Centurion BoP Q1 net profit seen at Rs 39.7 cr

Citigroup Research has come up with its earning estimates on the banking sector for the Q1FY08. According to the report, Centurion Bank of Punjab is expected to post net profit of Rs 39.7 crore (Rs 397 million ), up 38% ,YoY.

During the same quarters, its net interest income is seen up 33% at Rs 164.3 crore (Rs 1,643 million ), YoY.




UTI Bank Q1 PAT seen up 37% at Rs 165.6 cr

Citigroup Research has come up with its earning estimates on the banking sector for the Q1FY08. According to the report, UTI Bank is expected to post net profit of Rs 165.6 crore (Rs 1,656 million ), up 37%,YoY.

During the same quarters, its net interest income is seen up 34% at Rs 431.4 crore (Rs 4,314 million), YoY.




Citigroup expects HDFC Bank Q1 PAT seen at Rs 319.1 cr

Citigroup Research has come up with its earning estimates on the banking sector for the Q1FY08. According to the report, HDFC Bank is expected to post net profit of Rs 319.1 crore (Rs 3,191 million ), up 33%,YoY.

During the same quarters, its net interest income is seen up 42% at Rs 1162.2 crore (Rs 11,622 million), YoY.




Kotak Mahindra Bank Q1 PAT seen at Rs 157.6 cr

Citigroup Research has come up with its earning estimates on the banking sector for the Q1FY08. According to the report, Kotak Mahindra Bank is expected to post net profit of Rs 157.6 crore (1,576 million), up 51% ,YoY.

During the same quarters, its net interest income is seen up 69% at Rs 355.4 crore (3,554 million), YoY.




ICICI Bank Q1FY08 PAT seen at Rs 696.3 cr

Citigroup Research has come up with its earning estimates on the banking sector for the Q1FY08. According to the report, ICICI Bank is expected to post net profit of Rs 696.3 crore (Rs 6,963 million ), up 12%,YoY.

During the same quarters, its net interest income is seen up 24% at Rs 1829.6 crore (Rs 18,296 million), YoY.




Federal Bank Q1 PAT seen up 105% at Rs 82.4cr

Citigroup Research has come up with its earning estimates on the banking sector for the Q1FY08. According to the report, Federal Bank is expected to post net profit of Rs 82.4 crore (Rs 824 million), up 105%,YoY.

During the same quarters, its net interest income is seen up 38% at Rs 219 crore (Rs 2,190 million ), YoY.




Canara Bank Q1 net profit seen at Rs 220.4 cr

Citigroup Research has come up with its earning estimates on the banking sector for the Q1FY08. According to the report, Canara Bank is expected to post net profit of Rs 220.4 crore (Rs 2,204 million ), up 15%,YoY.

During the same quarters, its net interest income is seen up 12% at Rs 1060.8 crore (Rs 10,608 million), YoY.




Corporation Bank Q1 PAT seen at Rs 148.5 cr

Citigroup Research has come up with its earning estimates on the banking sector for the Q1FY08. According to the report, Corporation Bank is expected to post net profit of Rs 148.5 crore (Rs 1,485 million), up 3%,YoY.

During the same quarters, its net interest income is seen up 23% at Rs 401crore (Rs 4,010 million ), YoY.




SBI Q1FY08 PAT seen up 46% at Rs 1163.8 cr

Citigroup Research has come up with its earning estimates on the banking sector for the Q1FY08. According to the report, State Bank of India, SBI is expected to post net profit of Rs 1163.8 crore (Rs 11,638 million ), up 46%,YoY.

During the same quarters, its net interest income is seen up 14% at Rs 4437.2 crore (Rs 44,372 million), YoY.




Citigroup expects BoB Q1 PAT up 66% at Rs 270.3 cr

Citigroup Research has come up with its earning estimates on the banking sector for the Q1FY08. According to the report, Bank of Baroda is expected to post net profit of Rs 270.3 crore (Rs 2,703 million), up 66%,YoY.

During the same quarters, its net interest income is seen up 25% at Rs 1106.5 crore (Rs 11,065 million), YoY.




PNB Q1FY08 net profit seen up 10% at Rs 405.3 cr

Citigroup Research has come up with its earning estimates on the banking sector for the Q1FY08. According to the report, Punjab National Bank, PNB is expected to post net profit of Rs 405.3 crore (Rs 4,053 million ), up 10%,YoY.

During the same quarters, its net interest income is seen up 10% at Rs 1422.4 crore (Rs 14,224 million ), YoY.




Oriental Bank Q1 net profit seen at Rs 72.9 cr

Citigroup Research has come up with its earning estimates on the banking sector for the Q1FY08. According to the report, Oriental Bank of Commerce is expected to post net profit of Rs 72.9 crore (Rs 729 million) down 22%,YoY.

During the same quarters, its net interest income is seen up 13% at Rs 462.4 crore (Rs 4,624 million ), YoY.




Citigroup expects Union Bank Q1 net profit at Rs 217 cr

Citigroup Research has come up with its earning estimates on the banking sector for the Q1FY08. According to the report, Union Bank is expected to post net profit of Rs 217.1 crore ( 2,171 million ), up 30% ,YoY.

During the same quarters, its net interest income is seen up 32% at Rs 839.3 crore ( 8,393 million), YoY.



Andhra Bank Q1 PAT seen up 13% at Rs 131.1 cr

Citigroup Research has come up with its earning estimates on the banking sector for the Q1FY08. According to the report, Andhra Bank is expected to post net profit of Rs 131.1 crore (1,311 million ), up 13%,YoY.

During the same quarters, its net interest income is seen up 15% at Rs 385.1 crore ( 3,851million), YoY.





Citigroup Research report on banking sector:

An eventful quarter, though it's been business as usual

1QFY08 has not been dull, with a) Regulatory changes – New Basle 2 norms, which should drain capital; b) Volatile liquidity – from a tight squeeze to almost free overnight money; c) Loan and deposit growth gap – which has almost been bridged; and d) Large capital raising – announced and effected. In all this though, we believe the banks have had an operationally stable, and healthy, quarter.

25% net profit growth, 23% at pre-provisioning levels

We expect our bank universe to grow profits 25% yoy – driven by NII growth (asset expansion – stable margins), fee momentum, and lower bond charges and taxes (high base effect). The offsets are higher operating costs; and an across the board increase in loan loss provisioning. Pre-provisioning (ex-trading gains), should also be a healthy 23%. This growth should be in-line with broader India market growth, which we estimate at 25% for 1QFY08 (ex-oil).

Private banks - leading asset growth, matching profit expansion

We expect profit expansion for the private banks as a group be in-line with the Government Banks. Though they should score on asset growth, fee incomes – and meaningfully lag on cost increases. We maintain our overweight stance on Indian Banks, and highlight our 1QFY08 earnings estimates for individual banks, private and Government Banks groups, and the sector.