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Karur Vysya Bank Can Rally 44%, Says ICICI Securities, Maintains 'Buy' — Here's Why
Despite factoring in NIM moderation, Karur Vysya’s RoA/RoE may not only exhibit resilience, but possibly even outpace peers, and be in the same league as large private bank, says the brokerage.
01 Apr 2025, 11:33 AM IST 
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The brokerages' target multiple is reflective of strong resilience in growth, opex and RoA.
(Photo source: Bank's website)
In the current cycle, Karur Vysya Bank has built strong resilience in growth (strong edge on cost of funds; diversified book), opex (front-loaded investments in manpower, tech) and asset quality (one of the few banks to see improving credit costs), and thus, RoA longevity. We also highlight healthy option value once the deposits/unsecured PL environment improves. We expect Karur Vysya to retain its leadership on RoA/RoE among mid-sma...
