UNITED BANK OF INDIA: (BSE: 533171 | NSE: UNITEDBNK)
The performance seems to be distracted by the IPO. After a robust IPO, this kind of results – a 65% YoY plunge - is unpardonable. It seems that while the bank was immersed in the IPO business, dangers like higher provisioning and lower treasury crept in. Seriously needs to get it act together, before the market corrects the scrip with a possible over-reaction.
The performance seems to be distracted by the IPO. After a robust IPO, this kind of results – a 65% YoY plunge - is unpardonable. It seems that while the bank was immersed in the IPO business, dangers like higher provisioning and lower treasury crept in. Seriously needs to get it act together, before the market corrects the scrip with a possible over-reaction.
Also Read: How 24 Indian Banks Actually Performed in Q4
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