Nomura has maintained its ‘Neutral’ rating on AU Small Finance Bank (AU SFB), setting a target price of Rs 650, which reflects a downside from the current market price. In its pre-Q2 update, the brokerage notes strong loan and deposit growth.
The report highlights a significant 10.9% quarter-on-quarter (QoQ) growth in CASA deposits, demonstrating solid performance in the bank’s deposit base.
Current market price (CMP): Rs 720.00 as of 8 AM, Oct 7, 2024
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