ICICI Direct has given Buy recommendation for Federal Bank with a target price of Rs. 100 in its research report issued on Jul 24, 2021

ICICI Direct’s research report on Federal Bank

Federal Bank is an old private sector bank based out of Kerala with around 1272 branches and 1953 ATM across various states. Strong liability franchisee with 93% of total deposits being retail Balanced loan mix with retail: corporate mix of 54:46

Outlook

Factoring in a diversified asset mix and improving digital footprint, we retain our BUY rating on the stock We value Federal Bank at ~1.1x FY23E ABV to arrive at a revised target price of Rs 100.

 

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