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Monetary Policy: In no hurry to cut rates!

Jun 3, 2014

Does the 0.5% cut in SLR mean that more rate cuts are around the corner?

Monetary Policy: RBI's carrot and stick approach

Oct 29, 2013

The Central Bank opts for a repo rate hike second time in a row

How cost-efficient are Indian banks?

Oct 8, 2013

Are Indian banks at par with global benchmarks in terms of cost-efficiency?

Banks: The subsidiary conundrum

Aug 31, 2007

The evolution of the banking sector in India has finally reached the stage of getting aligned to its peers in the developed world. And why not! If the regulator's (RBI's) roadmap of allowing foreign players into the sector by FY09 deserves some degree of seriousness, this seems imperative.

Bank of Baroda public issue: Our view

Jan 16, 2006

Bank of Baroda’s second public issue (100% book building) for 71 m equity shares, at a face value of Rs 10 each, will be open for bidding between the 16th and 20th of January 2006. The bank has reserved 7.1 m shares for eligible employees and minimum 22.4 m shares (35% of net issue) for retail investors. Going by the price band of Rs 210 to Rs 230, the bank is expected to mop up Rs 16.3 bn (at the higher end of the band) through the offer. The issue is slated to bring down government's holding i

SBI: Core business drives growth

Nov 1, 2004

SBI, the largest bank in the country, reported a rather improved quarterly performance for the September quarter relative to its performance over the last few quarters. For 2QFY05, while the bank's topline rose 6% YoY (which is a healthy sign), bottomline witnessed a YoY growth of nearly 9%. There has, however, been a significant improvement in the bank's net interest income highlighting the strength of its core business. There has been a significant fall in other income. However, the same has b

ICICI Bank: Making the right moves

Oct 23, 2004

ICICI Bank's performance for the September quarter seems rather subdued compared to its performance in the June quarter. While the topline trend remains lackluster (marginal rise) the bottomline growth has been subdued at 10% YoY, mainly on account of higher provisioning requirements, which we believe is primarily on account of depreciation in its investment portfolio. We however need to point out that there is a significant rise in net interest income (45% YoY), signaling the improving performa

ICICI Bank: Better asset quality picture

Apr 30, 2004

ICICI Bank, has reported another strong quarter and year of growth. While the bank's topline fell by 5.1% in FY04, bottomline grew by 36% in the same period. For the March quarter too, the results were similar with topline falling by 7.2%, while bottomline grew by nearly 35%. Fall in interest expenses has led to a strong growth in net interest income, which in turn contributed to the bottomline improvement. The bank has also reported a sharp rise in other income, further helping bottomline growt

SBI: Other income fillip

Oct 30, 2003

SBI, the largest bank in the country, has reported a 21% YoY growth in its bottomline despite a marginal fall in topline for the September quarter. SBI's strong bottomline performance for 2QFY04 (like 1QFY04) was primarily on account of improvement in its operating margins as well as a strong growth in other income. The bank also has significantly increased its provisioning in the September quarter, which led to some curtailment in the bottomline growth. For 1HFY04, the performance on a YoY basi

Bank IPOs: An investing checklist

Oct 1, 2003

The primary market (IPO) for equities seems to be witnessing a revival of sorts with the stock markets going through a bullish phase. While this is a general behaviour that is observed in periods of bullish stock markets, we would like investors to be cautious regarding the decisions (in terms of IPOs) they take. This is because companies in order to take advantage of the positive sentiment sometimes take retail investors for a ride, and hence investors need to be extra careful regarding the sam

“Housing sector, particularly, for another 25 years looks attractive to me…”

Sep 22, 2003

Mr. P. S. Shenoy is a CAIIB and possesses the rich 35 years of banking experience. Mr. Shenoy started his career with Bank of India (BoI) as an officer in April 1966 and rose through the ranks to head BoI’s operations at Hong Kong and New York. He was with BoI till 1998 and his long experience includes heading operations in international division, finance and group strategy covering, planning, treasury and monitoring of subsidiaries.
Currently Mr. Shenoy is the Chairman and Managing Dire

BOB: Growth challenges remain

Aug 12, 2003

Bank of Baroda (BOB) reported a relatively better start for FY04 (compared to 4QFY03) in its June quarter results. The bank reported a 34% growth in its bottomline, on the back of a topline growth of over 5% in the June quarter on a YoY basis. A significant fall in interest expenses and a sustained growth in other income arising from sale of investments has ensured yet again that the bottomline grows at a healthy rate. The bank has also done well to control costs, thus improving upon its operati

BOI: A long way to go

Aug 7, 2003

Bank of India, one of the largest public sector banks in the country, reported a 15% YoY rise in net profits on the back of a marginal (2%) rise in topline for the quarter ending June 2003. While topline growth was subdued, bottomline grew significantly due to falling interest expenses and rise in other income. Higher other income was seemingly due to healthy treasury gains from sale of investments.

Corporation Bank: Internal focus

Jul 28, 2003

Corporation Bank, has reported a strong growth in its bottomline despite a lackluster growth in its topline. While bottomline has risen by 29% topline has grown by a marginal 3.5% in 1QYF04 on a YoY basis. Bottomline growth has been buoyed mainly by strong improvement in net interest income as well as a significant fall in provisioning. operating margins have also shown an improvement in the June quarter.

SBI: Provisioning fever

Jul 24, 2003

SBI, the banking sector behemoth, has reported a 20% growth in its bottomline on the back of a marginal 3% rise in topline for the June quarter. SBI's strong bottomline performance for 1QFY04 was primarily on account of improvement in its operating margins and strong growth in other income. The bank has also significantly increased its provisioning in the June quarter, which led to some curtailment in the bottomline growth.

SBI: Outperforming peers

Jun 30, 2003

SBI, the country’s largest bank, announced its FY03 results on 19th June 2003. While there is not much to comment upon when one tries to analyse the results on the basis of the income statement provided, there is more to the performance as indicated in the bank’s analyst meet. A look at the key takeaways of SBI’s analyst meet, and the implications it has on the fundamentals of the bank going forward.

BOB: Business growth challenged

Jun 5, 2003

Bank of Baroda (BOB), one of the largest public sector banks in the country, reported robust results for FY03 with strong gains seen in its bottomline. BOB has reported a 42% growth in its bottomline, however, on an almost flat topline growth of 2%. The healthy performance of its bottomline can be mainly attributed to the fall in interest expenses and a strong growth in other income arising from sale of investments. The bank has also done well enough to control costs, thus improving upon its ope

OBC: Stress on efficiency…

May 26, 2003

Oriental Bank of Commerce (OBC) is one of the most profitable public sector banks in the country and has been one of the key beneficiaries of the re-rating of the banking sector. To put things in perspective OBC’s stock price has gained close to 145% in the last three months alone. One of the reasons for this optimism is the robust financial performance the bank has shown in FY03. We take an in depth look at the bank’s performance in FY03 and its prospects going forward.

Banking on banks?

May 21, 2003

Banking stocks have been on a joyride in the last few months. Investors who may have detected the banking story unfolding in its early stages must have laughed their way to their ‘banks’. In this article, we throw some light on the banking sector and what have been the key reasons for the recent eye-popping performance of the sector.

Corporation Bank FY03 net up 35%

May 14, 2003

Corporation Bank, one of the most efficient public sector banks in the country, has announced robust FY03 results. The bank has reported an 8% increase in its interest income, while its net profit has jumped by 35% in FY03. Performance in the March quarter has however been disappointing. For 4QFY03, net profits have grown by 4% while interest income has grown by 9%. Low net profit growth for the bank in the March quarter was mainly on account of higher operating expenses during the same period.


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