In today’s briefing:
- IndiaFirst Life Insurance Pre-IPO Tearsheet
- Indian Banks Screener to September-End 2022: Credit Delinquency in Check, for Now
IndiaFirst Life Insurance Pre-IPO Tearsheet
- IndiaFirst Life Insurance (1083896D IN) is looking to raise about US$250m in its upcoming India IPO. The deal will be run by ICICI, Ambit, BNP, BOBCap, HSBC, Jefferies and JMF.
- IndiaFirst Life Insurance (IFLI) Is a private life insurer in India with a product portfolio of retail and group products, ranging across different segments.
- The company’s retail product portfolio in India comprises nine participating products, 16 non-participating products (comprising 11 nonparticipating savings products and six non-participating protection products) and four unit-linked products.
Indian Banks Screener to September-End 2022: Credit Delinquency in Check, for Now
- Our Indian bank profitability and credit quality screens, in terms of credit quality metrics to end-September 2022, continued in a constructive vein, although pre-provision profitability trends generally softened
- The solid macro-economic backdrop has supported credit quality to September-end, as the declining NPA ratios and cost of risk show; yet India may be approaching peak level for its macro-indicators
- Much good news is discounted by the macro and easy credit conditions; we are negative on State Bank of India and ICICI Bank, but we remain positive on HDFC Bank
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