This is why Banking stocks are down?
Bank gross NPAs to touch 3.5% by March 2011: CARE, Reflecting the trend of sizable chunk of restructured assets turning into bad loans, rating agency CARE has pegged Indian banking sector’s gross non-performing assets (NPAs) at 3.5 per cent of gross advances by March 2011. http://www.business-standard.com/india/news/bank-gross-npas-to-touch-35-by-march-2011-care/405975/ * * *It expects 15 per cent restructured assets to be converted into NPAs in FY11. This was in addition to the normal system NPAs, CARE said. *Although domestic growth drivers continue to remain robust, the pace of global recovery continues to remain uncertain. Hence managing credit growth and asset quality while sustaining earnings growth would be key challenges for banking industry, it said. At the time of reviewing the banking sector’s performance for the nine months ended December 2009, CARE had projected gross NPA levels at 2.8 per cent (approx) by March 2010. The overall gross NPAs of all scheduled commercial banks (SCBs) stood at Rs 81,813 crore (2.5 per cent of Gross Advances) as on March 31, 2010. * * -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
