Buy Kotak Mahindra Bank; target of Rs 2175: ICICI Direct

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ICICI Direct's research report on Kotak Mahindra Bank

Kotak Mahindra Bank (KMB) is a powerful banking franchise, with promoter stake at ~26% and strong promoter led management. It has a presence across the financial services value chain. CASA forms ~53% of total deposits aiding lower costs • Superior RoA of ~2% and RoE of ~12%.

Outlook

We maintain BUY rating on the stock. Rolling to FY25E, we value the standalone bank at ~3.35x FY25E ABV and subsidiaries at ~Rs 497 post holding company discount giving an SOTP target of Rs 2175.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Kotak Mahindra Bank - 23 -01-2023 - icici