For all those who have been reading about how badly the mutual fund industry, life insurance industry and the banking industry are suffering….please look at the results of all the banks!
– Icici bank was more profitable because of the Rs. 350 crores from the life insurance arm
– Hdfc mutual fund is the biggest mutual fund, but Reliance is the most profitable in the country
– Banks are fighting with each other to increase interest rates on the savings bank account – Kotak Bank and Yes Bank are willing to pay 6% p.a. vs 4% by SBI…- showing the kind of margins that are still available in the banking industry.
-Sundaram Finance and Cholamandalam Finance have both reported a nice jump in their eps by a nice percentage…
I stick to my view – as in the title – BANKING IS VERY VERY PROFITABLE….and in the US it is even better. They get fixed deposits (guaranteed by the government) with which they write derivative contracts – when they fail the government bails them out….LOL
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