Morgan Stanley has retained its ‘Underweight’ rating on RBL Bank, setting a target price of Rs 210. The report highlights a moderation in loan growth across the board. Retail loans saw a quarter-on-quarter (QoQ) growth of 2%, a significant slowdown compared to the 10% growth witnessed in the previous quarter. Meanwhile, non-retail loans also grew by 2% QoQ, recovering from a 6% decline in the last quarter.
Deposits recorded a notable improvement, growing by approximately 7% QoQ after witnessing a 2% decline in the previous quarter. Additionally, the liquidity coverage ratio (LCR) remains robust, standing at 142% in Q2, up from 137% in Q1.
Current market price (CMP): Rs 197.38 at 8AM, Oct 7, 2024
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