Fundamental

DCB Bank



Company Overview

Development Credit Bank Ltd (DCB) is one of the emerging private sector banks in India. The bank is amongst the first private sector banks to waive advisory fee and service charge for mutual fund investments. The services offered by the bank include Personal Banking- under this segment; they offer saving accounts, deposit scheme, current accounts, personal loans, housing loans, phone banking facility, mutual funds, demat account, life and general insurance etc. Corporate banking - In this they offer products and services from large corporates to small and medium enterprises. NRI banking- they offer products and services to NRI clients such as remittances services, western union money transfer, loans against term deposit, currency exchange etc.

Outlook & Valuation

We believe they made a remarkable turnaround in a tough environment by reporting a steady improvement in most of the parameters. DCB is well placed in terms of capital adequacy and asset quality, which has been a major concern during the last quarter of the banking industry. They also have adequate capital to pursue further growth opportunities.

We have a target of Rs.227, valuing the stock at 2.1x to its FY20E ABV.


Tags: Fundamental PickDCB Bank


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