The general evaluation of BANK OF INDIA (IN), a company active in the Money Center Banks industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date January 28, 2022, the closing price w...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Summary Marketline's Corporation Bank Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Corporation Bank since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and...
Summary Marketline's Oriental Bank of Commerce Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Oriental Bank of Commerce since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown ...
Summary Oriental Bank of Commerce - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360Ëš view of the company. Key Highlights Oriental Bank of Commerce (OBC) provides banking and treasury services to individual customers, agricultural sector, and SMEs, and MSMEs, government sector, small-scale industries i...
Q2FY20 results highlights Bank of India announced PAT of Rs2.7bn versus our and street expectation of a loss. The beat was on account of higher than expected loan yields. Loan growth remains weak and stress continues to be high. The bank has not shifted to the new tax rate. Slippage declined to 32bn from 36bn qoq. Recoveries were lower qoq but the bank wrote-off loans of Rs25bn versus Rs7bn qoq. GNPAs declined marginally by 1% qoq due to the high write-off and stood at 16.3% of loans versus16....
Q1FY20 results BOI reported PAT of Rs2.4bn against our expectation of loss due to lower provisions. PAT grew 155% yoy (on a low base) but declined 4% qoq. Slippage rose qoq from Rs31bn to Rs37bn and was higher than management guidance of Rs25bn. Loans growth remained weak at 2% yoy. Domestic loan growth was higher at 12% while overseas loans declined 32%. Within domestic, retail grew 16% and corporate grew 18%. NIM declined 26bps to 2.67% due to lower yield on assets while cost of funds re...
Q4FY19 results highlights BOI reported PAT of Rs2.5bn versus our expectation of a loss. The bank had made a loss yoy and qoq. Earnings rebounded (off a weak base) with a strong sequential pick-up in margins, sharp decline in credit cost and qoq decline in slippage. Most importantly, CETI improved to 11% from 9.1% qoq and is now higher than SBI’s and YES Bank’s due to the huge capital infusion from the government. The bank had a provisioning divergence of Rs14bn for FY18. Slippage of Rs31bn d...
Corporation Bank - Strategy, SWOT and Corporate Finance Report Summary Corporation Bank - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360Ëš view of the company. Key Highlights Corporation Bank (CB) is a provider of banking and related financial solutions. Its offerings include savings, current, recurr...
Q3FY19 results highlights BoI reported its highest ever loss of Rs47bn (loss in 2Q was 11.5bn) driven by high loan loss provisions. The bank made provisions of Rs56bn on NPL+NCLT accounts due to uncertainty of recovery. The bank also had to make divergence related provisions of 14bn. Slippage of Rs43bn was higher than Rs38bn qoq but most of it was on account of IL&FS. Of the total exposure of Rs36bn to ILFS, Rs24bn slipped. Ex ILFS slippage was Rs19bn, lowest since 3Q14. Due to sale to ARC...
Opportunity in EM countries Our cautious outlook and expectation for continued downward pressure on global equities remains intact. Broad global indexes (MSCI ACWI, ACWI ex-U.S., EAFE, and EM) are all trading within patterns of lower highs and lower lows, leading us to believe the most likely scenario is that this near-term bounce is likely nothing more than a countertrend rally before longer-term downtrends reassert themselves. • Opportunity in EM. Both a top-down and bottoms-up analysis po...
Q1FY19 results highlights BoI’s slippage of Rs62bn remained elevated even on a high base. Over 4Q17-3Q18 BoI’s slippage ranged from Rs18-40bn. In 1Q, the slippage run rate is higher. Also BoI has used the MSME dispensation given by RBI without which slippage would be higher by Rs10bn. Total reduction to GNPAs of Rs84bn was higher than slippage but recoveries were lower than write-offs. Write off in 1Q was Rs39bn against Rs20bn in the last two quarters. GNPAs stood at 16.7% of total loans. Bo...
BoI reported a higher than expected loss of Rs40bn on the back elevated slippages. Pre-tax loss was even higher at Rs55bn and the bank had a tax write back of Rs15bn. While slippage was much higher than expected, gross NPLs declined marginally qoq as the bank recovered Rs92.4bn of loans issued against SBLCs which were downgraded to NPLs in 3Q. The bank had communicated (through the press) that it had made this big recovery, much before the actual result was announced, so the recovery does not ...
Bank of India: Weak operating performance; asset quality improves sequentially (boi IN, Mkt Cap USD2.9b, CMP INR108, TP INR112, 4% Upside, Neutral) BOI reported a loss of INR39.7b, as provisions soared to INR66.7b (highest in eight quarters), led by elevated NPA provisions of INR67b (largely related to the RBI’s revised stressed asset guidelines). NII declined 26% YoY (10% miss, weighed down by INR10b of interest reversals), and other income fell 22% YoY due to treasury losses. NIM shran...
Moody's Investors Service says that the final stage of a multiyear initiative by India's central bank to push banks to recognize problem assets more accurately will reduce profitability for the sector in the near term, but produce benefits over the longer term. "While this push will ...
Bank of India: Weak operating performance; asset quality continues to deteriorate (Boi IN, Mkt Cap USD4.4b, CMP INR145, TP INR150, 5% Upside, Neutral) Click here to access detailed report BOI reported a loss of INR23.4b, as provisions soared to INR4.9b (highest in seven quarters), led by elevated NPA provisions of INR4.4b (largely related to NCLT and divergence accounts) and elevated MTM provisions on investments. NII fell 14% QoQ (13% miss due to ~INR4b of interest reversals) and oth...
Moody's Investors Service says that the India government's detailing of how much capital each public sector bank will receive in the financial year ending March 2018 is credit positive for the sector. "This announcement is a credit positive for all public sector banks, and especially...
FINANCIAL INSTITUTIONS CREDIT OPINION 11 January 2018 Update RATINGS Bank of India Domicile India Long Term Debt (P)Baa3 Type Senior Unsecured MTN - Fgn Curr Outlook Not Assigned Long Term Deposit Baa3 Type LT Bank Deposits - Fgn Curr Outlook Stable Please see theÂ
Q2FY18 results BoI reported PAT of Rs1.79bn against expectation of a loss. The beat was driven by income on IT refund to the tune of Rs.2bn, and higher trading gains that rose 15% qoq. Excluding trading gains, the bank continued to post a pre-tax loss. Core loss for 2Q18 was Rs6bn versus Rs5bn qoq and Rs12bn yoy. Slippages declined for a second quarter in a row leading to a 3% decline in NPLs qoq. Gross NPLs account for 12.6% of loans. Slippages declined from Rs40bn to Rs21bn moderating to 2...
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