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Indian Banks – Results Expectations

July 5, 2007

The results expectations for quarter ended June-30th from Indian Banking sector according to Citgroup research is as follows.

The top consistent performers are likely to be,
Punjab National Bank is expected to report Rs 405 crore Net Profit for Q12008. 10% increase YoY and 71% increase on QoQ basis.

Bank of Baroda is expected to report Rs 270 crore Net Profit for Q12008. 66% increase YoY and 10% increase on QoQ basis.

State Bank of India is expected to report Rs 1163 crore Net Profit for Q12008. 46% increase YoY and 22% decrease on QoQ basis.

The scenario is quite negative when it comes to private sector banks. All of them are likely to underperform compared to quarter ending March-2007.

ICICI Bank is expected to report Rs 696 crore Net Profit for Q12008. 12% increase YoY and 16% decrease on QoQ basis.

HDFC Bank is expected to report Rs 320 crore Net Profit for Q12008. 33% increase YoY and 9% decrease on QoQ basis.

UTi/Axis Bank is expected to report Rs 165 crore Net Profit for Q12008. 37% increase YoY and 22% decrease on QoQ basis.

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