will government's massive surge in investment ... - Myiris.com

Apr-Jun 2013 Earnings Preview
Difference between loan and deposit growth have narrowed
Credit growth
Deposit growth
Weak trends continue in sectoral credit
growth
28.0%
23.0%
18.0%
13.0%
8.0%
Dec-07
Apr-08
Aug-08
Dec-08
Apr-09
Aug-09
Dec-09
Apr-10
Aug-10
Dec-10
Apr-11
Aug-11
Dec-11
Apr-12
Aug-12
Dec-12
Apr-13
Source: RBI
No base rate cut by banks in 1Q13....some
have moved on FinMin and RBI’s dictat in
Jul‐13
Base rates remain sticky despite the softening seen in wholesale funds as deposits rates
remain high
Nov‐12 Dec‐12 Feb‐13 Mar‐13 Apr‐13 May‐13 Jun‐13 Jul‐13
ICICI 9.75% 9.75% 9.75% 9.75% 9.75% 9.75% 9.75% 9.75%
HDFCB 9.80% 9.80% 9.70% 9.70% 9.60% 9.60% 9.60% 9.60%
Axis 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
PNB 10.50% 10.50% 10.25% 10.25% 10.25% 10.25% 10.25% 10.25%
BOB 10.50% 10.50% 10.25% 10.25% 10.25% 10.25% 10.25% 10.25%
BOI 10.50% 10.50% 10.25% 10.25% 10.25% 10.25% 10.25% 10.00%
SBI 9.75% 9.75% 9.70% 9.70% 9.70% 9.70% 9.70% 9.70%
IndusInd 10.75% 10.75% 10.75% 10.75% 10.75% 10.75% 10.75% 10.75%
Yes 10.50% 10.50% 10.50% 10.50% 10.50% 10.50% 10.50% 10.50%
Union Bank 10.50% 10.50% 10.25% 10.25% 10.25% 10.25% 10.25% 10.25%
Source: Media reports, Company
Deposit rates unchanged – SBI had to change back deposit rates which it cut 4‐5 mts back
9.00
Dec-12 Mar-13 Current
8.00
7.00
6.00
5.00
4.00
3m 6m 1yr 3yr
Source: Bloomberg, SBI
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