research on banking sector by witty advisory
DESCRIPTION
An outlook on banking sector published by Witty Advisory.TRANSCRIPT
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Banking Sector (Published on 5th June 2012) By
Witty Advisory Outshining Vista
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Introduction Key Points Important Definitions Revised Banking Rates Ratio Analysis Terms More Parameters Outlook on Various Banks Statement Overall Outlook on a banking sector Long Term Prospects About Witty Advisory
6/5/2012 BANKING SECTOR OUTLOOK 2
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The global financial system is still far away from a full recovery on account of a slowdown in the US economy as well as the Euro debt crisis. However, the Indian banking sector has been relatively well shielded by the central bank and has managed to sail through most of the crisis with relative ease. But, with the economic buoyancy the world over showing signs of cooling off, the investment cycle has been wavering in the country.
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Retail lending (especially mortgage financing) that formed a significant portion of the portfolio for most banks in the last two years lost some weightage on the banks’ portfolios due to their risk weightage. However, on the liabilities side, with better penetration in the semi urban and rural areas, banks garnered a higher proportion of low cost deposits thereby economizing on the cost of funds. However, the RBI recently deregulated the savings account deposit rate. However only a few smaller private sector banks have increased their rates while the others have maintained status quo.
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Supply Liquidity is controlled by the Reserve Bank of India (RBI). Demand India is a growing economy and demand for credit is high though it could be cyclical. Barriers to entry Licensing requirement, investment in technology and branch network, capital requirements. Bargaining power of suppliers High during periods of tight liquidity. Trade unions in public sector banks can be anti reforms. Depositors may invest elsewhere if interest rates fall.
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Bargaining power of customers For good creditworthy
borrowers bargaining power is high due to the
availability of large number of banks.
Competition High- There are public sector banks,
private sector and foreign banks along with non banking
finance companies competing in similar business
segments. Plus the RBI is planning to issue a few new banking licenses.
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Bank Rate- This is the rate at which RBI lends money to other banks (or financial institutions).
Cash Reserve Ratio- Banks in India are required to hold a certain proportion of their deposits in the form of cash. However, actually Banks don’t hold these as cash with themselves, but deposit such case with Reserve Bank of India (RBI) .
Statutory Liquidity Ratio (SLR)- This term is used by bankers and indicates the minimum percentage of deposits that the bank has to maintain in form of gold, cash or other approved securities with themselves.
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Repo Rate under LAF- It is the rate at which the RBI lends
shot-term money to the banks against securities.
Reverse Repo Rate under LAF-It is the rate at which banks
park their short-term excess liquidity with the RBI.
Marginal Standing Facility (MSF)-Under this scheme,
Banks will be able to borrow up to 1% of their respective Net
Demand and Time Liabilities". The rate of interest on the
amount accessed from this facility will be 100 basis points
(i.e. 1%) above the Repo rate. This scheme is likely to
reduce volatility in the overnight rates and improve monetary
transmission.
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Bank Rate
9.00% Cash Reserve Ratio (CRR)
4.75% Statutory Liquidity Ratio (SLR)
24% Repo Rate under LAF
8.00% Reverse Repo Rate under LAF
7.00% Marginal Standing Facility
9.00%
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Earnings Per Share(EPS)- The portion of
a company's profit allocated to each
outstanding share of common
stock. Earnings per share serves as an
indicator of a company's profitability.
Formula- Net Income-Dividend/Average
outstanding charges
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Price-to-Earnings ratio(P/E) -In stock
trading, it is the measure of the price paid
for a share relative to the annual net
income or profit earned by the firm per
share.
Formula-Market Ratio Per Share/Earnings
Per Share
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Price/Cash flow ratio (also called price-
to-cash flow ratio or P/C)- It is a ratio
used to compare a company's market
value to its cash flow.
Formula- Market Capital/Cash Flow
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Book Value- In accounting,It is the value
of an asset according to its balance sheet
account balance. For assets, the value is
based on the original cost of the asset
less any depreciation, amortization or
Impairment costs made against the asset.
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The Price-to-Book ratio(P/B ratio)- It is a
financial ratio used to compare a
company's book value to its current market price.
Formula- (1)-Market Cap/Book Value
(2)-CMP/Book Value Pr Share
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Dividend-They are the payments made by
a corporation to its shareholder members.
It is the portion of corporate profits paid
out to stockholders.
It is generally calculated in terms of
percentage.
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Dividend Yield- It is the company's total
annual dividend payments divided by its
market capitalization, or the dividend per
share, divided by the price per share.
It is often expressed as a percentage.
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Results- Quarterly Half yearly Annual Statements- Balance Sheet P & L Cash Flow
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Shareholding Promoter's holding Institutional investors Private Corporate Bodies NRI's/OCB's/Foreign Others
Government NPA (Non Performing Assets)
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EPS- 114.42 P/E- 18.49 P/C- 16.38 BOOK VALUE (Rs.)- 968.97 PRICE/BOOK- 2.18 DIV (%)- 300.00 DIV YIELD (%)- 1.42 NPA- 4.44%
6/5/2012 BANKING SECTOR OUTLOOK 19
Average
Average
Average
Outstanding
Outstanding
Good
Average
Poor
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Profit Margin- Quarterly(Q4)- Increased Half yearly- Increased
Annual- Decreased Promoter’s Holding remains the same. FII’s have increased. Other Investors have increased. Total Debt increased from last year.
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Dividend has increased from last year. Profit Before Tax has increased. Unsecured loans have increased. Depreciation has increased. Operating Profit has increased. NPA has decreased sharply.
6/5/2012 BANKING SECTOR OUTLOOK 21
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Short Term- Out Performer Long Term- Overweight
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EPS- 52.18 P/E- 15.50 P/C- 15.09 BOOK VALUE (Rs.)- 477.88 PRICE/BOOK- 1.80 DIV (%)- 140.00 DIV YIELD (%)- 1.63 NPA (%)- 0.73
6/5/2012 BANKING SECTOR OUTLOOK 23
Poor
Average
Average
Good
Outstanding
Good
Average
Better
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Profit Margin- Quarterly- Increased
Half yearly- Increased Annual- Increased
FII’s have increased. Other Investors have increased. Total Debt increased from last year.
6/5/2012 BANKING SECTOR OUTLOOK 24
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Dividend has increased from last year. Profit Before Tax has increased. Unsecured loans have increased. Depreciation has decreased. Operating Profit has increased. NPA has come down from 0.84% to 0.73%.
6/5/2012 BANKING SECTOR OUTLOOK 25
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Short Term- Out performer Long Term- Out performer
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EPS- 96.44 P/E- 11.62 P/C- 10.83 BOOK VALUE (Rs.)- 459.86 PRICE/BOOK- 2.44 DIV (%)- 140.00% DIV YIELD (%)- 1.25% NPA (%)- )- 0.3%
6/5/2012 BANKING SECTOR OUTLOOK 27
Average
Average
Average
Good
Outstanding
Good
Average
Poor
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Profit Margin- Quarterly- Increased
Half yearly- Decreased Annual- Decreased
FII’s have increased. Other Investors have Decreased. Total Debt increased from last year.
6/5/2012 BANKING SECTOR OUTLOOK 28
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Dividend has decreased from last year. Profit After Tax has increased. Unsecured loans have increased. Depreciation has increased. Operating Profit has increased. NPA has increased.
6/5/2012 BANKING SECTOR OUTLOOK 29
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Short Term- Under performer Long Term- Neutral
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EPS- 20.15 P/E- 4.58 P/C- 4.39 BOOK VALUE (Rs.)- 99.29 PRICE/BOOK- 0.93 DIV (%)- 22.00% DIV YIELD (%)- 2.38% NPA (%)- 1.15%
6/5/2012 BANKING SECTOR OUTLOOK 31
Average
Outstanding
Outstanding
Outstanding
Outstanding
Good
Good
Better
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Profit Margin- Quarterly- Increased
Half yearly- Decreased Annual- Increased
FII’s investment remain same. Other Investors have Increased. Total Debt Decreased from last year.
6/5/2012 BANKING SECTOR OUTLOOK 32
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Dividend has decreased from last year. Profit After Tax has increased. Unsecured loans have increased. Depreciation has increased. Operating Profit has increased. NPA has come down.
6/5/2012 BANKING SECTOR OUTLOOK 33
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Short Term- Out performer Long Term- Out performer
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EPS- 41.56 P/E- 10.00 P/C- 9.29 BOOK VALUE (Rs.)- 298.34 PRICE/BOOK- 1.39 DIV (%)- 85.00 DIV YIELD (%)- 2.05 NPA (%)- 0.81%
6/5/2012 BANKING SECTOR OUTLOOK 35
Average
Average
Average
Good
Outstanding
Good
Good
Better
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Profit Margin- Quarterly- Increased
Half yearly- Decreased Annual- Increased
FII’s investment has increased. Other Investors have Increased. Total Debt has increased from last year.
6/5/2012 BANKING SECTOR OUTLOOK 36
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Dividend has increased from last year. Profit After Tax has increased. Unsecured loans have increased. Depreciation has increased. Operating Profit has decreased. NPA has come down.
6/5/2012 BANKING SECTOR OUTLOOK 37
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Short Term- Out performer Long Term- Neutral
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EPS- 75.68 P/E- 5.77 P/C- 5.52 BOOK VALUE (Rs.)- 405.00 PRICE/BOOK- 1.08 DIV (%)- 110.00 DIV YIELD (%)- 2.52 NPA (%)- 1.73%
6/5/2012 BANKING SECTOR OUTLOOK 39
Average
Good
Good
Good
Outstanding
Good
Good
Better
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Profit Margin- Quarterly- Increased
Half yearly- Decreased Annual- Increased
FII’s investment has increased. Other Investors have Decreased. Total Debt has decreased from last year.
6/5/2012 BANKING SECTOR OUTLOOK 40
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Dividend has increased from last year. Profit After Tax has increased. Unsecured loans have increased. Depreciation has decreased. Operating Profit has increased. NPA has come down.
6/5/2012 BANKING SECTOR OUTLOOK 41
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Short Term- Out performer Long Term- Out performer
6/5/2012 BANKING SECTOR OUTLOOK 42
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EPS- 15.89 P/E- 6.49 P/C- 6.49 BOOK VALUE (Rs.)- 117.31 PRICE/BOOK- 0.88 DIV (%)- 15.00 DIV YIELD (%)- 3.40 NPA (%)- 2.1%
6/5/2012 BANKING SECTOR OUTLOOK 43
Average
Average
Average
Outstanding
Outstanding
Poor
Good
Poor
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Profit Margin- Quarterly- Increased
Half yearly- Increased Annual- Increased
FII’s investment has decreased. Other Investors have Decreased. Total Debt has decreased from last year.
6/5/2012 BANKING SECTOR OUTLOOK 44
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Dividend has decreased from last year. Profit After Tax has increased. Unsecured loans have increased. Depreciation has increased. Operating Profit has increased. NPA has increased.
6/5/2012 BANKING SECTOR OUTLOOK 45
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Short Term- Out performer Long Term- Neutral
6/5/2012 BANKING SECTOR OUTLOOK 46
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EPS- 38.61 P/E- 9.20 P/C- 8.65 BOOK VALUE (Rs.)- 278.47 PRICE/BOOK- 1.28 DIV (%)- 70.00 DIV YIELD (%)- 1.97 NPA (%)- 1.47%
6/5/2012 BANKING SECTOR OUTLOOK 47
Average
Average
Average
Outstanding
Outstanding
Good
Average
Better
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Profit Margin- Quarterly- Increased
Half yearly- Decreased Annual- Increased
FII’s investment has decreased. Other Investors have Decreased. Total Debt has increased from last year.
6/5/2012 BANKING SECTOR OUTLOOK 48
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Dividend has Increased from last year. Profit After Tax has increased. Unsecured loans have increased. Depreciation has increased. Operating Profit has increased. NPA has decreased from 1.78% to 1.47%.
6/5/2012 BANKING SECTOR OUTLOOK 49
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Short Term- Out performer Long Term- Neutral
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EPS- 22.02 P/E- 24.67 P/C- 24.67 BOOK VALUE (Rs.)- 108.17 PRICE/BOOK- 5.02 DIV (%)- 215.00 DIV YIELD (%)- 0.61 NPA (%)-0.2%
6/5/2012 BANKING SECTOR OUTLOOK 51
Poor
Poor
Poor
Average
Average
Good
Poor
Better
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Profit Margin- Quarterly- Decreased
Half yearly- Increased Annual- Decreased
FII’s investment has decreased sharply. Other Investors have increased. Total Debt has increased from last year.
6/5/2012 BANKING SECTOR OUTLOOK 52
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Dividend has Increased from last year. Profit After Tax has increased. Unsecured loans have increased. Depreciation has increased. Operating Profit has increased. NPA has decreased.
6/5/2012 BANKING SECTOR OUTLOOK 53
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Short Term- Under performer Long Term- Under performer
6/5/2012 BANKING SECTOR OUTLOOK 54
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EPS- 17.15 P/E- 19.07 P/C- 19.07 BOOK VALUE (Rs.)- 81.59 PRICE/BOOK- 4.01 DIV (%)- 22.00 DIV YIELD (%)- 0.61 NPA (%)-0.29%
6/5/2012 BANKING SECTOR OUTLOOK 55
Poor
Poor
Poor
Average
Good
Average
Poor
Better
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Profit Margin- Quarterly- Increased
Half yearly- Increased Annual- Decreased
FII’s investment has increased. Other Investors have increased. Total Debt has decreased from last year.
6/5/2012 BANKING SECTOR OUTLOOK 56
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Dividend has Increased from last year. Profit After Tax has increased. Unsecured loans have increased. Depreciation has increased. Operating Profit has increased. NPA has decreased.
6/5/2012 BANKING SECTOR OUTLOOK 57
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Short Term- Neutral Long Term- Neutral
6/5/2012 BANKING SECTOR OUTLOOK 58
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EPS- 27.62 P/E- 12.69 P/C- 12.69 BOOK VALUE (Rs.)- 107.46 PRICE/BOOK- 3.26 DIV (%)- 40.00 DIV YIELD (%)- 0.71 NPA (%)- 0.47
6/5/2012 BANKING SECTOR OUTLOOK 59
Poor
Poor
Poor
Good
Outstanding
Average
Poor
Better
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Profit Margin- Quarterly (Q4)- Increased Half yearly- Decreased
Annual- Decreased FII’s investment has increased. Other Investors have decreased. Total Debt has increased from last year.
6/5/2012 BANKING SECTOR OUTLOOK 60
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Dividend has Increased from last year. Profit After Tax has increased. Unsecured loans have increased. Depreciation has increased. Operating Profit has increased. NPA has remained the same.
6/5/2012 BANKING SECTOR OUTLOOK 61
![Page 62: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/62.jpg)
Short Term- Out performer Long Term- Underweight
6/5/2012 BANKING SECTOR OUTLOOK 62
![Page 63: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/63.jpg)
EPS- 29.27 P/E- 7.66 P/C- 6.99 BOOK VALUE (Rs.)- 201.72 PRICE/BOOK- 1.11 DIV (%)- 80.00 DIV YIELD (%)- 3.57 NPA (%)-1.70%
6/5/2012 BANKING SECTOR OUTLOOK 63
Poor
Average
Average
Outstanding
Outstanding
Good
Good
Better
![Page 64: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/64.jpg)
Profit Margin- Quarterly - Decreased
Half yearly- Decreased Annual- Decreased
FII’s investment has Decreased. Other Investors have increased. Total Debt has decreased from last year.
6/5/2012 BANKING SECTOR OUTLOOK 64
![Page 65: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/65.jpg)
Dividend has Increased from last year. Profit After Tax has increased. Unsecured loans have increased. Depreciation has decreased. Operating Profit has decreased. NPA has decreased.
6/5/2012 BANKING SECTOR OUTLOOK 65
![Page 66: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/66.jpg)
Short Term- Under performer Long Term- Neutral
6/5/2012 BANKING SECTOR OUTLOOK 66
![Page 67: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/67.jpg)
EPS- 137.42 P/E- 6.16 P/C- 5.84 BOOK VALUE (Rs.)- 591.43 PRICE/BOOK- 1.43 DIV (%)- 220.00 DIV YIELD (%)- 2.60 NPA (%)-1.51
6/5/2012 BANKING SECTOR OUTLOOK 67
Good
Good
Good
Outstanding
Outstanding
Good
Good
Poor
![Page 68: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/68.jpg)
Profit Margin- Quarterly - Decreased Half yearly- Decreased
Annual- Decreased FII’s investment has Decreased. Other Investors have decreased. Total Debt has increased from last year.
6/5/2012 BANKING SECTOR OUTLOOK 68
![Page 69: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/69.jpg)
Dividend has Increased from last year. Profit After Tax has increased. Unsecured loans have increased. Depreciation has increased. Operating Profit has increased. NPA has increased.
6/5/2012 BANKING SECTOR OUTLOOK 69
![Page 70: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/70.jpg)
Short Term- Neutral Long Term- Out performer
6/5/2012 BANKING SECTOR OUTLOOK 70
![Page 71: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/71.jpg)
EPS- 115.99 P/E- 6.62 P/C- 6.27 BOOK VALUE (Rs.)- 534.43 PRICE/BOOK- 1.44 DIV (%)- 165.00 DIV YIELD (%)- 2.15 NPA (%)-0.51%
6/5/2012 BANKING SECTOR OUTLOOK 71
Good
Good
Good
Outstanding
Outstanding
Good
Good
Better
![Page 72: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/72.jpg)
Profit Margin- Quarterly - increased
Half yearly- Decreased Annual- increased
FII’s investment remains the same. Other Investors have remained the same. Total Debt has decreased from last year.
6/5/2012 BANKING SECTOR OUTLOOK 72
![Page 73: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/73.jpg)
Dividend has Increased from last year. Profit After Tax has increased. Unsecured loans have increased. Depreciation has increased. Operating Profit has increased. NPA has decreased.
6/5/2012 BANKING SECTOR OUTLOOK 73
![Page 74: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/74.jpg)
Short Term- Out performer Long Term- Out performer
6/5/2012 BANKING SECTOR OUTLOOK 74
![Page 75: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/75.jpg)
EPS- 41.48 P/E- 5.54 P/C- 5.15 BOOK VALUE (Rs.)- 349.97 PRICE/BOOK- 0.66 DIV (%)- 104.00 DIV YIELD (%)- 4.53 NPA (%)- 2.1%
6/5/2012 BANKING SECTOR OUTLOOK 75
Average
Good
Good
Outstanding
Outstanding
Good
Excellent
Better
![Page 76: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/76.jpg)
Profit Margin- Quarterly(Q4) – Decreased
Half yearly- Decreased Annual- increased
FII’s investment increased. Other Investors have increased. Total Debt has decreased from last year.
6/5/2012 BANKING SECTOR OUTLOOK 76
![Page 77: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/77.jpg)
Dividend has Increased from last year. Profit After Tax has increased. Unsecured loans have increased. Depreciation has increased. Operating Profit has increased. NPA has decreased.
6/5/2012 BANKING SECTOR OUTLOOK 77
![Page 78: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/78.jpg)
Short Term- Neutral Long Term- Out performer
6/5/2012 BANKING SECTOR OUTLOOK 78
![Page 79: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/79.jpg)
EPS- 34.48 P/E- 4.87 P/C- 4.69 BOOK VALUE (Rs.)- 153.33 PRICE/BOOK- 1.09 DIV (%)- 60.00 DIV YIELD (%)- 3.58 NPA (%)- 1.77%
6/5/2012 BANKING SECTOR OUTLOOK 79
Average
Good
Good
Excellent
Outstanding
Good
Good
Better
![Page 80: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/80.jpg)
Profit Margin- Quarterly – increased Half yearly- increased
Annual- Decreased FII’s investment decreased. Other Investors have decreased. Total Debt has decreased from last year.
6/5/2012 BANKING SECTOR OUTLOOK 80
![Page 81: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/81.jpg)
Dividend has Increased from last year. Profit After Tax has decreased. Unsecured loans have increased. Depreciation has decreased. Operating Profit has decreased. NPA has decreased.
6/5/2012 BANKING SECTOR OUTLOOK 81
![Page 82: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/82.jpg)
Short Term- Neutral Long Term- Out performer
6/5/2012 BANKING SECTOR OUTLOOK 82
![Page 83: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/83.jpg)
EPS- 7.25 P/E- 7.53 P/C- 6.50 BOOK VALUE (Rs.)- 51.68 PRICE/BOOK- 1.06 DIV (%)- 20.00 DIV YIELD (%)- 3.66 NPA (%)- 2.2%
6/5/2012 BANKING SECTOR OUTLOOK 83
Poor
Poor
Poor
Excellent
Outstanding
Average
Good
Better
![Page 84: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/84.jpg)
Profit Margin- Quarterly – increased Half yearly- increased
Annual- Decreased FII’s investment increased. Other Investors have decreased. Total Debt has decreased from last year.
6/5/2012 BANKING SECTOR OUTLOOK 84
![Page 85: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/85.jpg)
Dividend has remained the same. Profit After Tax has decreased. Unsecured loans have increased. Depreciation has decreased. Operating Profit has decreased. NPA has decreased.
6/5/2012 BANKING SECTOR OUTLOOK 85
![Page 86: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/86.jpg)
Short Term- Neutral Long Term- Under performer
6/5/2012 BANKING SECTOR OUTLOOK 86
![Page 87: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/87.jpg)
EPS- 11.99 P/E- 7.31 P/C- 6.59 BOOK VALUE (Rs)- 104.68 PRICE/BOOK- 0.84 DIV (%)- 50.00 DIV YIELD (%)- 5.70 NPA (%)- 1.33%
6/5/2012 BANKING SECTOR OUTLOOK 87
Average
Average
Average
Excellent
Outstanding
Good
Outstanding
Better
![Page 88: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/88.jpg)
Profit Margin- Quarterly – Decreased Half yearly- Decreased
Annual- increased FII’s investment decreased. Other Investors have decreased. Total Debt has increased from last year.
6/5/2012 BANKING SECTOR OUTLOOK 88
![Page 89: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/89.jpg)
Dividend has increased. Profit After Tax has increased. Unsecured loans have increased. Depreciation has decreased. Operating Profit has increased. NPA has decreased.
6/5/2012 BANKING SECTOR OUTLOOK 89
![Page 90: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/90.jpg)
Short Term- Under performer Long Term- Neutral
6/5/2012 BANKING SECTOR OUTLOOK 90
![Page 91: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/91.jpg)
EPS- 23.55 P/E- 5.06 P/C- 4.68 BOOK VALUE (Rs)- 116.02 PRICE/BOOK- 1.03 DIV (%)- 55.00 DIV YIELD (%)- 4.62 NPA (%)- 1.48%
6/5/2012 BANKING SECTOR OUTLOOK 91
Average
Average
Good
Outstanding
Outstanding
Good
Excellent
Better
![Page 92: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/92.jpg)
Profit Margin- Quarterly – Decreased Half yearly- Decreased
Annual- increased FII’s investment decreased. Other Investors have decreased. Total Debt has increased from last year.
6/5/2012 BANKING SECTOR OUTLOOK 92
![Page 93: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/93.jpg)
Dividend has increased. Profit After Tax has increased. Unsecured loans have increased. Depreciation has decreased. Operating Profit has increased. NPA has increased from last quarter.
6/5/2012 BANKING SECTOR OUTLOOK 93
![Page 94: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/94.jpg)
Short Term- Under performer Long Term- Neutral
6/5/2012 BANKING SECTOR OUTLOOK 94
![Page 95: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/95.jpg)
EPS- 42.82 P/E- 5.20 P/C- 5.00 BOOK VALUE (Rs)- 184.44 PRICE/BOOK- 1.21 DIV (%)- 75.00 DIV YIELD (%)- 3.37 NPA (%)- 2.4%
6/5/2012 BANKING SECTOR OUTLOOK 95
Average
Good
Good
Excellent
Outstanding
Good
Good
Poor
![Page 96: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/96.jpg)
Profit Margin- Quarterly – increased
Half yearly- Decreased Annual- Decreased
FII’s investment increased. Other Investors have decreased. Total Debt has increased from last year.
6/5/2012 BANKING SECTOR OUTLOOK 96
![Page 97: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/97.jpg)
Dividend has increased. Profit After Tax has increased. Unsecured loans have increased. Depreciation has decreased. Operating Profit has increased. NPA has increased from last quarter.
6/5/2012 BANKING SECTOR OUTLOOK 97
![Page 98: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/98.jpg)
Short Term- Neutral Long Term- Out performer
6/5/2012 BANKING SECTOR OUTLOOK 98
![Page 99: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/99.jpg)
EPS- 16.27 P/E- 4.75 P/C- 4.42 BOOK VALUE (Rs)- 77.97 PRICE/BOOK- 0.99 DIV (%)- 30.00 DIV YIELD (%)- 3.88 NPA (%)- 3.49%
6/5/2012 BANKING SECTOR OUTLOOK 99
Average
Good
Good
Outstanding
Outstanding
Good
Good
Poor
![Page 100: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/100.jpg)
Profit Margin- Quarterly – increased
Half yearly- Decreased Annual- Decreased
FII’s investment increased. Other Investors have decreased. Total Debt has decreased from last year.
6/5/2012 BANKING SECTOR OUTLOOK 100
![Page 101: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/101.jpg)
Dividend has increased. Profit After Tax has decreased. Unsecured loans have increased. Depreciation has increased. Operating Profit has increased. NPA has increased from last quarter.
6/5/2012 BANKING SECTOR OUTLOOK 101
![Page 102: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/102.jpg)
Short Term- Neutral Long Term- Out performer
6/5/2012 BANKING SECTOR OUTLOOK 102
![Page 103: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/103.jpg)
EPS- 18.52 P/E- 3.86 P/C- 3.63 BOOK VALUE (Rs)- 154.33 PRICE/BOOK- 0.46 DIV (%)- 20.00 DIV YIELD (%)- 2.80 NPA (%)- 0.63%
6/5/2012 BANKING SECTOR OUTLOOK 103
Average
Good
Good
Good
Outstanding
Good
Good
Better
![Page 104: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/104.jpg)
Profit Margin- Quarterly – Decreased Half yearly- Decreased
Annual- Decreased FII’s investment Decreased. Other Investors have remained the same. Total Debt has decreased from last year.
6/5/2012 BANKING SECTOR OUTLOOK 104
![Page 105: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/105.jpg)
Dividend has increased. Profit After Tax has decreased. Unsecured loans have increased. Depreciation has increased. Operating Profit has increased. NPA has decreased.
6/5/2012 BANKING SECTOR OUTLOOK 105
![Page 106: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/106.jpg)
Short Term- Under performer Long Term- Neutral
6/5/2012 BANKING SECTOR OUTLOOK 106
![Page 107: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/107.jpg)
EPS- 21.48 P/E- 4.83 P/C- 4.57 BOOK VALUE (Rs)- 111.07 PRICE/BOOK- 0.93 DIV (%)- 37.00 DIV YIELD (%)- 3.58 NPA (%)- 1.1%
6/5/2012 BANKING SECTOR OUTLOOK 107
Average
Good
Good
Good
Outstanding
Good
Good
Better
![Page 108: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/108.jpg)
Profit Margin- Quarterly – increased Half yearly- increased
Annual- increased FII’s investment increased. Other Investors have decreased. Total Debt has decreased from last year.
6/5/2012 BANKING SECTOR OUTLOOK 108
![Page 109: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/109.jpg)
Dividend has increased. Profit After Tax has increased. Unsecured loans have increased. Depreciation has decreased. Operating Profit has increased. NPA has decreased.
6/5/2012 BANKING SECTOR OUTLOOK 109
![Page 110: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/110.jpg)
Short Term- Neutral Long Term- Out performer
6/5/2012 BANKING SECTOR OUTLOOK 110
![Page 111: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/111.jpg)
EPS- 10.47 P/E- 8.98 P/C- 7.78 BOOK VALUE (Rs)- 94.42 PRICE/BOOK- 1.00 DIV (%)- 25.00 DIV YIELD (%)- 2.66 NPA (%)- 1.37%
6/5/2012 BANKING SECTOR OUTLOOK 111
Average
Poor
Poor
Good
Outstanding
Average
Good
Poor
![Page 112: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/112.jpg)
Profit Margin- Quarterly – decreased Half yearly- decreased
Annual- decreased FII’s investment increased. Other Investors have decreased. Total Debt has decreased from last year.
6/5/2012 BANKING SECTOR OUTLOOK 112
![Page 113: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/113.jpg)
Dividend has increased. Profit After Tax has increased. Unsecured loans have increased. Depreciation has increased. Operating Profit has increased. NPA has increased from last quarter.
6/5/2012 BANKING SECTOR OUTLOOK 113
![Page 114: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/114.jpg)
Short Term- Under performer Long Term- Neutral
6/5/2012 BANKING SECTOR OUTLOOK 114
![Page 115: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/115.jpg)
EPS- 2.29 P/E- 18.25 P/C- 18.25 BOOK VALUE (Rs)- 27.34 PRICE/BOOK- 1.53 DIV (%)- 0.00 DIV YIELD (%)- 0.00 NPA (%)- 0.57%
6/5/2012 BANKING SECTOR OUTLOOK 115
Poor
Poor
Poor
Good
Good
Blank
Blank
Better
![Page 116: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/116.jpg)
Profit Margin- Quarterly – increased Half yearly- increased
Annual- increased FII’s investment increased. Other Investors have increased. Total Debt has increased from last year.
6/5/2012 BANKING SECTOR OUTLOOK 116
![Page 117: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/117.jpg)
Dividend has increased. Profit After Tax has increased. Unsecured loans have increased. Depreciation has decreased. Operating Profit has decreased. NPA has decreased.
6/5/2012 BANKING SECTOR OUTLOOK 117
![Page 118: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/118.jpg)
Short Term- Neutral Long Term- Neutral
6/5/2012 BANKING SECTOR OUTLOOK 118
![Page 119: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/119.jpg)
EPS- 3.19 P/E- 7.26 P/C- 6.83 BOOK VALUE (Rs)- 14.96 PRICE/BOOK- 1.55 DIV (%)- 50.00 DIV YIELD (%)- 2.16 NPA (%)- 0.25%
6/5/2012 BANKING SECTOR OUTLOOK 119
Poor
Poor
Poor
Good
Good
Good
Good
Better
![Page 120: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/120.jpg)
Profit Margin- Quarterly – increased Half yearly- increased
Annual- decreased FII’s investment increased. Other Investors have increased. Total Debt has decreased.
6/5/2012 BANKING SECTOR OUTLOOK 120
![Page 121: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/121.jpg)
Dividend has increased. Profit After Tax has increased. Unsecured loans have increased. Depreciation has increased. Operating Profit has decreased. NPA has increased.
6/5/2012 BANKING SECTOR OUTLOOK 121
![Page 122: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/122.jpg)
Short Term- Neutral Long Term- Under performer
6/5/2012 BANKING SECTOR OUTLOOK 122
![Page 123: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/123.jpg)
EPS- 14.65 P/E- 37.01 P/C- 35.39 BOOK VALUE (Rs)- 92.27 PRICE/BOOK- 5.88 DIV (%)- 10.00 DIV YIELD (%)- 0.09 NPA (%)- 0.72%
6/5/2012 BANKING SECTOR OUTLOOK 123
Poor
Poor
Poor
Average
Average
Average
Poor
Better
![Page 124: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/124.jpg)
Profit Margin- Quarterly – decreased Half yearly- decreased
Annual- increased FII’s investment increased. Other Investors have decreased. Total Debt has decreased from last year.
6/5/2012 BANKING SECTOR OUTLOOK 124
![Page 125: Research on banking sector by witty advisory](https://reader033.vdocuments.us/reader033/viewer/2022042816/5596302e1a28abba2e8b4575/html5/thumbnails/125.jpg)
Dividend is poor. Profit After Tax has increased. Unsecured loans have increased. Depreciation has increased. Operating Profit has increased. NPA has decreased.
6/5/2012 BANKING SECTOR OUTLOOK 125
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Short Term- Neutral Long Term- Under performer
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EPS- 6.87 P/E- 6.77 P/C- 6.87 BOOK VALUE (Rs)-24.67 PRICE/BOOK- 1.88 DIV (%)- 85.00 DIV YIELD (%)- 1.83 NPA (%)- 0.44%
Average
Average
Average
Good
Outstanding
Good
Average
Better
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Profit Margin- Quarterly – decreased Half yearly- decreased
Annual- decreased FII’s investment increased. Other Investors have increased. Total Debt has increased from last year.
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Dividend is good. Profit After Tax has increased. Unsecured loans have increased. Depreciation has increased. Operating Profit has increased. NPA has come down.
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Short Term- Neutral Long Term- Overweight
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The banking sector is under a tremendous pressure due to bad Non Performing Assets(NPA’s).
The Inflation is another big factor which is pulling the banking sector down.
The government is in a fix between controlling the inflation and increasing the industrial output because recent IIP nos. showed a great downfall of industrial growth.
The rating agencies downgrading the banks are creating further negativity in the market.
.
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The global cues are affecting the Indian market in a big way.
The strengthening of Dollar against Rupee is making the Indian economy fall and deviating the fiscal deficit target as proposed by FM.
THE GAAR problems have postponed for an year, now it will be implemented in FY14 which is a good news for the banking sector as now FII’s would start entering into the market more often than not.
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Although the banking sector is burning with pressure but still the RBI is making a clear effort of increasing the cash flow in the market as recently it has surprised the market by reducing the Repo and Reverse Repo rate by 50 bps.
The IIP nos. have forced the government to take this very step despite of huge Inflation rate.
The inflation nos. have shown some improvement recently so that would definitely encourage RBI to reduce rates further especially CRR.
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Our outlook is positive for banking sector in the long run.
We expect further cuts in the rates by RBI. Expect some new policies to be implemented
by the government which would enhance the cash flow in the country.
Banks are improving with their NPA nos. which is a good sign for the sector.
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Advantages - • Customers- Our greatest Assets. • Our Team- From every corner of the world, Diversity of backgrounds share their experience, skill to nurture our clients • Professionalism- We never treat our customers as friends because that would abolish our strength as Witty Advisory . • Commitment- To provide service, par extrovert to nurture the inner strength of investors.
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• Vision -
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