Federal Bank Q4 Results Review: Dolat Capital Maintains 'Accumulate', Hikes Target Price - Here's Why

While initiatives towards organic sourcing, shifting branch focus to sales, and liability approach to enhance net interest margin are appreciated, execution remains key and near-term opex/RoA pressures cannot be ruled out, particularly due to ongoing NIM risks. The brokerages' ‘Accumulate’ stance is driven by modest profitability ratios (RoA at ~1.3%) and limited seasoning of newer retail portfolios (credit costs remain untested thro...