Summary Standard Chartered Bank - India Branches - Company Profile and SWOT Analysis, 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 360˚ view of the company. Key Highlights Standard Chartered Bank - India Branches (SCB India), a subsidiary of Standard Chartered Plc, is a provider of banking and related financial solutions to individuals, business, ...
HDFC Bank: Earnings in line; Core PPoP growth and margin improve (HDFCB IN, Mkt Cap USD97.5b, CMP INR1441, TP INR1800, 25% Upside, Buy) Asset quality robust; restructured book declines to 53bp HDFC Bank (HDFCB) reported an in-line quarter, with PAT up 20% YoY, aided by a pick-up in NII growth due to 10bp QoQ expansion in margin. PPoP growth remained modest at 10% YoY, adversely impacted by a treasury loss of INR2.5b. However, Core PPoP growth was healthy at ~17% YoY in 2QFY23. Business gro...
STATE BANK OF INDIA: Treasury drag behind; earnings set to soar (SBIN IN, Mkt Cap USD59.8b, CMP INR531, TP INR625, 18% Upside, Buy) SBIN reported a 14% YoY growth in core PPOP. However, higher treasury losses (INR65.5b) dented earnings, which declined 7% YoY to INR60.7b. NII stood a tad weaker. However, the outlook remains encouraging as the bank benefits from the re-pricing of its floating rate loan portfolio, amounting to 74% of total loans. We expect NII to grow at an average 16% over FY...
HDFC reported a PAT of INR36.7b in 1QFY23 (8% miss), up 22% YoY. It reported a NIM compression of ~10bp YoY and 30bp QoQ at 3.4%. Credit costs rose ~7bp QoQ to ~36bp. Disbursements in the Individual segment grew 66% YoY to ~INR420b. Individual/total AUM rose 20%/17% YoY. The management guided at a strong pipeline in Non-Individual segment, which will translate into healthy AUM growth. With the merger announced, taking a view in isolation is difficult, but we feel that HDFC continues to have ...
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...
The general evaluation of STATE 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 7, 2022, the closing pr...
HDFC BANK: Earnings/PPOP in line; asset quality robust (HDFCB IN, Mkt Cap USD124b, CMP INR1686, TP INR2000, 19% Upside, Buy) Restructuring increased to 1.5% of loans; contingent provision provides comfort HDFCB reported an inline quarter with NII/PPoP growth of 12%/14% YoY and PAT growth of 18% YoY to INR88.3b (inline). Profitability came in strong despite creating an additional contingent provision of INR12b, thus taking the total buffer to ~INR78b (~0.65% of loans). The bank witnessed...
(SBIN IN, Mkt Cap USD48.8b, CMP INR407, TP INR600, 47% Upside, Buy) SBIN has demonstrated a strong improvement in asset quality, with GNPAs declining by 43% over the past three years, while PCR increased to 68% currently from 40% four years back. Fresh slippages moderated sharply to 1.2% in FY21 (2.5% in 1QFY22), lower v/s many of its private peers. AUCA book stood at INR1.72t - higher than the GNPL pool, with recoveries in the 6-11% range. Over the past five years, the bank has reco...
HDFC BANK: RBI lifts restriction for sourcing of new credit cards (HDFCB IN, Mkt Cap USD112.7b, CMP INR1515, TP INR1800, 19% Upside, Buy) , the Reserve Bank of India (RBI) have partially lifted the restrictions placed on HDFC Bank in Dec’20 and have allowed the bank to source new credit cards. However, the restrictions on new digital application launches will continue. The RBI move addresses the key overhang as HDFC Bank is the largest credit card issuer in the country and credit card seg...
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....
STATE BANK OF INDIA: Gaining momentum in earnings; asset quality outlook strong (SBIN IN, Mkt Cap USD55b, CMP INR457, TP INR600, 31% Upside, Buy) SMA/Restructured portfolio under tight control State Bank of India (SBIN) reported a steady quarter, with an earnings beat of 12% on MOSLE. This was aided by controlled provisions despite a challenging environment. Core operating performance was in-line. Asset quality ratios deteriorated marginally on elevated slippage in Retail/SME. However, ...
HDFC BANK (IN), a company active in the Money Center Banks industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 4 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date February 19, 2021, the closing price was INR 1,539.10 and its poten...
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