reports
Nick Smallwood
- Nick Smallwood
Indian banks/Legacy NPLs will finally be resolved
Indian banks are going through the final phase of their balance-sheet clean up. This completes a five-year process of purging legacy NPLs from the sector, and should see large public-sector banks return to profitability over the next 12 to 18 months. While we are positive on the sector's fundamental momentum, we observe that spreads are relatively tight. We also expect significant issuance over the next two years as 57% of hard-currency Indian bank bonds will mature by 2020.
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