Thursday, August 21, 2008

ICICI Bank NPAs rising alarmingly

The gross/net NPA for ICICI bank are rising alarmingly.

ICICI BankAxis BankHDFC Bank
Sep 20072970.94280.68243.74
Dec 20073227.82234.26279.78
Mar 20083490.55248.29298.52
Jun 20084033.57325.66496.07

Till March, increase was 250 Crore every quarter, in the last quarter it was 550 Crore. The interest rates have actually started pinching only after June, when CRR and Repo rate were increased resulting in interest rates rising by 0.75% on Housing and Car Loans. May be we will see an increase of over 1000 Crore in Sep 2008 quarter. The figures for Axis Bank and HDFC Bank looks much better. The total non performing assets of HDFC Bank is being added every quarter in the balance sheet of ICICI Bank, this too after a big selling of NPAs to ARCIL (around 9000 Crore till 2006).
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