External broker reports(aggregated public sources), Emkay Global Financial Services Limited

Emkay

Emkay Global Financial Services Ltd. is a leader in the financial services sector, actively creating wealth for our clients for over two decades.

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External broker reports(aggregated public sources)

Emkay Global Financial Services Limited

Emkay Global Financial Services Ltd. is a leader in the financial services sector, actively creating wealth for our clients for over two decades. 

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

AU Small Finance Bank Limited / Equity Bottom-Up

AU Small Finance Bank Limited (AUBANK IN)

<ul><li>AU SFB logged a muted performance with a 5% miss on PAT at Rs5.3bn/RoA at 1.5%, mainly on lower other income and elevated provisions owing to ongoing stress in unsecured loans (MFI, Cards, PL) and seasonality impact on the agri and wheels book.</li><li>The management indicated that 20% of the MFI portfolio (MFI book is 7% of overall loans) will be impacted by the MFIN 2.0 guidelines, and thus expects higher slippages/credit cost in Q4.</li><li>The bank has taken corrective measures in the Card business, but stress could remain elevated in 4Q.</li></ul><p><em>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.</em></p>

AU SFB logged a muted performance with a 5% miss on PAT at Rs5.3bn/RoA at 1.5%, mainly on lower other income and elevated provisions owing to ongoing stress in unsecured loans (MFI, Cards, PL) and seasonality impact on the agri and wheels book.The management indicated that 20% of the MFI portfolio (MFI book is 7% of overall loans) will be impacted by the MFIN 2.0 guidelines, and thus expects higher slippages/credit cost in Q4.The bank has taken corrective measures in the Card business, but stress could remain elevated in 4Q.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.

AU Small Finance Bank - Stress to Persist in near Term, but Eyes Glued on 1.6% RoA