Sector Other Financial Services - Latest news, views and updates

Other Financial Services

SECTOR | 06 Oct 2020

Capital Market Monthly Report - September 2020

Other Financial Services

IDBI Capital

Other Financial Services

SECTOR | 13 Jul 2020

Apr-Jun'20 Earnings Preview - Situation delusional; wait and watch

Other Financial Services

Prabhudas Lilladhar

periods, risk aversion persists in debt markets. Therefore, plausibility of capital raise, higher funding costs and bleak growth outlook stand imminent for the fiscal. As clarity w.r.t moratorium delinquency should emerge only in Sep'21, we maintain a wait and watch mode on the NBFC space. NBFC stocks witnessed avg. 20% upward price momentum over past three months. While markets have factored low moratorium percentage in Round 2 and rightly so, the slippages from this very moratorium book will be key towards performance appraisal of NBFCs. We prefer players with high capital and...

Other Financial Services

SECTOR | 13 Jul 2020

Apr-Jun'20 Earnings Preview - Situation delusional; wait and watch

Other Financial Services

Prabhudas Lilladhar

Other Financial Services

SECTOR | 03 Feb 2020, 12:00AM

Ashika - Sector Outlook Asset Management - February 2020

Other Financial Services

Ashika Research

In last few years, Asset Management Sector has come into limelight owing to gradual shift of household savings from traditional avenues to financial assets and continuous efforts from regulator bodies to increase investors awareness through educating investors about financial...

Other Financial Services

SECTOR | 08 Sep 2019

RBI's mandate for banks to link retail loans with external benchmark should put peer pres...

Other Financial Services

Emkay

RBI's mandate for banks to link retail loans with external benchmark should put peer pressure on HFCs: The Reserve Bank of India (RBI) has mandated all banks to link all new incremental floating-rate loans for personal, retail and MSMEs to external benchmarks like repo from October 01, 2019, a move to ensure smooth transformation of policy rate cuts. Though there are four external benchmark rates offered to banks, we base our analysis on repo-linked products, given that SBI has already introduced such products. Although such a mandate has not been issued for HFCs, the peer pressure to maintain their market share would push HFCs to cut down the lending rates. (exhibit 11)...

Other Financial Services

SECTOR | 09 Jul 2019

Financials: 1QFY20E Results Preview

Other Financial Services

HDFC Securities

The funding squeeze for the NBFC sector will continue to drive divergence. A washout quarter for auto OEMs will add to AFCs' growth woes. The recurring theme of NBFCs with superior parentage and better asset quality gaining market share will continue to play out. An uptick in securitisation/ assignment is expected for players for whom funding has been constrained. The growth prospects for HFCs in our coverage remain unchanged. 1QFY20 was marked by a slew of defaults (smaller), as aftershocks from the Sept-18 episode continued. Resulting delinquencies could manifest in 2Q. We expect our coverage cos to be relatively insulated. Credit growth and mkt share gains for PVT Banks are expected to sustain. Challenges on the deposit growth front for the system persist, hence C/D ratios are expected to rise (partly seasonal). Credit costs are expected to moderate for corp heavy banks (ICICIBC, AXSB and SBIN) even as coverage continues to build up. PSBs stand to gain from the fall in benchmark yields.

Other Financial Services

SECTOR | 18 Mar 2019

Post Conference Notes - BFSI Conference 2019

Other Financial Services

Prabhudas Lilladhar

Retail growth story intact; real estate stress imminent: Retail credit for banks continues to be on strong footing, while banks are not concerned on BDO India - Largest Insolvency Expert the unsecured portfolio since their growth has been largely towards internal E&Y; Advisory Services Actuarial...

Other Financial Services

SECTOR | 18 Mar 2019

Post Conference Notes - BFSI Conference 2019

Other Financial Services

Prabhudas Lilladhar

Other Financial Services

SECTOR | 15 Feb 2019

Growth trend for mortgage business healthy; banks gaining market share from HFCs: The ove...

Other Financial Services

Emkay

Growth trend for mortgage business healthy; banks gaining market share from HFCs: The overall mortgage portfolios (Housing and LAP) of large banks (Private/PSBs) and Housing Finance Companies (HFCs) have seen healthy growth of about 18.3% yoy and 12.7% YTD (April December 2018). Banks were the leader of the pack, clocking about 18.3% YTD growth vs. HFCs' growth of about 6.3% YTD. Spurred by a superior growth profile and tight liquidity conditions for HFCs, the overall mortgage market share of banks...

Other Financial Services

SECTOR | 21 Dec 2018

NBFCs-HFCs (Ground Check): Better than expected

Other Financial Services

HDFC Securities

View: Surprisingly, disbursals across the branches we visited were resilient. We believe low regional disbursals at CIFC will be balanced by robust performance in other geographies, especially eastern India. Asset quality was stable, in line with expectations. Our constructive stance on CIFC (TP Rs 1,625, 3.25x Dec-20 ABV of Rs 500) and MMFS (TP Rs 500, 2.75x Dec-20 ABV of 175 + Rs 18 for MIBL) remains unchanged. In the light of recent developments in the NBFC space, we visited branches of NBFCs/HFCs in the outskirts of Pune to ascertain the (anecdotal) impact on key metrics.