The Management focuses on increasing loan book in low-ticket retail, SME & AIB segments and augmenting its footprint both on physical and digital front. Though this aggressive strategy of expanding footprints will marginally impact its return ratios in the near-term, it would bring forth substantial positive benefits in the long-term. Further, the Management focuses on increasing efficiency of existing network to improve cost to income ratio in the long-term, which will lead to sustained earnings growth, in our view. We expect further improvement in Bank's performance due to rollout of GST, as creditworthiness of its core client group from SME/MSME segment will improve substantially. We reiterate our BUY recommendation on the stock with an...