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Entry Price

19.00

Target

23.00

Recommend Date

26-05-2020

Return

21.05 %
BUY

Date : 26-05-2020

Amid Covid, the bank offered moratorium to customers as per regulatory requirement. Customers with ~35% of advances opted for the same. Provision was at | 679 crore, including | 225 crore related to Covid-19. Out of remaining normalised provision of | 454 crore, | 349 crore is for retail loans and | 105 crore pertains to wholesale loans. Asset quality saw QoQ improvement with GNPA, NNPA ratio improving ~23 bps, ~29 bps to 2.60% 0.94%, respectively