ICICI Direct has given Buy recommendation for Kotak Mahindra Bank with a target price of Rs. 2150 in its research report issued on May 05, 2022

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 61% of total deposits aiding lower costs • Strong RoA of ~2%and RoE of 12-13% makes it a good profitable bank.

Outlook

We remain positive on fundamentals expecting healthy business growth ahead and maintain our BUY rating on the stock. We value standalone bank at ~3.6x FY24E ABV and subsidiaries at ~Rs 485 post holding company discount giving SOTP target of Rs 2150.

What is your view on Kotak Mahindra Bank?

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