Bought some DCB bank betting mainly on its CEO Murali Natarajan.Even chairman of DCB Nasser Munjee is a reputed professional ex HDFC & IDFC. DCB has been able to reduce its NPAs hugely and is now focussed on retail & SME with NIM of 3.9%
Mr. Natrajan served as the Global Head for SME banking in Standard Chartered Bank. He was responsible for providing strategic context and business development capabilities to drive a distinctive and consistent business model across 27 markets in Asia, Africa and the Middle East. Mr. Natrajan joined Standard Chartered Bank, India to head the Mortgage & Auto Business. In November 2004, he was promoted as Head of Consumer Banking for India & Nepal overseeing business that include Mortgages, Wealth Management, Branches, ATMs, Credit Cards, Personal Loans and SME.
A Fellow Member of the Institute of Chartered Accountants of India, Mr Natrajan started his career with American Express TRS in India where he worked for 5 years in Business Planning, Finance and Operations. In 1989, he joined Citibank where he spent 14 years in various disciplines such as Operations, Credit, Finance, Product Management and Business Management of Consumer Banking. Prior to joining Standard Chartered Bank in October 2002, he had successful stints as Cards Business Director in Citibank India, Hong Kong and Indonesia.
Valuation looks also OK at 5000 Crore mkt cap 2.25 PBV fy 18. Roe Set to improve as major expansion done & QIP also in offing,
Have also bought earlier recently PFC Shankara Building Sintex