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tyler_durden
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Joined: 24/Oct/2006
Location: India
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Posts: 1615
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   Posted: 01/Sep/2007 at 11:52am |
Insider news  ....Anil ambani is having an eye on CBoP....i dont know whether its feasible or not..but in months to come we might see anil takin a stake in it....
ps: i hold this stock
Edited by tyler_durden - 02/Sep/2007 at 12:01pm
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If you aren't fired with enthusiasm, you will be fired with enthusiasm.
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basant
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Joined: 01/Jan/2006
Location: India
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Posts: 18403
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Posted: 02/Sep/2007 at 12:06pm |
Temasak of Singapore already has a tie up with Centurion Bank of Punjab so ADAG will have some competition there.
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'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in
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tyler_durden
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Joined: 24/Oct/2006
Location: India
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Posts: 1615
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Posted: 02/Sep/2007 at 12:29pm |
i didn't mention that hdfc bank has also shown interest....because at first even i didn't believed it is possible...why hdfc will show interest in CBoP??? any particular reason....2008 holds something big for this stock....performance wise it will be not be matchin the likes of yes bank but yes MnA will keep this stock alive....
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If you aren't fired with enthusiasm, you will be fired with enthusiasm.
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ramki830
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Joined: 01/Jan/2007
Location: India
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Posts: 76
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Posted: 03/Sep/2007 at 8:24pm |
Originally posted by tyler_durden
Insider news....Anil ambani is having an eye on CBoP....i dont know whether its feasible or not..but in months to come we might see anil takin a stake in it....
ps: i hold this stock |
Hey, with Anil Ambani, you can say that the phrase "not feasible" simply does not exist. However, CBoP , IMHO could be a can of worms, but ADAGs can digest even pythons ...
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ramki830
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Location: India
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Posts: 76
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Posted: 03/Sep/2007 at 8:24pm |
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Small Private sector banks both Old Generation and New generation ones could be takeover targets- think of bank of Raj, Karnataka Bank, and City Union Bank.
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basant
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Posted: 03/Sep/2007 at 8:36pm |
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How about Federal. it is like an orphan after ICICI has exited its stake from this one.
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'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in
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tyler_durden
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Posted: 03/Sep/2007 at 8:41pm |
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city union bank is a great target....and its growing at a good pace..
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If you aren't fired with enthusiasm, you will be fired with enthusiasm.
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Mohan
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Joined: 09/Feb/2007
Location: United States
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Posts: 1855
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Posted: 18/Sep/2007 at 6:21am |
Seems like the buyout games have begun....
| StanChart gets seven branches in India via Amex Bank buyout |
| | BS Reporter / Mumbai September 19, 2007 |
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| Standard
Chartered Plc today reached an agreement to acquire US-based American
Express Bank (AEB) for about $860 million in cash — a deal that would
give the British banking major seven additional branch licences in
India. | | | | “In areas where
certain travel-related operations are conducted through AEBL or a
subsidiary of AEBL, American Express is in the process of acquiring new
licenses and/or transferring the business to a different American
Express Company entity to ensure a smooth transition. These countries
include Argentina, Austria and India,” a spokesperson of American
Express said.
| | | | AEB, whose New
York-based parent company is the third-largest credit card network, is
a leading international bank present in 47 countries, including India.
The deal, however, will have no impact on American Express Bank
formidable presence in the credit card and travel business.
| | | | The deal will provide
StanChart an opportunity to add capability, scale and momentum in the
strategically important financial institutions and private bank
businesses. Among other benefits, the acquisition will include valuable
branch licences in India and Taiwan subject to regulatory approvals,
Stanchart said in a statement.
| | | | Standard Chartered is
the largest foreign bank in India with 81 branches against American
Express Bank’s seven branches, as of September 2006.
| | | | The branch
acquisitions will give Standard Chartered an edge in India as it would
have the largest branch network in India. Its competitors, HSBC and
Citibank, have 47 and 39 branches, respectively. The branch acquisition
is significant considering that the Reserve Bank of India allows
foreign banks to set up an average 12 to 14 branches annually. | | | | The asset base of the
merged entity in India will be around Rs 62,896.84 crore. AEB’s
employee strength in India was around 1,773 as on March 31, 2006.
| | | | Observers said apart
from the seven branches, the acquisition will boost StanChart’s
presence in the private banking space in India. The bank has been
betting big on this business and acquired UTI Securities, the retail
broking company, recently. | | | | Standard Chartered,
which entered the wealth management space in India in June 2007, plans
to launch this service in the top six cities by the end of 2008. The
foreign bank’s client assets under management is Rs 10,000 crore and it
wants to double the strength of relationship managers to 50 by the end
of the year. | | | | India has been a key
focus market for Standard Chartered, considering that the share of
Indian operations in the bank’s global profits increased to 12.6 per
cent in calendar 2006 from 8.8 per cent in 2005. |
Source : BS
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Be fearful when others are greedy and be greedy when others are fearful.
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