RBL Bank Valuation: Bank or Banker?

It may come as a surprise to some of you that RBL Bank, despite having caught the attention of the media only a few years ago, is actually a considerably old bank. It was incorporated in Kolhapur, Maharashtra in 1943 as 'Ratnakar Bank'. It has come a long way since then. In line with its re-branding to 'RBL Bank' in 2014, it seems to have adopted a new and lucrative business model.

DHFL Valuation: When the Facts Change..

Disclaimer: After the Cobrapost expose, there has been a lot of noise around whether the numbers reported by DHFL are genuine or not. While a rebuttal from the Management is expected, as a responsible student of valuation, I ask that you take this post with a mountain of salt. There's a famous quote in relation to Statistical Analysis that goes "Garbage in, garbage out". Put another way, if it actually turns out that the numbers were indeed misleading, then this post would be too. In that regard, I ask that you exercise due caution.