RBL Bank Ltd.

NSE: RBLBANK | BSE: 540065 | ISIN: INE976G01028 |Industry: Banks
|Expensive Underperformer

RBL Bank Ltd.    
10 Jul 2019
301.45
-2.38%
HDFC Securities
Our recent interactions with RBK suggest less than commensurate credit risk, achieved via tight (and differentiated) credit policies. RBL Banks (RBK) focus on niche credit segments (credit cards and micro finance) gives it better spreads, system-beating growth and a multi-year addressable opportunity that enables it to outperform peers. Our positive stance is reflected in consistently robust operating metrics. RBKs scorching pace of growth along with its unconventional (but consciously chosen) evolution has invited skepticism. Maintain BUY with a TP of Rs 803 (3x FY21E ABV of Rs 268).
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RBL Bank Ltd. has lost -47.51% in the last 1 Year
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