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Global Trust Bank: FY04 numbers

Aug 10, 2004

Global Trust Bank (GTB) approved the audited accounts for FY04 at its meeting held yesterday. The accounts were finalized in the backdrop of the proposed draft scheme of amalgamation with Oriental Bank of Commerce (OBC).

GTB: Shareholders the ultimate losers

Jul 26, 2004

One event the whole banking fraternity and the common man fears the most is the failure of a bank. The moratorium on Global Trust Bank’s (GTB) activities is one such incident that has shaken up the banking sector, and with it, the confidence of a large number of investors and depositors. The failure of any bank is a very serious issue and can have a profound impact on the financial sector and its incumbents as a whole.

HDFC Bank: Where to from here?

Apr 15, 2003

HDFC Bank, has reported a strong fourth quarter performance in FY03 with a 29% rise in net profits while its interest income has increased by nearly 21%. The FY03 performance has been even better with a 31% rise in net profit while its topline has grown by nearly 19%.

Banking: Momentous FY03

Apr 3, 2003

It has been a momentous FY03 for the banking sector both in terms of structural changes as well as its performance on the stocks markets. The parliament passed the ’Securitisation and Reconstruction of financial assets and Enforcement of Security Interest Act 2002’. This new law gives sweeping powers to the lenders over borrowers in order to recover their dues. The law allows banks to take over the assets of the defaulting borrowers and to either dispose them off or hand it over to an asset reco

UTI Bank: Corporates' bring in the cream

Oct 24, 2002

UTI Bank's strong growth in FY03 continues. For 2QFY03 the bank reported a significant 43% profit growth led by 34% growth in interest income. Higher growth in earnings was achieved despite a 40% hike in provisions for non-performing assets.

HDFC Bank: OPM under pressure

Oct 18, 2002

HDFC Bank continues with its stellar performance in the second quarter ended September 2002. Fueled by strong focus on retail banking, interest income grew by 17% and profits jumped over 29% YoY for 2QFY03. However, the performance was not as impressive as its June quarter.

Private Banks: Growth engine slowdown

Sep 2, 2002

The growth rate of private banking sector slowed down in the first quarter of the current fiscal. A 26% dip in fee based income trimmed down the overall growth rates of the sector. The sector's first quarter income from operations was up by 15% and profits were higher by 17%. We have included four major new generation private banks, HDFC Bank, UTI Bank, IDBI Bank and Global Trust Bank in our sector study. ICICI Bank has been excluded, as after the merger of ICICI, the bank's financials are not c

GTB: Profits dip again

Aug 6, 2002

Global Trust Bank (GTB) has again reported a dismal performance for the quarter ended June 2002. The bank's first quarter profits declined by over 20% and interest income was also down by 16%. Its net interest income however, witnessed a growth of 28% due to a steep reduction in interest cost.

ICICI Bank: Betting on retail

Jul 31, 2002

ICICI Bank has reported its first merged performance with its parent ICICI for the quarter ended June 2002. The bank's 1QFY03 results also include numbers of ICICI Personal Financial Services and ICICI Capital Services, which have been amalgamated with the bank with effect from March 30, 2002. The financials for the quarter are therefore not comparable with the previous quarter.

HDFC Bank: On a growth spree

Jul 17, 2002

HDFC Bank has once again reported stellar performance for the first quarter ended June 2002. Fueled by its strong focus on retail banking, the bank's interest income grew by 23% and profits jumped by 33%, YoY. The bank also managed to improve its operating margins through cost control and lower interest cost.

UTI Bank: Lower provisions fuel growth

Jul 10, 2002

UTI Bank reported splendid performance for the quarter ended June 2002 with over 40% rise in profits and 26% growth in interest income. Higher growth in earnings was achieved due to 95% decline in provisions for non-performing assets.

GTB: Losing sheen

Jul 1, 2002

Global Trust Bank's (GTB) pre-tax loss intensified in the fourth quarter with a steep 37% drop in income from operations. The bank however, managed to post profits by taking credit of deferred tax assets of Rs 750 m. Loss in investor confidence impacted the bank's performance in FY02.

Private banks: Margins dip

Jun 26, 2002

Private banking sector maintained a strong earnings growth in FY02. Bottomline growth of private banks was fueled by an exponential rise in fee-based income, which accounted for over 20% of total income. We have included four major new generation private banks, ICICI Bank, HDFC Bank, UTI Bank and IDBI Bank in our sector study.

ICICI Bank: Coming clean

May 7, 2002

ICICI Bank declared better than expected fourth quarter performance despite stiff pressure on margins. The bank’s fourth quarter profits increased by 13%, largely driven by treasury gains. As the merger has come into effect on March 30, 2002, ICICI Bank’s profits for FY02 includes only two days profits of ICICI and its merged subsidiaries.

ICICI Bank: FY02 net up 60%

May 3, 2002

ICICI Bank has reported its FY02 results including 2 days financial performance of its parent ICICI. As the merger has come into effect only on March 30, 2002, ICICI Bank's profit of Rs 2.6 bn for FY02 includes only two days profit of ICICI and its merging subsidiaries, amounting to about Rs 80 m. The profit of FY02 for the bank is therefore largely comparable to previous year.

UTI Bank: OPM drives profits

May 2, 2002

UTI Bank continued its growth spree in the fourth quarter, with 51% rise in earnings and a 28% growth in interest income. The bank's full year profits also recorded a sharp increase of 56% with 33% growth in topline.

HDFC Bank: Maintains growth pace

Apr 15, 2002

HDFC Bank has reported a strong fourth quarter performance with 27% rise in interest income and 38% jump in net profits. The bank's better than expected performance was driven by exponential rise in other income and lower tax provisions.

UTI Bank: Challenges ahead

Apr 8, 2002

UTI Bank, one of the fastest growing new private sector banks, maintained its high growth rates for the first nine months of FY02. Over 69% rise in investment income and three-fold jump in fee-based income pushed up the bank’s earnings growth by 58%. (Over the last six years, the bank’s interest income and earnings have grown at a CAGR of 50%).

HDFC Bank: On growth spree

Apr 5, 2002

HDFC Bank has maintained its growth in the first nine months of FY02. A 43% jump in net income was fueled by a sharp rise in fee-based income and control on operating expenses. The bank’s operating margins however, declined by 300 basis points due to higher interest cost.

Foreign banks: A formidable lot

Mar 18, 2002

Indian private banks posted commendable performance in FY01. The sector’s interest income jumped by 54% and earnings grew by 25%. Foreign banks, operating in India too followed the private banks with sparkling financial performance. Most of these banks leveraged other income growth to drive earnings.

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