Same turnover, the glitch in NPas was minor and they are back to 0.7%, Sales are tired holding NII and fee based income up 15% y-o-y , definitely the bank mapped by the bears on India as representative and definitely not a good future for growth in either Credit or deposits. Insurance, brokerage and allied businesses continue to score in hinterlands of ethics and brand remains Uday, upfront and sincere..a window to India’s wealthy’s expectations in a scam riddled nation. Anyway I do not know if they are ever going to even attempt strategising very sure they are right about everything and traditional markets of wealth being their only succour even though the Gujjus keep spurning them. Is a Swiss bank tax haven actually our basis for the bank of the future if it is not over dependent on technology?
New bank licences will probably end up as modified NBFCs and I do not say glorified as Kotak’s example shows, everyone wants only Cosmo branches and traditional markets and then insight pebnetrates only 5% of the market. Sahara anyone?
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