India: The Indian Rupee – Next Stop INR 70/USD, G-SEC 10-Year Yield – 8%
Since the publication of our January 2018 report, the spread between one-year Indian G-SEC and the U.S. Treasury has declined approximately 50bps....
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The Indian Conundrum - A Growing Economy & Stagnant Bank Credit
Indian banks are dealing with multiple issues, none of which are easily resolvable. However, the recent decline in GOI bond yields has given the...
281 Views
The Reserve Bank of India–Between a Rock and a Hard Place, Higher Yields & Higher NPAs Forthcoming?
The Reserve Bank of India upheld the status-quo by maintaining the liquidity adjustment facility rate at 6%. However, the vote was not unanimous,...
287 Views
State Bank of India - Stable Margins Bolstered with Asset Quality Improvement
The healthy growth in the loan book was driven by retail book growth of ~15.7/3.3%YoY/QoQ (unsecured retail Xpress credit grew 18/5% YoY/QoQ), Agri...
323 Views
State Bank of India: New moats emerge as game changers. Maintain BUY
While SBI always had the natural advantage of brand recognition and scale, the bank has gradually added other competitive moats in the form of a...
465 Views