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>MFI Stress Peaks; Credit Costs to Taper Gradually: The stress in the MFI has peaked, and slippages in this segment are expected to gradually taper from H2 onwards.</li><li>Similarly, the asset quality challenges in the Personal Loans (PL) and Credit Card (CC) segments have stabilised.</li><li>The bank is witnessing emerging stress in the retail CV segment. </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.

MFI Stress Peaks; Credit Costs to Taper Gradually: The stress in the MFI has peaked, and slippages in this segment are expected to gradually taper from H2 onwards.Similarly, the asset quality challenges in the Personal Loans (PL) and Credit Card (CC) segments have stabilised.The bank is witnessing emerging stress in the retail CV segment. 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.

Kotak Mahindra Bank Ltd. - MFI Stress Peaks; Looking to Accelerate Growth in Credit Cards and PL

<ul><li>FY25 was a tough year for Kotak Mahindra Bank (KMB) with the regulatory restrictions on digital on-boarding of customers through the 811 channel and issuing new credit cards, hampering credit growth and weighing on margins for most of the year.</li><li>Despite these challenges, KMB utilised the embargo period to define its go-to-market strategy alongside digitising and automating the customer journey to ensure the easing of banking, while overhauling its tech infrastructure and capabilities.</li><li>The bank’s focus remained on growing the secured assets while maintaining asset quality. </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.

FY25 was a tough year for Kotak Mahindra Bank (KMB) with the regulatory restrictions on digital on-boarding of customers through the 811 channel and issuing new credit cards, hampering credit growth and weighing on margins for most of the year.Despite these challenges, KMB utilised the embargo period to define its go-to-market strategy alongside digitising and automating the customer journey to ensure the easing of banking, while overhauling its tech infrastructure and capabilities.The bank’s focus remained on growing the secured assets while maintaining asset quality. 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.

Kotak Mahindra Bank Ltd. - Potentially Faster NIM Recovery and Growth Pick-Up to Aid Re-Rating!

<ul><li>Focus shifts to calibrated growth in unsecured segments with embargo lifted: With the embargo on the digital sourcing lifted, KMB will look to resume growth in the unsecured manner, though in a calibrated manner</li><li>. The management intends to gradually scale up the share of the unsecured portfolio to 15% from ~10.5% currently.</li><li>The bank has resumed issuance of new credit cards and plans to roll out new cards and initiatives to drive healthy growth in the portfolio. </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.

Focus shifts to calibrated growth in unsecured segments with embargo lifted: With the embargo on the digital sourcing lifted, KMB will look to resume growth in the unsecured manner, though in a calibrated manner. The management intends to gradually scale up the share of the unsecured portfolio to 15% from ~10.5% currently.The bank has resumed issuance of new credit cards and plans to roll out new cards and initiatives to drive healthy growth in the portfolio. 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.

Kotak Mahindra Bank Ltd - Steady Quarter; Looking to Accelerate Growth in Unsecured Segments

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>Kotak Mahindra Bank (KMB) reported a standalone PAT of ~INR33b (in line; 10% YoY growth).</li><li>Consol. PAT stood at INR47b (10% YoY growth) in 3QFY25. NII grew 10% YoY to INR71.9b (in line).</li><li>NIM surprised with a 2bp QoQ improvement to 4.93% (vs. our est. of 4.83%), benefitting from a reduction in SA rate.</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.

Kotak Mahindra Bank (KMB) reported a standalone PAT of ~INR33b (in line; 10% YoY growth).Consol. PAT stood at INR47b (10% YoY growth) in 3QFY25. NII grew 10% YoY to INR71.9b (in line).NIM surprised with a 2bp QoQ improvement to 4.93% (vs. our est. of 4.83%), benefitting from a reduction in SA rate.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.

Kotak Mahindra Bank - Steady Performance Amid Challenging Macro; RoA Outlook Healthy

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>Q3FY25 numbers were stable despite an RBI embargo and sectoral headwinds but timelines relating to lifting of RBI embargo remain unclear.</li><li>Core PPoP (excl. treasury gains &amp; other income) grew by 11% y-o-y/ 4% q-o-q.</li><li>Most key operating metrics did well - NIMs were stable, loan growth was better than expectation, deposit growth was also healthy and most importantly, asset quality trends were stable.</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.

Q3FY25 numbers were stable despite an RBI embargo and sectoral headwinds but timelines relating to lifting of RBI embargo remain unclear.Core PPoP (excl. treasury gains &amp; other income) grew by 11% y-o-y/ 4% q-o-q.Most key operating metrics did well - NIMs were stable, loan growth was better than expectation, deposit growth was also healthy and most importantly, asset quality trends were stable.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.

Kotak Mahindra Bank - Stable Show Amid Headwinds, RBI Embargo

India

Kotak Mahindra Bank is an Indian banking and financial services company that offers a comprehensive range of banking products and financial services to corporate and retail customers. These services include personal finance, investment banking, life insurance, wealth management, consumer banking, commercial banking, and treasury operations. The company provides deposit accounts, various loans, credit and debit cards, mutual funds, and insurance plans. Headquartered in Mumbai, India, the company was founded in 1985 as Kotak Mahindra Finance Limited and received its banking license in 2003.

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Kotak Mahindra Bank (KMB IN)

Kotak Mahindra Bank Ltd. - MFI Stress Peaks; Looking to Accelerate Growth in Credit Cards and PL

MFI Stress Peaks; Credit Costs to Taper Gradually: The stress in the MFI has peaked, and slippages in this segment are expected to gradually taper...

Axis Direct

Kotak Mahindra Bank Ltd. - Potentially Faster NIM Recovery and Growth Pick-Up to Aid Re-Rating!

Asset quality challenges were visible in the unsecured segments, while secured segments continued to behave well. Asset quality remained steady in...

Axis Direct

Kotak Mahindra Bank Ltd - Steady Quarter; Looking to Accelerate Growth in Unsecured Segments

With the embargo on the digital sourcing lifted, KMB will look to resume growth in the unsecured manner, though in a calibrated manner

Axis Direct

Kotak Mahindra Bank - Steady Performance Amid Challenging Macro; RoA Outlook Healthy

Kotak Mahindra Bank (KMB) reported a standalone PAT of ~INR33b (in line; 10% YoY growth). Consol. PAT stood at INR47b (10% YoY growth) in 3QFY25....

Motilal Oswal

Kotak Mahindra Bank - Stable Show Amid Headwinds, RBI Embargo

Q3FY25 numbers were stable despite an RBI embargo and sectoral headwinds but timelines relating to lifting of RBI embargo remain unclear.

Sharekhan

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