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>The systemic credit growth (as of 13th June, 2025) has derailed to &lt;10%.</li><li>This can be attributed to a meaningful slowdown in the unsecured loans amidst continued asset quality challenges alongside banks, mainly private banks, intending to bring down their LDRs to a balanced level.</li><li>We expect the bank under our coverage to deliver ~11% YoY credit growth, marginally ahead of industry growth. </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.

The systemic credit growth (as of 13th June, 2025) has derailed to &lt;10%.This can be attributed to a meaningful slowdown in the unsecured loans amidst continued asset quality challenges alongside banks, mainly private banks, intending to bring down their LDRs to a balanced level.We expect the bank under our coverage to deliver ~11% YoY credit growth, marginally ahead of industry growth. 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.

Q1FY26 Earnings Preview - Banks, Financial Services and Insurance (BFSI)

Equity Bottom-Up

<ul><li>Firing up the Growth Engine: KTKBANK’s growth in Q2FY25 was muted owing to the bank’s conscious decision to forego opportunities in the lower-yielding PSU/bulk advances.</li><li>The bank has now beefed up its senior management team to ensure healthy growth in focus areas such as retail (housing/mortgage, vehicle, gold and education loans) and direct-to-corporate advances.</li><li>The bank has also strengthened its team by bringing in a new Head – Retail Assets and Retail Collections. </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.

Firing up the Growth Engine: KTKBANK’s growth in Q2FY25 was muted owing to the bank’s conscious decision to forego opportunities in the lower-yielding PSU/bulk advances.The bank has now beefed up its senior management team to ensure healthy growth in focus areas such as retail (housing/mortgage, vehicle, gold and education loans) and direct-to-corporate advances.The bank has also strengthened its team by bringing in a new Head – Retail Assets and Retail Collections. 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.

Karnataka Bank Ltd. - Muted Quarter, Gearing for Growth!

<ul><li>The systemic credit growth (as of 20th Sep’24) continued to remain healthy at 13% YoY.</li><li>This growth continues to be led by Retail and SMEs, while corporate credit continues to remain sluggish.</li><li>The deceleration in credit growth is most likely primarily amongst the private sector banks as they aim to reduce their LDR and maintain them at balance levels. </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.

The systemic credit growth (as of 20th Sep’24) continued to remain healthy at 13% YoY.This growth continues to be led by Retail and SMEs, while corporate credit continues to remain sluggish.The deceleration in credit growth is most likely primarily amongst the private sector banks as they aim to reduce their LDR and maintain them at balance levels. 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.

Q2FY25 Earnings Preview - Banks, Financial Services and Insurance

<ul><li>KTKBANK reported a healthy advances growth of 18/3% YoY/QoQ, led by strong growth in the corporate segment (+29/4% YoY/QoQ) and a gradual pick-up in the retail segment (+11/4% YoY/QoQ).</li><li>Deposit growth stood at 15/2% YoY/QoQ, mainly led by TDs (+18/4% YoY/QoQ), while CASA deposits de-grew by 2% QoQ.</li><li>CASA Ratio stood at 30.5% vs 32.0% YoY/QoQ. C-D Ratio stood at 73.8% vs 70.7/72.9% 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.

KTKBANK reported a healthy advances growth of 18/3% YoY/QoQ, led by strong growth in the corporate segment (+29/4% YoY/QoQ) and a gradual pick-up in the retail segment (+11/4% YoY/QoQ).Deposit growth stood at 15/2% YoY/QoQ, mainly led by TDs (+18/4% YoY/QoQ), while CASA deposits de-grew by 2% QoQ.CASA Ratio stood at 30.5% vs 32.0% YoY/QoQ. C-D Ratio stood at 73.8% vs 70.7/72.9% 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.

Karnataka Bank Ltd. - Healthy Quarter, Growth Momentum Gaining Traction!

<ul><li>Axis Top Picks: We are proud to share that our Axis Top Picks basket delivered impressive returns of 43% over the last one year, beating the benchmark Nifty 50 index (21.6% return over the same period) by a wide margin.</li><li>A few picks that reported excellent returns included PNC Infratech (15.5%), CIE Automotive India (8.5%), Coal India (8.1%), TVS Motor Company (5.8%), and Bharti Airtel (3.8%).</li><li>You can refer to our latest report here. Pick of the Week (PoW): POW calls delivered an astounding monthly strike rate of 88% in May’24. </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.

Axis Top Picks: We are proud to share that our Axis Top Picks basket delivered impressive returns of 43% over the last one year, beating the benchmark Nifty 50 index (21.6% return over the same period) by a wide margin.A few picks that reported excellent returns included PNC Infratech (15.5%), CIE Automotive India (8.5%), Coal India (8.1%), TVS Motor Company (5.8%), and Bharti Airtel (3.8%).You can refer to our latest report here. Pick of the Week (PoW): POW calls delivered an astounding monthly strike rate of 88% in May’24. 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.

Key Highlights of the Month – Fundamental

India

Karnataka Bank Ltd is a full-service bank. The Bank accepts deposits, makes loans and provides other services for the public.

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Karnataka Bank (KBL IN)

Q1FY26 Earnings Preview - Banks, Financial Services and Insurance (BFSI)

The systemic credit growth (as of 13th June, 2025) has derailed to <10%. This can be attributed to a meaningful slowdown in the unsecured loans...

Axis Direct

Karnataka Bank Ltd. - Muted Quarter, Gearing for Growth!

Firing up the Growth Engine: KTKBANK’s growth in Q2FY25 was muted owing to the bank’s conscious decision to forego opportunities in the lower...

Axis Direct

Q2FY25 Earnings Preview - Banks, Financial Services and Insurance

Mirroring the systemic credit growth trends, we expect banks under our coverage (incl. SFBs) to register credit growth of ~14/4% YoY/QoQ.

Axis Direct

Karnataka Bank Ltd. - Healthy Quarter, Growth Momentum Gaining Traction!

KTKBANK reported a healthy advances growth of 18/3% YoY/QoQ, led by strong growth in the corporate segment (+29/4% YoY/QoQ) and a gradual pick-up...

Axis Direct

Key Highlights of the Month – Fundamental

We are proud to share that our Axis Top Picks basket delivered impressive returns of 43% over the last one year, beating the benchmark Nifty 50...

Axis Direct

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