...Quebec’. There is no doubt that James Wolfe was a tremendous leader. He certainly has the history to prove it. He was not however, the best tactician. He had joined the army at the age of fifteen and he was a Lieutenant Colonel and commanding his own regiment by the age of twenty-three. Francis Parkman describes Wolfe as “ardent, headlong, void of fear, often rash, almost fanatical in military duty, and reckless of life when the glory of England of his own was at stake”. He contains the qualities necessary to lead an army and did so quite effectively. His army stood triumphant at the end of the fighting but the British did not really win the battle; the French lost it. Montcalm had the numbers, he had the geography but he didn’t have the strategy. According to the American historian Francis Parkman the French had The French army contained sixteen thousand men while Wolfe’s army had only nine thousand. The number of men Wolfe actually commanded was eight thousand five hundred and thirty five according to an account by a volunteer in this fight. With the...
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...Exploratory Study in RHB Bank Lecturer: Dr.Mirza Manirajah Abdullah Prepared by Student Name: LEE LIAN SENG I/C NO: 710414-10-5663 RIVERBANK ACADEMY SDN BHD NO 3-3 & 5-3, JALAN PUSAT PERNIAGAAN 1, PUSAT PERNIAGAAN SG.JELOK, 43000 KAJANG SELANGOR TEL: 03-87375009 FAX: 03-87395418 WEBSITE: www.riverbankacademy.com.my EMAIL: info@riverbankacademy.com.my 1 CONTENTS DESCRIPTION PAGE Introduction To RHB Bank Introduction to Job Motivation and Job Performance page 6 Purpose of Study page 6 Problem Statement page 6 Objective of Study page 8 Limitation of Study page 8 Literature Review page 9 Discussion Page 17 Methodology & Hypothesis of Study page 35 Sampling Procedures page 35 Data Analysis page 39 Summary and Conclusions page 43 Recommendations page 44 page 2 2 Introduction Although formed in 1997, our roots go back in time to the early 90s. Many events since that time have moulded us into the bank we are today. Below is brief run-through of the important dates and events in the history of the RHB Banking Group which include mergers and partnerships with other banks that have ultimately lead to the RHB Banking Group that we are today. Kwong Yik Bank Berhad 1913 - Established with a start-up capital of RM300,000 at the Old Market Square in Kuala Lumpur, making it Malaya's first local bank 1997 - Merges with DCB Bank Berhad, making it the country's biggest ever banking merger at that time Sime Bank Berhad (formerly known as UMBC Bank) 1959 - A...
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...board on the PSU banks ‘bribery for loans’ scam, 2G and MFI loans, liquidity concerns and rising G-Sec yields. However, one has to take a call on whether the sector will keep correcting further. We believe the sector will continue to remain under pressure in the near term where stocks may not give a sharp bounce-back but shall remain around these levels until we are able to see a sharp uptick in credit and deposits growth alongside pressure on yields easing off. Exhibit 1: Tight liquidity, short term rates up – longer term still better off 10 9 8 (%) 7 6 5 4 3 30-Nov-09 31-May-10 31-Aug-10 31-Mar-10 30-Nov-10 30-Sep-10 31-Oct-09 31-Jan-10 31-Dec-09 30-Jun-10 28-Feb-10 30-Apr-10 31-Oct-10 31-Jul-10 Bank Nifty Nifty (RHS) Repo Source: Bloomberg, ICICIdirect.com Research 1 Yr Gsec 3M CD 10 Yr Gsec The recent bribery for loans scam concern, mounting pension liabilities remain an overhang on the sector. We expect a reduction in valuation multiples of PSU banks, particularly midcap PSU banks. Their range of 1.5x-2x may shift to 1.4-1.8x. We recommend investors buy large cap stocks like HDFC Bank (higher CASA and corrected), Bank of Baroda (strong asset book) and among other midcaps Oriental Bank of Commerce (cheap valuation) and Development Credit Bank (sharp correction and turning profitable) in current market conditions. Exhibit 2: Banking stocks - Price Correction Bank Bank of Baroda Bank of India Dena Bank IDBI Indian Overseas Bank Oriental Bank of Commerce...
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...NATIONAL UNIVERSITY OF SINGAPORE NUS BUSINESS SCHOOL Department of Finance BMA5318: Investment Banking (Summer I: May-June 2012) Instructor: Banikanta Mishra Office: BIZ 1 Level 7-77 Telephone: +91-943-707-5075 E-mail: banikant@ximb.ac.in Prerequisite: BMA5008 (Financial Management) COURSE SYNOPSIS: This course is a blended introduction to Investment Banking (IB). It would combine theory and practice. To buttress our understanding of practice, we would do some case studies and also have practitioners give a Street Talk every week; some of them may discuss live projects and I may pitch in with my experience with past ones I have been directly involved in. Moreover, we would have both qualitative and quantitative discussions on most topics, the latter mainly being numerical examples (not any rocket science or high-flying calculus). Though we would talk about the global scenario, our focus, whenever possible, would be on Asia. After gaining an idea into what IB is and understanding the basics of Trading, we would study in detail the capital-raising process, mainly Underwriting and Syndication. Here, we would learn about IPO and SEO and ADR and GDR as well as about NIF and RUF. We would also get familiar with Euromarket and the innovative Euro instruments like Euronote and Euro-CP as well as Eurobond and Euroequity. This would also give an opportunity to get a glimpse into Financial Engineering in debt and equity instruments as well as about Structured...
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...Contents Section Background Executive Summary 1 2 3 4 Introduction The Importance of Rural Banks Recent Performance of the Rural Banking System Reforms and the Rural Banks 4.1 A huge effort to reform the cooperative system 4.2 Sensible proposals for reorienting the Regional Rural Banks but… 5 Will Reforms Enable Inclusion? 5.1 Cooperative reform – is it good money after bad? 5.2 RRB reform – has the inclusion objective been sidelined? 6 Conclusion Page v vii 1 3 7 8 8 12 15 15 17 18 M-CRIL Review of Rural Banking in India Background This study follows from the discussion of issues in the performance of Regional Rural Banks (RRBs) written by Sanjay Sinha, Managing Director, M-CRIL and published in The Economic Times (newspaper) on 17 March 2007. In relation to financial inclusion, many of the issues raised there affect the performance of cooperative banks as well as the RRBs. These issues include • The effect of government ownership of RRBs on their ability to operate efficiently and effectively to fulfil the financial inclusion mandate; the domination of (district) cooperative bank managements by government functionaries and by landed elites with (usually) little interest in financial inclusion. Social control of interest rates on small value loans (less than Rs2 lakhs); the restriction on interest rates that can be charged by commercial banks on small value loans means that rural bank managements also feel...
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...Management Information System for MFIs 1.0 Background A good Management Information System (MIS) is the heart of any organization and this is true for MFIs as well. For e.g. MFIs may have capable and motivated staff, but if they lack systematized information, they will be unable to perform up to their potential. A sound MIS is the key to achieve sustainability as it helps in providing the right type of information in achieving sustainability. It helps in reducing default, optimal rotation of portfolio, establishing sustainable interest rates, improving operational efficiency, generating reports at various levels for various stakeholders and review the progress. (Box 1). Common Shortcomings observed in the Information Management Practices: 1.) The basis formats are not comprehensive of them could be combined. 2) The flow and logistic aspects of transfer of information from Society to Federation to HQs and vice versa is not very efficient. 3) The reports produced by the MIS are not in line with the best practices information required. 4) There is no accurate aging analysis of all loans including the past due loans. At best, the aging analysis is approximate and there is no proper asset classification backed up by provisioning. 5) Clients are not classified as good, delinquent and defaulting borrowers based on (international best practices) criteria. 6) Credit history of the borrowers is not available. 7) Clear repayment schedules for borrowers at various levels do not exist...
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...Table of Contents Abstract iii CHAPTER ONE 1 INTRODUCTION 1 Problem Statement 2 Rationale for the choice of topic 2 CHAPTER TWO 3 LITERATURE REVIEW 3 HOUSE FINANCE GLOBAL VIEW 3 HOUSING STRATEGY 4 CONDITIONS TO FACILITATE LENDING 8 DEMAND AND SUPPLY FOR HOUSING 8 TANZANIA HOUSING FINANCE THEORY 10 CHAPTER THREE 12 FINDINGS 12 Demand for housing finance 12 Current Condition in Tanzania 12 Access to Housing Finance 13 HOUSING POLICY AND HOUSING MARKET 14 ACCESS TO HOUSING FINANCE MAIN CHALLENGES 18 CHAPTER FOUR 21 CONCLUSIONS 21 References; 22 Abstract We examine the extent to which markets enable the provision of housing finance across a wide range of Regions in Tanzania. Housing is a major purchase requiring long-term financing, and the factors that are associated with well functioning housing finance systems are those that enable the provision of long-term finance. Across all countries, controlling for country size, we find that countries with stronger legal rights for borrowers and lenders (through collateral and bankruptcy laws), deeper credit information systems, and a more stable macroeconomic environment have deeper housing finance systems. These same factors also help explain the variation in housing finance across emerging market economies. Across developed countries, which tend to have low macroeconomic volatility and relatively extensive credit information systems, variation in the strength of legal rights helps explain the extent of housing finance...
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...may be defined as the provision of financial services by a financial intermediary on the basis of long-term investment in obtaining firm or customer specific information through multiple interactions with diverse financial services (Boot, 2000). E- Enabled Relationship banking system refers to use of Information Technology and especially the internet. Customers could get connected by a network service provider directly to a host computer system of a bank such that customer service requests can be processed automatically without need for intervention by customer service representatives. Most of these systems are capable of distinguishing between those customer service requests which are capable of automated fulfillment and those requests which require handling by a customer service representative. Marketing is different from selling mainly in terms of orientation. In selling the efforts are product centred where as customer centric is the key to marketing. Marketing starts with target market and earns through customer satisfaction. Bank credit is a service product and not a physical product like soap. The service product is difficult to market because it is intangible, perishable (ends with single transaction), its heterogeneity makes each service transaction unique. The service is inseparable from the delivery agent. The ownership of the product cannot be transferred to another person. For example: A customer enters for updating of pass-paper. This is one transaction. He expects...
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...factor now and in the future will be the policy of the ECB, which is dual; fight of inflation at the expense of economic growth or vice versa. How long the policy of the ECB can count on the trust of its members depends largely on movements in the world economy, the financial markets and the ability of policy makers to shroud the efforts in political correctness. ii. Table of contents i. Executive Summary p. 2 ii. Table of Contents p. 3 iii. Preface p. 4 1. Euro History p. 6 2. The European Monetary System p. 7 3. The early nineties currency crisis p. 8 4. Convergence program p. 10 5. Launch of the euro as a currency p. 12 6. The benefits of the euro p. 16 7. European Central Bank Policy and promises p. 23 8. The future of the European Monetary System p. 25 9. Conclusion p. 27 10. Bibliography...
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...excellence bank strategy? What strategy as it applies to banking? Is it because of new competitors entering the financial services market made new approaches to servicing corporate clients? There are a lot of questions comes into our mind but we will answer all the questions later. For your information, banks potray themselves as a “One Stop Financial Services Centre”. Banks no longer remain in their traditional service market because they are now more aggressive in providing a full menu of services that will cater for its customer’s needs. Therefore, what is the type of services that bank provide for their customers that make them satisfied with the speed efficiency and cost involved? Then, as described in the chapter 2, we can conclude that the main goal of any financial service organization is to create for itself a “sustainable competitive advantage” in the market place. So, in order to do this, it has to generate products, services or ideas that offer superior value for its customers that is not easily imitated by competitors. Financial services especially banks should used 4Ps which is price, product, place and promotion for their marketing tools for influencing customers. Therefore, in this assignment we actually want to know either these marketing tools (4Ps) can deliver a customer benefit on their target market or not? How the banks identifying its target market and recognizing and responding to that market’s needs and wants? We already know that the bank marketing function...
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...RITU SRIVASTAVA ANSWER 3 : OPERATIONAL EFFICIENCY OR STRATEGY For a company to be successful it is required for it to be flexible enough to adapt to the changing economic conditions. They must outbeat their own benchmarks continuously to achieve best practices. For example regarding axis bank : Profit after tax up 34.76% to `3,388.49 crores Net interest income up 31.14% to `6,562.99 crores Fee & other income up 32.39% to `4,135.16 crores Deposits up 33.93% to `189,237.80 crores Demand deposits up 17.78% to `77,767.40 crores Advances up 36.48% to `142,407.83 crores Retail assets up 33.32% to `27,759.23 crores Network of branches and extension counters increased from 983 to 1,390 Total number of atms went up from 4,293 to 6,270 Net npa ratio as a percentage of net customer assets down to 0.26% from 0.36% Earnings per share (basic) increased from `65.78 to `82.95 Proposed dividend up from 120% to 140% Capital adequacy ratio stood at 12.65% as against the minimum regulatory norm of 9% And also they must nurture a few core competencies to stay ahead of rivals. Eg. Rivals can quickly copy any market position and competitive advantage is at best temporary. For example, in the banking industry if any bank comes up with a new product or scheme or merges up with other or introduces cost cutting approaches other banks also follow them immediately and that particular scheme is then easily intimated by others. This act of banks copying/intimating one another leads to no form of a benefit...
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...The Global Pharmaceutical Industry Case Analysis This case by Sarah Holland and Bernardo Bátiz-Lazostudies studies the evolution of the ethical pharmaceutical industry and analyses the various forces affecting the discovery, development, production, distribution and marketing of prescription drugs. The authors further analyses the critical issues of corporate social responsibility in the industry and the strategies being followed by major pharmaceutical companies and the challenges and opportunities for the future. This case bases its research to find evidence to support or disprove findings of a report published in the Gardiner by analysts at the investment bank of Dresdner Kleinwort Wasserstein which claimed that the world's major drugs companies are operating a business model that is unsustainable and rapidly running out of steam. On the surface however, the pharmaceuticals business seems like the epitome of a modern, mature industry that has found a comfortable way to make profits by the billion. According to the case large pharmaceuticals companies are currently facing the most challenging times since a decade. Even though the industry has made tremendous contributions to human well-being, its roles and actions are still criticized by the media and under constant scrutiny by national governments in their efforts to reduce expenditure in healthcare. Stringent laws and regulations have come in action which has made product approval, pricing and promotions costlier...
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...INDIA Bank Karur Vysya Bank (KVB) Initiation 2 May 2012 Key Data Bloomberg Code Reuters Code Current Shares O/S (mn) Diluted Shares O/S(mn) Mkt Cap (Rsbn/USDmn) 52 Wk H / L (Rs) Daily Vol. (3M NSE Avg.) Face Value (Rs) USD = Rs52.9 KVB IN KARU.BO 107.2 107.2 43.2/816.1 479/315 325,412 10 Buy Target Price: Rs500 CMP: Rs403 Upside: 24% *as on 30 April 2012 A re-rating candidate Karur Vysya Bank (KVB) is a play on consistently robust performance driven by strong asset side position – a result of deeper understanding of its target segment. This has translated into strong pricing power and contained credit costs and hence robust avg ROA of ~1.6% for last decade. Renewed focus on improving liability side should aid continuity of impressive return ratios in future. Given robust financial performance on consistent basis, current valuations seem unjustified on absolute (1.1x FY14E PBV) and relative basis (~40% discount to new-gen pvt banks and at par with south based peers). KVB, a regional but quality franchisee, should get re-rated from its currently attractive valuations (1.1x FY14E PBV). Initiating coverage with Buy. Strong asset side position: KVB, a regional banking player in Southern India, has carved out a niche for itself by catering to working capital requirements with clear preference towards secured credit. Capitalising on its regional focus, KVB has churned out consistent RoA (1.6%) & RoE (~20%) during FY06-FY12 – encompassing varied operating environments...
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...A REPORT ON “PRODUCT FEATURES OF HDFC CURRENT ACCOUNT WITH OTHER BANK, CA ACCOUNTS AND CUSTOMER REQUIREMENTS” A Thesis Submitted in the partial fulfilment of the requirements for The award of the degree of POST GRADUATE DIPLOMA IN MANAGEMENT SUBMITTED TO:HDFC BANK Paschim Vihar SUBMITTED BY:Aalok Aashish Kachhap 1 ACKNOWLEDGEMENT The success and final outcome of this project required a lot of guidance and assistance from many people and I am extremely fortunate to have got this all along the completion of my project work. Whatever I have done is only due to such guidance and assistance and I would not forget to thank them. I respect and thank Mr. Uttam Ahluwalia (CH) for giving me an opportunity to do the project work on “Product Features Of HDFC Current Account With Other Bank, CA Accounts And Customer Requirements” and providing me all support and guidance which made me complete the project on time. I would also like thank my industry guide Mr. Raja Saha (BM), I am extremely grateful to him for giving such a nice support and guidance though he had busy schedule and of course I should not forget to thank my faculty guide Dr. KM Kumar, for his full support and guidance throughout the SIP period. I would like to extend my gratitude to Mr. Rohit Parmar (Branch Operations Manager) and Mr. Danish Raza (ABM) who went out of their way to guide me throughout my project and gave varied insights. At last but not least I am also thankful to and fortunate enough...
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...INVESTMAP Fact Sheet for June 2012 Toll Free 1800 425 5959 www.sundarammutual.com SMS SFUND to 56767 Email service@sundarammutual.com Sundaram Mutual Fund Track Record Equity Funds Fund / Benchmark Satish Ramanathan Sundaram Select Mid Cap BSE Mid Cap Index S&P CNX Nifty Index Srividhya Rajesh Sundaram Select Focus S&P CNX Nifty Index S&P CNX Nifty Index Sundaram Capex Opportunities BSE Capital Goods Index S&P CNX Nifty Index Sundaram Equity Plus S&P CNX Nifty(65%) & Price of Gold in INR(35%) S&P CNX Nifty Index J Venkatesan Sundaram Growth Fund BSE 200 Index S&P CNX Nifty Index Sundaram India Leadership S&P CNX Nifty Index S&P CNX Nifty Index Sundaram Financial Opportunities CNX Banks Index S&P CNX Nifty Index Sundaram Rural India BSE 500 Index S&P CNX Nifty Index Sundaram Entertainment Opportunities CNX Media Index S&P CNX Nifty Index Sundaram PSU Opportunities CNX PSE Index S&P CNX Nifty Index S Krishnakumar Sundaram SMILE Fund CNX Mid Cap Index S&P CNX Nifty Index Sundaram Energy Opportunities BSE Oil & Gas Index S&P CNX Nifty Index Sundaram Equity Multiplier S&P CNX 500 Index S&P CNX Nifty Index Jointly Managed by Srividhya Rajesh and S Bharath Sundaram Balanced Fund CRISIL Balanced Fund Index S&P CNX Nifty Index Jointly Managed by Srividhya Rajesh and J Venkatesan Sundaram Tax Saver BSE 200 Index S&P CNX Nifty Index S Bharath Sundaram Global Advantage Fund MSCI Index CNX Nifty 30/06/11 30/06/10 ...
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