the two important restructurings for the quarter apparently added almost 500 crores each and Net Interet income seems to have flashed a good INR 29 bln number. Reports are awaited and likely to be the reconfrimation of their consolidation around the ongoing NPL boom as they have improved net NPAs and avoided strictures from S&P even as S&P has derated the sector outlook for 3 out of 10 institutions while sounding the horn on India's sovereign rating 

Q4 net restructured assets are INR 42.7 bln and the scrips intra day fall was mesmerising leaving the banknifty and the sector none the wiser for such sterling results that have taken the bank up after a long weinding road for the coming new competition in which right now the RBI intends to force the new licensees to build on Tier 5 and 6 towns and rural India franchises

Posted via email from The India Investment Post

Savings Bank Deposits grew 108% on year even as Assets grew to INR 750 bln or $15 bln but the growth of Net IUnterest Income and Profits was neck and neck at 30%. The "but" in there is from the expectations of the banks followers for the bank to grow aggressively in size as Indusind catches up on the strength of the retail book and BRA modifications run their last mile this year. Kotak has also stepped off the flatlined escalator and started climbing back in prospects so we'll have to look to results there. 

The NII was INR 4.5 bln and Profits 2.72 bln for the quarter. Year end grrowth data is as impressive as could be as was showing in the management confidence in the results post conference

NIM is 2.8% and NPAs (Net) 0.05%

Posted via email from The India Investment Post

Cement  Dispatches up 8% on month and suddenly the below 5% core inflation number is showin g in the growth in Indusind profits by near 40% to INR2.31 bln Thoughhgher dispatches could not support the prev Quarter EBITDA at Ambuja cement and JPassociates continues to languish in the new economic set up, Indus ind itself continues to surprise financially after investors ignored vestigial baggage at the top and in the boardroom to increase their valuation of the company and grow the banks CAR earlier in February. The bank seems to have grown some green shoots in other industry clients moving away from the base provided by the hinduja owned Ashok leyland as  it refashions business boundaries with other newcomer Religare in lending, broking and even investment banking per se as corporate like to figure outt he enigma of ramesh sobti and Oil and gold trades move on to harder investments in India sans retail FDI and sans Kingfisher

A roadblock close ahead, tied to Indias myriad concerns with internal fiscal andp political security is the fact that Indian banks and PE are hardly encouraged to go with Indian corporates and help them bid for Foreign resources and industry assets, the last one in Ssangyong's M&M sale a far distant dream

Recent research from Fairwealth parks IIB to a retail book growth of 30% each in FY13 and FY14 to INR 250 bln, and for all practical purposes its overall book will still be close to INR 500 bln by then even with the emphasis on retail assets for growth. CV financing continues to bleed NPLs while adding strnegth to the book While CASA is likely to have improved further from 25% last quarter, its 300 new branches should look at a higher volume of business than currently estimated by research. A branch network of 650 branches should help NIMS and also Capital raising from larger investors as it sheds the label of mid cap and engineers a grwoth in book already stressed ( to be confirmed on avlblty of full financials) by the growth in book to less than 11%

Posted via email from The India Investment Post

HDFC Bank's $290.6 mln in profits and $678 mln in Net Interest income more or less echo Q3 December performance with other income also static at $298 mln or INR 14.9 bln, PAT INR 14.53 BLN and Net Interest Income INR33.90 bln Thus there is no undue increase in NPAs nor any hit to NIMs in the tumultous last three months to the fiscal even as india Inc managed to close the fiscal at 17% credit growth and more seemingly in the last week. 

NBFC exposure t o Gold loans has been capped at 7.5% but HDFC Bank depends on its own originated business and now over 200 odd rural loan melas for auto and personal loans. Also whitel label ATM business may find a good competitive spirit for the Indian "ATM building Industry" fromt he Indian example in entrepreneurship with local values and global investing.

NII has grown sequentially by around 9% and Fee Income by 5%, Net Margin being constant to rpoduce the same level of profits.

Posted via email from The India Investment Post

Indian Exports for the month crossed $32.5 bln as required to cross $300 bln in Fiscal data for Exports. Imports however grew even faster to $50 bln with Oil Imports crossing $150 bln for the year though Gold imports also crossed $50 bln to contribute to the large $185 bln deficit.

Posted via email from The India Investment Post

CD rates for 3 months to 100 days crossed 10% helping bankers recover lost ground from a 13.4% growth rate tone week ago to above 17.4% growth rate in Deposits on the last day of the fiscal 2011-12 at INR 61.12 Tln adding more than 2 T in a week  whileCD rates have climbed further in April. The jump in EOP deposits was helped both by friendly Corp Treasuries and bank pull thru improved rates. Credit growth was already at more than 17% to just below INR 45 T

Posted via email from The India Investment Post

It just hit me that with the fixed Income markets moving so tenuously, the yields of 8.44% ruling on 10?Y today will likely be wiped out within2 weeks of the trading after a 25 bp rate cut, as markets also expect yuields to go back to even 9% and RB I unliky to follow up with OmOs so diligently after the rate cut. 

The Rupee fortunately has a lot of head room in the new range , coming in to policy week at above 51, with March GDP likely to stay near 6% than 6.9%

Posted via email from The India Investment Post