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Allahabad Bank
We expect marginal fall in net interest income of the bank on account of high cost of funds for the
bank for which the effect wasn’t seen in the previous quarter.
We do expect healthy growth in business y‐o‐y.
We expect the provisions to increase slightly on account of the fall in asset quality due to system
driven recognition of NPA’s.
Asset quality will remain under control. Our recent interaction with management has been that
the asset quality will remain under comfortable levels & we will not expect a surprise coming in
from here.
Return ratios are expected to be more or less in line with Q1FY12.
Currently, the stock is available at a P/ABV of ~0.6x FY13E.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Allahabad Bank
We expect marginal fall in net interest income of the bank on account of high cost of funds for the
bank for which the effect wasn’t seen in the previous quarter.
We do expect healthy growth in business y‐o‐y.
We expect the provisions to increase slightly on account of the fall in asset quality due to system
driven recognition of NPA’s.
Asset quality will remain under control. Our recent interaction with management has been that
the asset quality will remain under comfortable levels & we will not expect a surprise coming in
from here.
Return ratios are expected to be more or less in line with Q1FY12.
Currently, the stock is available at a P/ABV of ~0.6x FY13E.
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