Citi has maintained its ‘Buy’ rating on Kotak Mahindra Bank, setting a target price of ₹2,070 per share, implying a 6.4% upside from the current market price of ₹1,945.50.
The brokerage notes that with the RBI lifting business restrictions, Kotak Mahindra Bank is expected to accelerate its focus on unsecured lending, particularly through credit card issuances and aggressive marketing campaigns.
Additionally, Citi expects the bank to drive granular deposit mobilization through its 811 platform, further strengthening its liability franchise. Kotak has already demonstrated readiness for expansion by enhancing cross-sell capabilities and automating customer journeys.
The bank has also soft-launched its new mobile banking app, ‘Embark’, which is expected to improve customer engagement and digital banking experience. Citi believes these developments will enhance Kotak’s visibility toward achieving its targeted share of unsecured loans in the mid-teens.
With business normalization and an upbeat growth strategy, Citi remains positive on Kotak Mahindra Bank’s long-term outlook.
Disclaimer: The above article is for informational purposes only and does not constitute financial advice. Investors are advised to consult their financial advisors before making any investment decisions.
