As lockdown remains in force and the recently announced fiscal stimulus is not seen as impressive, there is feared still worse impact on Indian banks. Also, there has been doled out Rs. 3 lakh crore package for SMEs that will avoid them to be categorized as NPAs and further extension of loan moratorium until August 2020, the credit cost and slippage for FY22E shall be increased as per Credit Suisse.
Credit Suisse Cuts Target Price Of Banks By 10-20%
And on account of it, global brokerage firm Credit Suisse has cut FY21/FY22 earnings as well as target price of banks has been cut by 10-20%.
Here are the new earnings and target price for top banks in India:
Bank
Rating
Previous Target price
New Target Price
HDFC Bank
Outperform
1280
1100
ICICI Bank
Outperform
450
390
Axis Bank
Outperform
520
450
SBI
Outperform
250
200
Kotak Mahindra Bank
Neutral
1250
1150
IndusInd Bank
Underperform
430
350
GoodReturns.in
Notifications
Settings
Clear Notifications
No New Notifications
Notifications
Use the toggle to switch on notifications
Block for 8 hours
Block for 12 hours
Block for 24 hours
Don't block
To start receiving timely alerts, as shown below click on the Green “lock” icon next to the address bar
Click it and Unblock the Notifications
Close X
Close X
To Start receiving timely alerts please follow the below steps:
Click on the Menu icon of the browser, it opens up a list of options.
Click on the “Options ”, it opens up the settings page,
Here click on the “Privacy & Security” options listed on the left hand side of the page.
Scroll down the page to the “Permission” section .
Here click on the “Settings” tab of the Notification option.
A pop up will open with all listed sites, select the option “ALLOW“, for the respective site under the status head to allow the notification.
Once the changes is done, click on the “Save Changes” option to save the changes.
Click it and Unblock the Notifications
Sign in with Google