Healthy growth momentum coupled with improvement in margins and asset quality is expected to aid RoA and, thus, valuations, said ICICIDirect Research, with maintaining a buy rating and a target price of Rs 170 on the stock.
FCNR(B) hurdle: Singapore holds ground on withholding tax
Given the spread between interest offered on FCNR deposits and interest charged on loans, a 10% WTH on loan interest on tax grossed-up basis would