BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Yes Securities Report
Axis Bank Ltd. announced a deal on Wednesday to acquire Citibank India’s retail assets, which is net positive for Axis Bank from a business standpoint. Our view regarding the deal includes the following key aspects-
the rationale for the deal makes sense for Axis Bank due to a variety of reasons,
integration of Citi’s business will be a key monitorable but importantly, there is some downside protection built into the deal for Axis Bank,
we think that the deal will be return on equity accretive in FY24E and raise our FY24E profit after tax estimate by 3.5%.
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