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HDFCLIFE registered a strong performance as overall NBP grew sharply by 46.6% yoy to Rs. 9.4bn. This outperformance by HDFCLIFE was driven by a substantial increase in the group single premiums which jumped 2.1x. Overall NBP for IPRU declined 3.9% yoy while SBILIFE saw a modest 1.6% yoy increase in overall NBP in May 2021. For SBILIFE, the retail non-single premiums declined by 6.5% yoy, while the growth in the group single premium category was lower than private players. The group renewal business was half of what it was in May 2020. These factors contributed to the decline in NBP for the company. For IPRU, the de-growth in overall NBP was led by a decline in the group renewal business....
Q4FY21 Net interest income shrunk 22.6% YoY, with domestic NIM contracting 102bps YoY to 2.16% Pre-provision operating profit fell 21.0% YoY while PAT reached Rs. 250cr, owing to lower provisioning in the quarter. We expect the credit costs and NIM margins to worsen on account of weak asset quality (particularly from stressed MSME segment). If Stimulus from government is announced, then it may act as turnaround catalyst for growth in loan book. However given current uncertainties,...
Asian markets are trading mixed as investor's watch-out for Chinese inflation data expected later in the day. Nikkei is trading lower by 0.27%, Hang Seng is trading lower by 0.10% while Shanghai is trading higher by 0.09%.
Asian markets are trading marginally lower tracking mixed cues from Wall Street overnight and as investors took note of data that showed Japans GDP contracted 3.9% in the first quarter (vs. estimates of 5.1% contraction). Nikkei is trading lower by 0.07%, Shanghai is trading lower by 0.12% and Ha..
Indian bank is a mid-sized bank in the public sector, with a loan book size of Rs. 3.9 lakh crore and deposit base of Rs. 5.4 lakh crore. Allahabad Bank was merged with Indian Bank on 1st April 2020 and...
Asian markets are trading mixed as investors await release of Chinese trade data for May, in the day ahead. Nikkei is trading higher by 0.17%, Shanghai is trading higher by 0.19% while Hang Seng is trading lower by 0.66%.
Covid-19 Update: Steady decline in new cases - India has been able to arrest the rapid spread of the second wave in the month of May through means of localized and regional lockdowns. For the past few days, the Covid-19 curve is heading southward with the recovery rate outpacing the rate of new case
