Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

Thematic (Sector/Industry)

The question is somewhat rhetorical. Perhaps the customer experience will be better at private banks than government banks, in India. The story may be similar for capital levels and non-performing loans (NPLs). But the figures are not completely one-sided. We believe that the long-held view that India’s private banks are so incredibly superior to India’s government banks begins to fall flat when we examine the pace of NPL formation. This applies not only to new NPLs from worsening credit…

The question is somewhat rhetorical. Perhaps the customer experience will be better at private banks than government banks, in India. The story may be similar for capital levels and non-performing loans (NPLs). But the figures are not completely one-sided. We believe that the long-held view that India’s private banks are so incredibly superior to India’s government banks begins to fall flat when we examine the pace of NPL formation. This applies not only to new NPLs from worsening credit…

India Banks – Are Private Banks Really Better than Government Banks?

It was always a stretch that the Reserve Bank of India’s (RBI) INR2.1 trillion could well recapitalise the main government-owned banks. At the time of that announcement, there was euphoria over the renewed and positive outlook of these ailing, fledgling government banks. And still the figures did not add up then and they add up even less now. Besides hardly covering the non-performing loans (NPLs) and restructured loans of targeted banks, the recapitalization plan did not require a change in…

It was always a stretch that the Reserve Bank of India’s (RBI) INR2.1 trillion could well recapitalise the main government-owned banks. At the time of that announcement, there was euphoria over the renewed and positive outlook of these ailing, fledgling government banks. And still the figures did not add up then and they add up even less now. Besides hardly covering the non-performing loans (NPLs) and restructured loans of targeted banks, the recapitalization plan did not require a change in…

India – Recap Euphoria, Going, Going, Gone

Asia focused research insights & advisory, Asia Advisors

Vinay Patel

Asia focused research insights & advisory

Asia Advisors

Asia Advisors is an independent financial advisory and research firm working closely with corporates and institutions to provide consulting solutions & research insights. We provide advisory services including capital solutions, business strategy and investment insights.
Firm is headed by Vinay Patel who has close to two decades of experience in research and business development at large, international investment banks such as HSBC and ICICI Securities. Led research efforts in areas of Macroeconomics, Asset Allocation & Investment Strategy for close to a decade in global & domestic research teams. As a business head in Singapore, advised top global investment management firms & Portfolio managers in Asia for India related investments.
Vinay was recently joined by Swapnil Manish, an investment banker and ex-ecommerce entrepreneur with more than 12 years of experience. Swapnil was the TMT banker at BNP Paribas and was part of several large M&A and ECM transactions (Bharti-Zain, Bharti Infratel IPO, Schneider-Zicom among several others). He's also had a stint as an ecommerce entrepreneur having launched & led Mumbai's first online grocery player.

After the discovery of PNB (Punjab National Bank) loan fraud in mid-Feb, worth Rs114bn (now revised to Rs127bn), there is a spate of bad news regarding more loan frauds in the system and several PSU banks have disclosed scams now crossing Rs60bn in the two weeks after the PNB case. The figure is expected to climb as the government has asked banks to carry out a forensic audit of all NPLs above Rs500m. Banks have also been asked to do system checks and adopt best practices within a matter of 15…

After the discovery of PNB (Punjab National Bank) loan fraud in mid-Feb, worth Rs114bn (now revised to Rs127bn), there is a spate of bad news regarding more loan frauds in the system and several PSU banks have disclosed scams now crossing Rs60bn in the two weeks after the PNB case. The figure is expected to climb as the government has asked banks to carry out a forensic audit of all NPLs above Rs500m. Banks have also been asked to do system checks and adopt best practices within a matter of 15…

Why Banks May Prefer A Loan Fraud Over NPL? Race to Discover Loan Frauds Can Create Policy Paralysis

India - Politics, Industrials, IT and Large Caps, EMAlpha

Pankaj Sharma

India - Politics, Industrials, IT and Large Caps

<h2>PSU Banks continue to report BAD NEWS on NPAs</h2>Just when there were hopes that finally, things may be getting better for Indian Banking System on Poor Asset Quality, some of the recent results indicate that it is still too early to think so.<ol><li>
<a href="https://www.smartkarma.com/entities/160" target="_blank" data-smartkarma-citation="entities:160:1">State Bank Of India (SBIN IN)</a> posts Q3 net loss of Rs18.87 bn. The nation’s largest lender saw its net bad loans ratio spiking to 5.61% of advances, from 4.24% during the third quarter of 2017-18. The gross dud assets ratio jumped meanwhile from 7.23% to 10.35%…</li></ol>

PSU Banks continue to report BAD NEWS on NPAsJust when there were hopes that finally, things may be getting better for Indian Banking System on Poor Asset Quality, some of the recent results indicate that it is still too early to think so.
State Bank Of India (SBIN IN) posts Q3 net loss of Rs18.87 bn. The nation’s largest lender saw its net bad loans ratio spiking to 5.61% of advances, from 4.24% during the third quarter of 2017-18. The gross dud assets ratio jumped meanwhile from 7.23% to 10.35%…

India: Is Banking System 'Out of the Woods' on Bad Loans? 3Q Results of PSU Banks Says Not Yet!

Silver Point

Thomas J. Monaco

Silver Point is a boutique research firm that focuses on the broader financial services sector, with a particular focus on troubled institutions globally. 

Asia Ex Japan

* The Indian government removed the biggest tail risk at SOE banks with its first tranche re-cap announcement, enabling the sector to take the necessary haircuts on its bloated NPL balances. State Bank of India (SBIN.IN) and Bank of Baroda (BOB.IN) are very well placed.* Another capital infusion is scheduled in FY20 which should further aid in addressing SOE bank provisioning needs. * No announcement of a consolidation plan with the weaker SOE banks came with the capital allocation plan.…

* The Indian government removed the biggest tail risk at SOE banks with its first tranche re-cap announcement, enabling the sector to take the necessary haircuts on its bloated NPL balances. State Bank of India (SBIN.IN) and Bank of Baroda (BOB.IN) are very well placed.* Another capital infusion is scheduled in FY20 which should further aid in addressing SOE bank provisioning needs. * No announcement of a consolidation plan with the weaker SOE banks came with the capital allocation plan.…

Indian SOE Banks – Positive/Massive Front-Ended Re-Cap Occurs

India

Bank of Baroda owns and operates commercial banks in India.  The Group's banks provide the traditional forms of banking services, including CD's, Credit Card services and a variety of car loans, in addition to gold banking and a range of insurance services.  The Group also owns IBU International Finance Limited, an international banking company in Hong Kong.

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Bank Of Baroda (BOB IN)

India Banks – Are Private Banks Really Better than Government Banks?

The question is somewhat rhetorical. Perhaps the customer experience will be better at private banks than government banks, in India. The story may...

Daniel Tabbush

India – Recap Euphoria, Going, Going, Gone

It was always a stretch that the Reserve Bank of India’s (RBI) INR2.1 trillion could well recapitalise the main government-owned banks. At the time...

Daniel Tabbush

Why Banks May Prefer A Loan Fraud Over NPL? Race to Discover Loan Frauds Can Create Policy Paralysis

After the discovery of PNB (Punjab National Bank) loan fraud in mid-Feb, worth Rs114bn (now revised to Rs127bn), there is a spate of bad news...

Asia Advisors

India: Is Banking System 'Out of the Woods' on Bad Loans? 3Q Results of PSU Banks Says Not Yet!

PSU Banks continue to report BAD NEWS on NPAsJust when there were hopes that finally, things may be getting better for Indian Banking System on...

Pankaj Sharma

Indian SOE Banks – Positive/Massive Front-Ended Re-Cap Occurs

* The Indian government removed the biggest tail risk at SOE banks with its first tranche re-cap announcement, enabling the sector to take the...

Thomas J. Monaco

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