Sign in

    Anand Swaminathan • Bank of America

    Anand Swaminathan's questions to ICICI Bank Ltd (IBN) leadership

    Anand Swaminathan's questions to ICICI Bank Ltd (IBN) leadership • Q4 2025

    Question

    Anand Swaminathan of Bank of America asked about the elasticity of savings rate cuts and the potential for a theoretical floor. He also requested a deeper understanding of the risk profile and profitability drivers of the rapidly growing Business Banking portfolio.

    Answer

    Executive Anindya Banerjee explained that there is no direct, quantifiable relationship for savings rate cuts, as each bank sets them optimally. He detailed that Business Banking growth is driven by distribution, advanced underwriting models, and digital offerings. He characterized the portfolio as granular, well-diversified, and performing strongly with low credit costs, emphasizing the holistic 'customer 360' benefits over just yield.

    Ask Fintool Equity Research AI

    Anand Swaminathan's questions to HDFC Bank Ltd (HDB) leadership

    Anand Swaminathan's questions to HDFC Bank Ltd (HDB) leadership • Q4 2025

    Question

    Anand Swaminathan requested clarity on recent senior management changes in the Commercial and Rural Banking (CRB) division. He also asked if the bank has enough levers to defend its ~1.8% Return on Assets (ROA) level as it enters a rate cut cycle.

    Answer

    Executive Sashidhar Jagdishan and CFO Srinivasan Vaidyanathan clarified that the CRB head is on a personal sabbatical and the bank has reorganized its entire asset business under Deputy MD Kaizad Bharucha to drive synergies and productivity. Regarding ROA, Vaidyanathan noted it has been stable around 1.9% post-merger and historically operates in a 1.9%-2.1% range. He expects it to remain in a narrow band, as any outperformance creates opportunities for reinvestment in long-term growth.

    Ask Fintool Equity Research AI

    Anand Swaminathan's questions to HDFC Bank Ltd (HDB) leadership • Q4 2025

    Question

    Anand Swaminathan from Bank of America asked for clarity on recent senior management changes in the Commercial and Rural Banking (CRB) division and questioned whether the bank has enough levers to defend its ~1.8% Return on Assets (ROA) during a rate cut cycle.

    Answer

    Executive Srinivasan Vaidyanathan and Executive Sashidhar Jagdishan addressed the management changes, explaining that the head of CRB, Rahul Shukla, took a personal sabbatical. They detailed a reorganization under Deputy MD Kaizad Bharucha aimed at driving synergies and productivity, particularly by cross-selling products in rural markets. On ROA, Vaidyanathan noted the bank has consistently operated around 1.9% post-merger and aims to maintain this stable range. He added that any outperformance would likely be reinvested for long-term growth, while acknowledging a potential fluctuation of +/- 10 basis points in a given year is possible.

    Ask Fintool Equity Research AI