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Leverage is a key factor in FCNR (B) and obviously when it comes to availing of leverage it is the foreign banks which have an advantage because they can use their home country balance sheets or parent balance sheets to provide that leverage, says Neeraj Gambhir, co-head of fixed income at Nomura.
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Capital is not a problem for SBI, infact it is above what has been recommended by basel III. Arundathi Bhattacharya, managing director, State Bank of India, doesn't expect any impact of the rating downgrade on the domestic front.
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Sugar cane prices have increased 17 percent on average for the last three years, while sugar prices have been lower by nearly 10 percent year-on-year (YoY).
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Gammon Infra feels that the infrastructure sector may see no recovery till 2014 polls as there will be political indecisions and lack of stability. The PPP projects may also see a rise in debts in case banks decided to pass on rate hikes to the customers.
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Pratip Chadhuri, chairman, State Bank of India, says the short term rates will continue to stay high as long as government treasury bills are being auctioned at 11-11.5 percent.
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State Bank of India chairman Pratip Chaudhuri, expects SBI‘s net interest margins to be in the range of 3.55-3.60 percent. He said he has recommended to the RBI that it reduce Cash Reserve Ratio by 1 percentage point.
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Arundhati Bhattacharya, managing director, State Bank of India says that the bank is not dependent on wholesale funding.
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Already FCNB rates are at LIBOR plus 300 and it is difficult to locate borrowers at that level. If the rates were raised to LIBOR plus 400-450, it would be more competitive but it will be very difficult to find enough borrowers.
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India‘s largest lender the State Bank of India shares on Monday hit 52-week low after its first quarter (April-June) standalone net profit dropped 14 percent year-on-year to Rs 3,241 crore. Net interest income (NII) or the difference between interests earned and paid out, inched up 3.5 percent to Rs 11,512 crore.
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Commercial paper and the certificates of deposit market pricing, which were earlier in the range of 8-9 percent, would certainly move beyond the cut-off in the RBI auction of short-term paper
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Diwakar Gupta, executive director, SBI says, in an interview to CNBC-TV18, that sovereign bonds will be disastrous for the economy and a 15-percent credit growth is possible.
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Banks on their own can‘t determine when to harden rates it all depends on the market, SBI chairman Pratip Chaudhuri told CNBC-TV18 in an interview.
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SBI has registered substantial credit growth in its retail segment. Meanwhile, SBI recently told media that it needs Rs 2,30,000 crore in additional capital to meet the stringent Basel-III requirements till 2018.
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The public sector bank is not contemplating any change in interest rates, said SBI, chairman, Pratip Chaudhuri. The impact of RBI measure won't have a significant impact on the bank's bond portfolio, nor will the MTM losses increase, he added.
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Speaking to CNBC-TV18, Diwakar Gupta, MD & CFO of the country's largest lender State Bank of India says the biggest problem will be calculation of corporates' un-hedged exposure.
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Pratip Chaudhuri, Chairman, State Bank of India is more optimistic of India's economic growth than most economists who see GDP growth below the 5 percent mark.
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A Krishna Kumar, MD of State Bank of India says the country‘s largest public sector bank has started an investigative audit on the allegations of wrongdoing levied by online portal Cobrapost. Kumar expects to complete the internal inquires by next month.
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Even though there is no such big threat for rating downgrades, according to Ananda Bhoumik – Director India Ratings, the domestic arm of global rating agency – Fitch; non-performing loans (NPLs) are expected to rise till September, 2013.
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State bank of India expects to report lower non-performing assets in January-March as compared to third quarter, backed by better recoveries in retail NPAs and is very positive about its agriculture portfolio.
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Indian Overseas Bank chairman M Narendra says, in an interview on CNBC-TV18, that the bank will lend more to the TNEB after the process of restructuring.
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Pratip Chaudhuri, chairman of SBI is hopeful for Q4 earnings and considers it to be the best quarter due to clearance of government dues. "Q4 should be a very good quarter regarding the non-performing assets (NPA) and the recovery process," he adds in an interview to CNBC-TV18.
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Hemant Kanoria, CMD of the company told CNBC-TV18 that the assets under management of the company are worth Rs 33580 crore. "There has been a substantial increase in the AUM, but the disbursement has not been very high. So, we have tried to concentrate on the profitability," adds Kanoria.
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Vivek Gupta, Partner at BMR Advisors clearly considers the entire situation to be messy. According to him, there will certainly be a hierarchy of demands once claims are made.
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According to Supreme Court advocate HP Ranina this step will severely hit United Breweries Group because most KFA loans are guaranteed by them.
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The new draft rules of restructuring will help to build in additional contingencies opines managing director and chief financial officer of State Bank of India, Diwakar Gupta.
