External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>ICICI Direct research report onUnion Bank of India Registered in 1919 and amalgamated with Andhra Bank and Corporation Bank in 2020, Union Bank of India is a public sector bank with diversified financial services to cater to customers across segment.</li><li>Global business mix stands at ₹20.7 lakh crore; advance book at ₹9.96 lakh crore.</li><li>Bank has large presence with employee base of ~76,300, pan India presence with 8,479 branches and 9,889 ATM. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

ICICI Direct research report onUnion Bank of India Registered in 1919 and amalgamated with Andhra Bank and Corporation Bank in 2020, Union Bank of India is a public sector bank with diversified financial services to cater to customers across segment.Global business mix stands at ₹20.7 lakh crore; advance book at ₹9.96 lakh crore.Bank has large presence with employee base of ~76,300, pan India presence with 8,479 branches and 9,889 ATM. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Union Bank of India  - Continued Healthy Growth and Steady RoA to Drive Valuation...

External broker reports(aggregated public sources), CMB International

CMB International

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

Thematic (Sector/Industry)

<ul><li>In the third and last part of our trilogy on Asian AT1s, we turn our focus to AT1s in Asian emerging markets (EMs) including India, Indonesia, Philippines and Thailand.</li><li>Compared with that of Chinese G-SIBs and Asian DMs, the return predictability of AT1s in Asian EMs are lower.</li><li>Hence, our analytical approach in Asian EM AT1s will be more “bottom-up”.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

In the third and last part of our trilogy on Asian AT1s, we turn our focus to AT1s in Asian emerging markets (EMs) including India, Indonesia, Philippines and Thailand.Compared with that of Chinese G-SIBs and Asian DMs, the return predictability of AT1s in Asian EMs are lower.Hence, our analytical approach in Asian EM AT1s will be more “bottom-up”.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>UNBK reported a 21% YoY growth in PAT at INR18.5b in 2QFY23 (10% beat), driven by higher NII and other income and tax reversals.</li><li>However, the same was offset by higher than expected provisions.</li><li>However, fresh slippages moderated by 31% QoQ, led by lower Corporate and Retail slippages.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

UNBK reported a 21% YoY growth in PAT at INR18.5b in 2QFY23 (10% beat), driven by higher NII and other income and tax reversals.However, the same was offset by higher than expected provisions.However, fresh slippages moderated by 31% QoQ, led by lower Corporate and Retail slippages.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Union Bank of India - Earnings Beat Driven by a Healthy Operating Performance

India

Union Bank of India Limited provides a full range of banking services throughout India. The Company's activities include retail banking, commercial and personal banking, investment management, treasury and NRI services, cash management and assorted ATM facilities. Union Bank has an online tele-banking facility for all its core banking customers.

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Union Bank Of India (UNBK IN)

Union Bank of India - Continued Healthy Growth and Steady RoA to Drive Valuation...

ICICI Direct research report onUnion Bank of India Registered in 1919 and amalgamated with Andhra Bank and Corporation Bank in 2020, Union Bank of...

ICICI Securities Limited

Asian AT1s Part III – Picks on EM AT1s

In the third and last part of our trilogy on Asian AT1s, we turn our focus to AT1s in Asian emerging markets (EMs) including India, Indonesia,...

CMB International

Union Bank of India - Earnings Beat Driven by a Healthy Operating Performance

UNBK reported a 21% YoY growth in PAT at INR18.5b in 2QFY23 (10% beat), driven by higher NII and other income and tax reversals.

Motilal Oswal

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