#ICICIBank to raise capital;Last time it raised capital was 20000Cr,in 2007
Capital Raising in 2020👇
#SBI to raise 20000Cr
#BoB,13500Cr
#AxisBank,15000Cr
L&T Finance,2000Cr
#HdfcLtd to raise 14000Cr
#KotakMahindraBank has already raised 7442.5Cr,#IDFC,2000Cr&JM Finance,770Cr
#IndianBanks are expected to raise between $20-$50bn in 2020
#Fitch says,Indian banks need about $20bn,with PSBs alone needing $13bn
Capital raising by Banks is hence great news,as it will boost #CAR& bring down rising credit cost from bad loans,in aftermath of #COVID
#Banks
Various measures by @narendramodi govt in last 6yrs have empowered Indian Banking
14000Cr to be raised by #HdfcLtd for example,will be for inorganic growth opportunities
#HdfcBank for June qtr,saw 21% growth in advances,25% in deposits,with #Casa@ 40%
Banks,looking healthier💪
#HdfcBank reported good results for March2020 qtr,with 18% growth in profit&16% in NII
#NetInterestMargin was solid 4.3%,with operating profit growth of 19.51%
Both Gross&Net NPAs fell 12-16bps QoQ,implying better #AssetQuality
And all this,despite #Provisions rising by 24%!
#SBI,benchmark of banking sector's health,saw #NetProfit of Rs3581 Cr in Q4FY20,up 327% YoY
For FY20,profit was highest ever,at 14488 Cr💪
#OperatingProfit rose to 68133 Cr in FY20,up 22.90% YoY
#GNPAs in 4Q@6.15%,fell 78bps YoY&42bpsQoQ
#NNPAs@2.23% fell 138bps YoY&79bps QoQ
#Slippages Ratio for SBI for FY20 fell to 2.16% from 2.42%,at end of 9MFY20.
#CreditCost in FY20 fell 79 bps YoY to 1.87%.
Cost to Income Ratio fell from 55.70% in FY19 to 52.46% in FY20
#CAR went up 34bps,to a good 13.06%
#PCR@solid 83.62%,was up 489bps YoY&189bps QoQ💪
NII of #SBI grew 11.02% YoY in FY20.
Net Interest Margin rose to 3.19% in FY20,up 24 bps YoY
Non-Interest Income for FY20 at 45221Cr,up 22.97% YoY
Home loan portfolio grew 13.86%
In short,SBI's stellar numbers vindicate banking sector turnaround under the @narendramodi govt
#SBI is largest bank,accounting for 20%+ of banking business in India
True,4Q20 profit was high due to one time gain of 2731Cr
But excellent FY20 results with provisions down 31.4%,due to lower bad loans,signal that reforms of last 6yrs by @narendramodi govt are bearing fruit💪
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