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6 Key Takeaways of "Bank of India" Q3 Result in this🧵

1) Banks make money by charging more interest on loans they give out than the interest they pay to people who save their money in the banks.

Interest Income = Interest Earned - Interest Expended

#bankofindia #earnings
Hence, Interest income is an important number for a bank to look at.

Bank of India made 64% more money from interest income compared to last year which is a very big positive for the bank.

Interest Income stands at 5,596 crores.
2) Regardless of huge growth(64%) in interest income, Net Profit only grew up by 12% from last year to approx. 1,151 crores which is concerning.

Reasons:

▶️ Non- interest income declined by 22% YoY

▶️ More provisions for bad loans are accounted as compared to last year
Read 8 tweets
Have you ever felt that you have lived the present situation before? Its called #Déjàvu. Right now I'm experiencing this moment in the markets. #PSUBanks are going through tough times. But this isnt new. They were in a similar situation back in 2016. (1/n)
#PSUBanks were dealing with NPA's and losses in Mar 2016. Their troubles are amplified after the #COVIDー19 outbreak. But it seems worst is over. Here's a weekly chart of #NiftyPSUBank index. (2/n) ImageImage
#PSUBanks are forming bullish divergence in #RelativeStrengthIndex(RSI) on weekly charts. #RSI is a momentum indicator. Bullish divergence in it indicates that ongoing downtrend is losing steam. It doesnt guarantee a reversal but increases the chances. (3/n) Image
Read 12 tweets
My thread 👇 on #RBIPolicy,the need to hold rates steady for now&analysis of #CanaraBank and #BankofIndia Nos

What is amply clear is,be it #SBI,#HdfcBank,Axis,or smaller Public Sector banks,there has been a dramatic improvement in #AssetQuality,which bodes well

#EconomyOnTrack
BIG decision by #RBI,is bringing #StartUps under priority sector lending--out of the box move

Move to give 5000Cr addnl liquidity to #Nabard&5000Cr to #NHB,will help agri&real estate

Decision to set up #InnovationHub will help tech innovation&ideation

@narendramodi govt cares!
In April 2020,@narendramodi govt infused 50000Cr,of which 25000Cr was for #NABARD to support #RRBs&MFIs

15000Cr was for #SIDBI,for refinancing financial entities who lend to #MSMEs

#NHB was given 10000Cr to support #HFCs

Today's 10000Cr is over&above this 50000Cr💪

#economy
Read 6 tweets
#RBIPolicy at 12pm today,is likely to keep status quo on #REPO rate, which was last lowered by 40bps in May 2020,to 4%

In 2020,REPO cut by a total of 115bps

In 2019 REPO cut by 135bps

What may weigh on #MPC's mind is #Inflation,which was 6.09% in June 2020 Vs 5.84%,in March'20
Some like #ICRA predicting 25bps REPO cut,saying #RBI may want to be ahead of the curve,despite build up of inflationary pressures

Well,10 Yr #BondYield was 5.83% y'day

Today 10 Yr@5.84%--Bond markets are clearly not expecting rate cut

#REPO at 4%,is already lowest in 20yrs
As expected, #RBIPolicy leaves #REPO& Reverse REPO unchanged

Right thing to do,as further reduction in rates at this stage, would have distorted #YieldCurve

Already,3 month #MCLR of #SBI is 6.65%& 1 yr at 7%

#MonetaryTransmission is happening,so more cuts not needed currently
Read 5 tweets

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