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.

Thematic (Sector/Industry)

Ruling party BJP has won a landslide victory in the largest state of Uttar Pradesh (UP) thereby putting to rest any doubts over the adverse impact of demonetisation on the electoral prospects of the party. Performance in UP is impressive as the opposition had formed an alliance to fight Modi but still lost poorly.  Most political analysts have been caught on the wrong foot as they predicted a hung assembly while the results show that Modi wave seen during the General elections continues. We…

Ruling party BJP has won a landslide victory in the largest state of Uttar Pradesh (UP) thereby putting to rest any doubts over the adverse impact of demonetisation on the electoral prospects of the party. Performance in UP is impressive as the opposition had formed an alliance to fight Modi but still lost poorly.  Most political analysts have been caught on the wrong foot as they predicted a hung assembly while the results show that Modi wave seen during the General elections continues. We…

Landslide Win for Modi in UP Elections;Upper House No.s to Cross 100 Mark by 2018, a +ve for Reforms

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.

The collapse of lending in India remains well in place in January where annual growth is running at an anemic 3.3%. This is the same as in December last year, and lower than in November. To us, it does not feel like India is anywhere near a post-demonetization boom in credit, as some are expecting. The reality is that companies will see more stress, economic growth will worsen, and banks will face greater NPLs. India – Credit growth (% ch YoY)<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/022/174/original/daniel%201.png?1488984550" class="editor-image img-responsive" data-smartkarma-image-id="22174"></figure><div class="content-caption">Source: CEIC</div>What may be more of a surprise is that…

The collapse of lending in India remains well in place in January where annual growth is running at an anemic 3.3%. This is the same as in December last year, and lower than in November. To us, it does not feel like India is anywhere near a post-demonetization boom in credit, as some are expecting. The reality is that companies will see more stress, economic growth will worsen, and banks will face greater NPLs. India – Credit growth (% ch YoY)Source: CEICWhat may be more of a surprise is that…

India's Lending Is Still Painfully Low in January

Independent Insight Provider

Stewart Paterson

Taurus Advisors LLP

Macroeconomics

Eurozone inflation announced today came in "on target" at 2% for the first time in 4 years!! To give credit where credit is due, between 2001 and October 2007 the ECB had a pretty impeccable record when it came to inflation targeting. CPI as measured by Eurostat oscillated between a low of 1.6% and a high of 2.5% and averaged 2.1%. However, 2007 seems a long time ago now and in the past decade or so CPI has been at 2% on just four occasions prior to today: on each of these CPI passed through 2%…

Eurozone inflation announced today came in "on target" at 2% for the first time in 4 years!! To give credit where credit is due, between 2001 and October 2007 the ECB had a pretty impeccable record when it came to inflation targeting. CPI as measured by Eurostat oscillated between a low of 1.6% and a high of 2.5% and averaged 2.1%. However, 2007 seems a long time ago now and in the past decade or so CPI has been at 2% on just four occasions prior to today: on each of these CPI passed through 2%…

The Personal consumption expenditure numbers in the US were released today. Income grew 0.4% MoM, an annualised rate of nearly 5% but the deflator matched the pace of growth so real incomes were stagnant. The PCE deflator is the Fed's preferred measure of inflation. The cynic would say this is because it perennially seems to undershoot CPI. However, even on this low-ball measure of inflation, the year on year rate of 1.9% is almost smack on the Fed's inflation target of 2% and the last 3 months…

The Personal consumption expenditure numbers in the US were released today. Income grew 0.4% MoM, an annualised rate of nearly 5% but the deflator matched the pace of growth so real incomes were stagnant. The PCE deflator is the Fed's preferred measure of inflation. The cynic would say this is because it perennially seems to undershoot CPI. However, even on this low-ball measure of inflation, the year on year rate of 1.9% is almost smack on the Fed's inflation target of 2% and the last 3 months…

Since India’s demonetization, the government has lowered GDP forecasts, the Reserve Bank of India has signaled a less accommodative stance, and the proposed recapitazliation of ailing public sector banks is being curtailed. Perhaps there will be less flow-through on the budget in execution, timing and magnitude? High non-performing loans and cratering loan growth was a feature of India’s banks before all of the above, and we believe these will remain front and center still.  We include several…

Since India’s demonetization, the government has lowered GDP forecasts, the Reserve Bank of India has signaled a less accommodative stance, and the proposed recapitazliation of ailing public sector banks is being curtailed. Perhaps there will be less flow-through on the budget in execution, timing and magnitude? High non-performing loans and cratering loan growth was a feature of India’s banks before all of the above, and we believe these will remain front and center still.  We include several…

Anecdotes from India Mirror Poor Optimism: Bank Risk Remains

India

State Bank of India provides a wide range of banking and financial services to corporate, institutional, commercial, agricultural, industrial and individual customers throughout India.  The Bank also provides international banking to its Indian customers and has operations in other countries.

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State Bank of India (SBID LI)

Landslide Win for Modi in UP Elections;Upper House No.s to Cross 100 Mark by 2018, a +ve for Reforms

Ruling party BJP has won a landslide victory in the largest state of Uttar Pradesh (UP) thereby putting to rest any doubts over the adverse impact...

Asia Advisors

India's Lending Is Still Painfully Low in January

The collapse of lending in India remains well in place in January where annual growth is running at an anemic 3.3%. This is the same as in December...

Daniel Tabbush

Money Matters: Deutschland Über Alles?

Eurozone inflation announced today came in "on target" at 2% for the first time in 4 years!! To give credit where credit is due, between 2001 and...

Stewart Paterson

Money Matters: Ready for Lift-Off?

The Personal consumption expenditure numbers in the US were released today. Income grew 0.4% MoM, an annualised rate of nearly 5% but the deflator...

Stewart Paterson

Anecdotes from India Mirror Poor Optimism: Bank Risk Remains

Since India’s demonetization, the government has lowered GDP forecasts, the Reserve Bank of India has signaled a less accommodative stance, and the...

Daniel Tabbush

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