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RBIs imposition of an incremental cash reserve ratio will lead to the impounding of deposits that weighed on the banking stocks. Since the announcement, the Nifty Bank Index has shed nearly 2% as against Nifty 50s 1.2% fall (August 22 data), while HDFC Bank has slid around 4% — the most among its banking index peers.
"NIM contraction might be very marginal in HDFC Bank. Advances growth should be extremely strong. Again, purely in terms of their advances and deposit growth, the numbers are pretty humongous . All the tech issues are largely behind them. Even if valuations are at a premium, which it has always commanded, the second half numbers should be relatively better."
Nuveen Select Maturities Municipal Fund (NYSE:NIM – Get Free Report) declared a monthly dividend on Tuesday, August 1st, Wall Street Journal reports. Stockholders of record on Tuesday, August 15th will be given a dividend of 0.026 per share on Friday, September 1st. This represents a $0.31 dividend on an annualized basis and a dividend yield […]
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Sharply higher official interest rates have yielded record profits for banks, as the cost of loans soared while lenders held off paying more on deposits
Pune-based Bank of Maharashtra posted the highest NIM of 3.86 per cent, followed by Central Bank at 3.62 per cent and Indian Bank at 3.61 per cent during the quarter.