Greek Problem – Potential for Sizeable Correction World Markets
Greece, one of the great tourist destinations for all of us is in great problem. Much has been talked about its Sovereign Debt coming up for payment and the country with empty coffers is unable to take the next step. Lets have a deeper insight into the problems of Greek.
How is Current Greek Crisis Different ?
First, the previous Greek administration under reported fiscal spending. Following the change in the Greek government in October last (more…)
Union Bank of India’s 4Q10 was a strong earnings show – profits were up 28% yoy (17% above our estimates), driven by sharp NIM expansion and healthy fee growth. Core operating profits (pre-provisioning profits ex trading gains) were also robust (+65% yoy). The balance sheet, however, was mixed – NPLs increased sharply, coverage levels were down, but there were improvements in funding mix and credit growth (+23% yoy). Overall, the strong NIM jump seems to have offset the pressure on asset quality; but only for now. 
Lupin’s Recurring PAT was in line at Rs2.2bn (+39% YoY), driven by Antara & generic Lotrel sales in the US. Sales grew 24% YoY on the back of 18% higher formulation sales in advanced markets. EBITDA margin expanded 173 bps, despite higher R&D spend, on improved product mix (higher branded sales & generic Lotrel).
ICICI Bank may consider acquiring Bank of Rajasthan (BoR), whose promoters are being pushed by the Reserve Bank of India (RBI) to offload their stake. If the deal were to go through, then what are the synergies and over lapses, lets analyze – ICICI Bank’s 2,000 branch network would be complemented by BoR’s 463 branch network. Of these 463 branches 102 branches are in rural areas, 90 branches are in semi-urban areas and 142 branches are in urban areas.