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March 30, 2001
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Money > Business Headlines > Report March 30, 2001 |
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Private banks' capital market exposure falls by 30 per centGeorge Smith Alexander Private sector banks have started cutting down their exposure in the capital markets. According to industry sources, The exposures of these banks-both funded as well as non-funded-have fallen by around 30 per cent over the last fortnight. Though the guarantees of some of the private sector banks had been invoked by the CSE (Calcutta Stock Exchange), most of these banks claim that they have been fully covered by cash margins and additional securities. The CSE had invoked guarantees of a slew of public sector as well as private banks, including ICICI Bank (Rs 190 million), HDFC Bank (Rs 40 million), Global Trust Bank (Rs 40 million) and IndusInd Bank (Rs 160 million). GTB, whose funded exposure was in the region of Rs 5.18 billion, has brought it down to around Rs 3.90 billion. It plans to bring it down to Rs 3 billion. The exposure of HDFC Bank to brokers has fallen from around Rs 1.50 billion to less than Rs 1 billion while its guarantee exposure has fallen by around 20 per cent from the peak level of Rs 5 billion.
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