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ING Vysya: Banking on ING

Mar 29, 2005

Dismal performance for four consecutive quarters undoubtedly warrants some caution on the part of investors and in case of ING Vysya Bank, the poor streak shows no signs of abating. The bank had a successful rights issue in Feb 2005 at a record discount of 90% to the market price, wherein three shares of the bank were offered against each share held, at Rs 45 each. Although the rights issue amplified the net worth of the bank by 31%, the consecutive losses have created a dent on its reserves.

Bank of Rajasthan: Overstated valuations?

Dec 27, 2004

Foreign banks seem keen to get a foothold on the Indian soil. The 20% appreciation in the Bank of Rajasthan (BoR) scrip last Thursday (23rd Dec), was in response to the news that Paris based Societe Generale is planning to pick up a 14.5% stake in the bank. According to the bank’s management, the expected price of acquisition is Rs 85-95 per share. Societe Generale, which has two branches in India, is presumably hoping to grow its business and market share.

ING Vysya Bank: Exercising ‘rights’

Dec 20, 2004

The ING Vysya Bank scrip was on fire last week, with the private bank offering rights shares at a price of Rs 45, at a point when the scrip was ruling over Rs 500. The announcement - possibly the biggest discount on rights issue offered by an entity, pushed the stock by 19% (on Friday).

ING Vysya: In losses again

Oct 28, 2004

Continuing with its poor performance streak, ING Vysya Bank, on the back of losses in its treasury income has reported losses for 2QFY05. The bank's core business has, however, shown improvement in the form of growth in net interest income. For 2QFY05, while the bank has reported a 7% rise in the topline, the bottomline has turned negative. Lower provisioning and a tax writeback has ensured that the bank's losses were limited in the September quarter.

IDBI Bank: No looking back

Oct 23, 2003

IDBI Bank, one of the new generation private sector banks, has announced robust results for the September quarter. The bank has reported a strong bottomline growth of 125% on the back of a 20% rise in topline in the September quarter on a YoY basis. The performance of the bank in 1HFY04 is similar, with strong growth reported both in topline as well as the bottomline. Bottomline growth has been mainly aided by a fall in interest expenses as well as a strong growth in other income.

ING Vysya: Internal focus

Oct 21, 2003

ING Vysya Bank, one of the largest banks in the southern region, has reported encouraging performance of the September quarter as well as for the 1HFY04. While the bank has reported a marginal fall in topline the bottomline has risen by nearly 40% in the September quarter on a YoY basis. The bank has been able to reduce its interest expenses that have further helped it improve its net interest income as well as margins. Strong growth in other income too has aided the bottomline growth.

ING Vysya Bank: Reinvigorated focus

Sep 10, 2003

The Indian banking sector is in a phase of transition and both private as well as public sector banks are leading the charge. We at Equitymaster believe that consolidation may be the long-term trend that is likely to emerge in the sector. This is more likely as banking sector regulations are ease and government's role in the banking sector cease to exist, spurring consolidation. In this light (of consolidation and larger MNC role in the Indian banking sector) we look at a bank that has reemerged

Vysya Bank: Operating loss widens

Aug 21, 2002

Vysya Bank has reported dismal performance again with 8% drop in interest income and higher operating loss of Rs 301 m. The bank's net profits however, rose by over 10% due to higher other income and a 41% drop in provisions for non-performing assets.

Vysya Bank: Disappointing performance

Jun 14, 2002

Vysya Bank continued to report dismal performance with a marginal 3% rise in interest income and flat earnings for the fourth quarter. The bank's fee based income however, maintained its strong growth of over 100%.

UTI Bank: Asset quality is the key

May 4, 2002

Promoted by a group of institutions (UTI, LIC and GIC) in 1994, UTI Bank is the first private bank in the post liberalization era. It is one of the fastest growing private banks in India. Over the last six years, the bank’s interest income has grown at a CAGR of 47% backed by its strong relationship with its promoting institutions.

Banking M&As: Set to flourish

May 4, 2002

The Reserve Bank of India’s (RBI) recent clarification for enhancing the FDI limit to 49% in private banking sector has sparked a rally in private banking stocks. The RBI’s announcement is likely to spur M&A activity in the sector and would push foreign banks for considering taking stakes in domestic private banks.

Vysya Bank: Business under pressure

Apr 12, 2002

Vysya Bank has been in the limelight over the past few months. The bank's stock price witnessed a sharp rise of over 80% in the last three months to Rs 244 currently. Expectations of ING increasing its stake in the bank at premium valuations fueled the buying interest in the stock. The Dutch banking major, Bank Brussels Lambert (subsidiary of ING group) holds a 20% stake in the bank. It aims to increase the stake further to 49% and is awaiting the RBI's approval.

Private Banks: Will M&A zing last?

Mar 28, 2002

Private banking stocks have rallied in the last three months and most of them are now trading near their 52-week highs. On the other hand, the Sensex declined by 3%, since the beginning of the current fiscal. Expectation of pick up in consolidation activity in the sector has injected buying interest in the sector.

Banking: Surrounding M&A rumours

Aug 24, 2001

The private banking sector is witnessing rapid consolidation to maximize synergies. The markets are already speculating a new round of consolidation with the banking behemoths out on the street with their shopping bags.

Bank of Punjab: A dividend play

Jun 27, 2001

Bank of Punjab (BOP), a new private sector bank, declared a marginal 5% rise in profits on the back of a huge 57% jump in provisioning amount in FY01. The bank's topline however grew sharply by 30%.

Will the juggernaut roll along?

Apr 15, 2000

Talk about size. State Bank of India (SBI) is India's largest bank in terms of deposits, advances and investments and has a branch network of nearly 9,000 branches. In fact it is the largest bank in the world in terms of branches. It controls 20% of India's loans and deposits business and is a major player in areas such as treasury, foreign exchange, mutual funds and investment banking. The bank also has the largest number of foreign branches with 52

Vysya Bank goes hi-tech.

Apr 12, 2000

In a major initiative, Vysya Bank has announced that it is earmarking Rs 600 m for setting up a centralised online banking project which will be in place by the end of the next year.

Lower interest rates maybe around the corner

Mar 15, 2000

The Reserve Bank of India (RBI) is reported to be considering a 1% cut in the bank rate along with a reduction in the cash reserve ratio (CRR). The moves are aimed at improving credit availability and the attractiveness of government bonds.

RBI Governor hints at lower interest rates

Feb 4, 2000

The Reserve Bank of India governor has stated that current economic conditions were conducive for a cut in interest rates.

Reserve Bank prepares to take on weak banks

Jan 24, 2000

The Reserve Bank of India (RBI) is in the process of preparing a methodology by way of which it plans to deal with impending bank failure. The methodology, as reported by a leading financial daily, has been mentioned below.

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