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UWB: An attractive bait?

Sep 12, 2006

Established in 1907 as Satara Swadeshi Commercial Bank, United Western Bank (UWB) was converted into a scheduled commercial bank in 1951. With majority of the branch infrastructure in Maharashtra, the bank has considerable penetration in the rural segments of the state and offers ready infrastructure to financial entities looking to expand their scale in this region. While the public shareholding in the bank stood at 54% at the end of 1QFY07, SICOM is the principal shareholder with more than 10%

Housing Finance: An opportunity knocking?

Dec 22, 2004

Macroeconomic stability (or instability) and performance of the housing sector are inextricably linked. However, in contrast, while economies in South Asia have performed strongly in recent times, the consequent effect of this growth has failed to filter down to the housing sector. In India, which is the one of the most advanced economies in South Asia, the mortgage to GDP ratio (ratio of outstanding home loans to GDP) is estimated at 2%. In Pakistan, it is less than 0.5% and in other countries

IDBI: The way forward?

Dec 10, 2004

Challenging one of the most aggressive banks in the country i.e. ICICI Bank in the retail space and gaining market share is no mean task! But IDBI Bank, post its merger with parent company IDBI, seems to be gearing up to achieve this feat.

IDBI: All left to the merger

Nov 10, 2004

IDBI, the largest developmental finance company, had reported its full year FY04 (extended to 18 months) results yesterday. The bank's performance is not comparable with its FY03 results, however higher provisioning and stable operating margins have been the main highlights of the bank in the 18 month period ending September 2004, compared to FY03. On the other hand IDBI's topline saw sustained pressure as its September quarter results indicate. While topline fell by over 11% in the September qu

HDFC: Meeting investor expectations

Oct 25, 2004

HDFC, the leading housing finance company in the country, has announced its September quarter results. The company continues to post healthy growth in its bottomline on the back of strong improvement in net interest income as well as improvement in operating margins. Topline growth also continues to remain healthy.

IDBI: Merger gains

Aug 12, 2004

Nearly three years since the last mega merger in the banking sector, there is another mega merger on the cards and we are referring here to the merger announced between the largest developmental financial institution, IDBI, and one of the most efficient private sector banks in the country, IDBI Bank. After nearly a year of uncertainty the boards of both the entities finally agreed to a merger, but after a larger clean up (Rs 90 bn) of the balance sheet of the troubled IDBI.

HDFC: Will it maintain growth?

Jul 19, 2004

HDFC, the largest housing finance company in the country, has reported a strong 22% growth in its bottomline for 1QFY05, while its topline has grown by over 5%. A fall in interest expenses (consequently improving operating margins) has been the main reason for the improvement in bottomline. The improvement in operating margins has been achieved despite strong rise in operating expenses.

IDBI: Continued topline pressure

Oct 29, 2003

IDBI, the largest developmental finance institution in the country, has reported a disappointing September quarter performance. The institution has seen its topline fall by 16% in 2QFY04, while its bottomline has improved by 9%. The results are disappointing considering institution's encouraging performance in the June quarter of the current financial year. The 1HFY04 results have been salvaged to a certain extent by the June quarter results. For 1HFY04, while the institution's topline has falle

HDFC: Growing predictably

Oct 13, 2003

HDFC, the housing finance major, has reported September quarter results in line with expectations. It has announced a 22% net profit growth on the back of a 4% growth in topline on a YoY basis. The bottomline growth has been aided mainly by a fall in interest expenses (consequently improving operating margins). The improvement in operating margins has been achieved despite strong rise in operating expenses.

Identifying an FI stock: Do's and Don'ts

Sep 13, 2003

In Views on News, Equitymaster has tried to highlight here some factors one should keep in mind before investing in an Finance company. Know more

IDBI: Recovering giant

Aug 5, 2003

IDBI, the largest developmental finance institution in the country, continues to face topline pressure, while on the bottomline front, the performance showed continued improvement in the June quarter. The financial institution (FI) reported significant improvement in its operating margins. For 1QFY04, the FI has reported a 34% improvement in bottomline on the back of a 5% fall in topline. The institution's efforts at reducing capital costs are bearing fruits.

UTI Bank: 1QFY04 net up 45%

Jul 22, 2003

UTI Bank, one of the leading private sector banks, has reported a robust performance in the June quarter. The bank has witnessed a 18% growth in its topline while bottomline growth has been even better at 45%. UTI Bank's performance in the June quarter has been highlighted by the strong improvement in operating profits and consequently operating margins. While operational gains have aided bottomline growth, what is commendable about the bank's performance is the fact that bottomline has grown st

HDFC: Maintaining momentum

Jul 18, 2003

HDFC, the largest housing finance company in the country, has announced a 22% net profit growth in the June quarter. Topline growth has however disappointed, growing by a marginal 3% during the same period. Bottomline growth has been mainly aided by significant improvement in operating margins (up 420 basis points).

IDBI: Topline disappoints

May 8, 2003

IDBI, has reported lackluster topline numbers for FY03. However the financial institution (FI) reported improvement in operating margins, thus helping reduce the fall in net profits. For FY03, the FI has reported a 5% fall in bottomline on the back of a 6% fall in topline. Operating margins, on the other hand, have improved considerably by nearly 600 basis points.

HDFC: Competition blues

May 7, 2003

HDFC, the largest housing finance company in the country, announced its FY03 results which showed a 19% growth in bottomline while its topline grew by a lower 10%. For 4QFY03 the company reported a 16% growth in bottomline while its topline grew by 9%. While it would seem that the topline and especially the bottomline growth has slowed down, we must point out that compared to its earlier quarters, its performance in 4QFY03 must be considered in light of a higher base. The company has also report

Banks: Analyse them...

Jan 21, 2003

It has been a dream run for banking scrips on the stockmarkets in the last three months. The gains have been irrespective of their background (private or PSU). We have listed a few prominent gainers and have tried to analyse the reasons for this change in perception regarding the banking sector.

IDBI: Volatility persists

Oct 30, 2002

Industrial Development Bank of India (IDBI) is experiencing considerable volatility in Income from operations, which is affecting quarterly results. The financials, QoQ, have shown sharp improvement. September '02 quarter numbers, YoY, are a mirror image of the performance in the first quarter. On the other hand, interest expense has shown steady a decline.

"The focus of the bank has been on bottomline and not market share."

Aug 17, 2002

In an interview with Equitymaster, Mr. Kumar spoke about the trend in the retail banking industry (home loans in particular) and IDBI Bank’s strategies to become a premium bank in the next 2-3 years.

IFCI: Further deterioration

Aug 2, 2002

The troubled institution, IFCI, has expanded its net loss in June quarter to Rs 2.2 bn (0.3 bn in 1QFY02). The financial institution had reported a net loss of Rs 8.9 bn for the full year ended March 2002. Problems of adequate capital and challenging prospects in the financial market has impacted IFCI's quarterly performance.

IDBI: Dismal performance

Jul 29, 2002

IDBI's financials continued to bleed during the first quarter of FY03. The financial institution has reported a steep 79% decline in profits and 23% drop in interest income. Low credit offtake and pressure on margins have hit IDBI's first quarter performance.

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