products such as savings and current accounts, loans, credit and debit cards, insurance, and wealth management. The bank is headquartered in Aluva, Kochi, Kerala, India, and was founded on April 23, 1931.

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Federal Bank (FB IN)

Federal Bank: A solid baseline offers opportunity to reset upper ceiling. Maintain BUY

With its loan book at INR2.2trn and the deposit base at INR2.7trn, FB has broken through the mid-sized banks league and has steadily narrowed the...

HDFC Securities

Federal Bank Ltd. - Going From Strength to Strength!

Robust fee income growth,(iv) Strong RoA delivery of 1.3% despite challenges on NIMs and Opex and (v) Maintaining Asset Quality driven by...

Axis Direct

Federal Bank - FY25 Begins on a Strong Note

Federal Bank Federal Bank sustained a strong loan growth of 20% y-o-y/5% q-o-q in Q1FY25, despite seasonally a weak quarter and expectation of...

Sharekhan

Federal Bank Ltd - Q4 a Mixed Bag, Succession in Progress

Sharekhan's research report onFederal Bank Federal Bank’s net interest income (NII) grew by 15% y-o-y/3% q-o-q led by healthy net advances growth...

Sharekhan

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Federal Bank: A solid baseline offers opportunity to reset upper ceiling. Maintain BUY

With its loan book at INR2.2trn and the deposit base at INR2.7trn, FB has broken through the mid-sized banks league and has steadily narrowed the...

HDFC Securities

Federal Bank Ltd. - Going From Strength to Strength!

Robust fee income growth,(iv) Strong RoA delivery of 1.3% despite challenges on NIMs and Opex and (v) Maintaining Asset Quality driven by...

Axis Direct

Federal Bank Ltd - Good Start to FY25; Focus Remains on Deposit Market Share Improvement!

Federal Bank (FB) reported healthy credit growth of 20/5% YoY/QoQ. FBs high-yielding portfolio contributes to ~24.8% of the total portfolio vs 22.7...

Axis Direct

Federal Bank - FY25 Begins on a Strong Note

Federal Bank Federal Bank sustained a strong loan growth of 20% y-o-y/5% q-o-q in Q1FY25, despite seasonally a weak quarter and expectation of...

Sharekhan

Federal Bank Ltd - Q4 a Mixed Bag, Succession in Progress

Sharekhan's research report onFederal Bank Federal Bank’s net interest income (NII) grew by 15% y-o-y/3% q-o-q led by healthy net advances growth...

Sharekhan