South Indian Bank - Mulitbagger Trgt 50 2 yrs time frame

South Indian Bank - Mulitbagger Trgt 50 2 yrs time frame

• South Indian Bank Limited is a private sector bank headquartered at Thrissur City in Kerala, India. South Indian Bank has 750 branches spread across more than 26 states and union territories in India. It has set up 785 ATMs all over India.
• SIB's core banking operations have improved considrable and this improvement will reflect in Stock price
• SIB's consolidation phase is over and the bank is ready to embark the high growth phase. We expect SIB to expand its branch network by ~50 branches per year, with 80% of them in non-south areas.
• The bank's deposit profile is one of the the best among its peers with 23.8% of CASA mix and 19.3% NRI deposits. Driven by expanding branch network, we expect SIB to maintain its CASA mix and hence, maintain its NIMs at 3.0%.
• Aggressive recoveries and provisions have helped SIB reduce its NNPA from 3.8% to 0.4% of advances.As the bank continues to aggressively provide for the NPAs, we expect the net NPAs to remain at 0.3% of advances and provision cover to remain stable.
• We are enthused by the bank's consistent improvement in operating performance, robust asset quality, and stable margins. tHIE Stock is also having attractive valuation.

One can Buy with Trgt 50 2 yrs time frame.